April 12, 2016

Nafziger on 2016 Growing Season

Univeristy of Illinois Extension Agronomist talks with Todd Gleason about the amount of nitrogen available to the corn plant during the growing season, how that fertilizer faired over the warm wet winter months, when to plant corn, and if it is ok to plant soybeans earlier than normal.


April 11, 2016

TTIP & Ag Polices - with Damien Levie, EU Trade Negotiator

There are two trade negotiations under consideration in the United States at this time. We often hear about TPP, or the Trans Pacific Partnership. The other is called T-TIP. Todd Gleason has more on the European perspective of this contentious deal.


March 29, 2016

John Deere Sought Hagie

Amber Kohlhass, Communications Manager - Hagie Manufacturing

John Deere News Release

MOLINE, ILLINOIS (March 29, 2016) - Deere & Company (NYSE: DE) has entered a joint venture with Hagie Manufacturing, the U.S. market leader in high-clearance sprayers. In the agreement, Deere acquires majority ownership of Hagie Manufacturing, which will continue producing sprayers in its current Clarion, Iowa location. Equipment made by the joint venture will continue to carry the Hagie brand while sales and service for Hagie equipment will be integrated into Deere’s global distribution channel over the next 15 months.

“Hagie Manufacturing is known for innovation and its strong customer understanding in high-clearance spraying equipment,” said John May, president, Agricultural Solutions and Chief Information Officer at Deere. “High-clearance spraying equipment is a new market for Deere. The expertise at Hagie allows John Deere to immediately serve customers who need precision solutions that extend their window for applying nutrients.”

Alan Hagie, chief executive officer at Hagie Manufacturing, said, “We have great products at Hagie that help producers be more profitable but we need a business model that helps us reach more customers. This partnership with Deere allows our solutions to reach customers on a global scale and ensure they are supported with the world-class Deere dealer organization.”

May said the joint venture investment allows John Deere to provide a broader range of sprayer options and integrate Deere’s precision technology into the Hagie equipment to help customers reduce costs and improve yields.

Deere & Company (www.JohnDeere.com) is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land – those who cultivate, harvest, transform, enrich and build upon the land to meet the world’s dramatically increasing need for food, fuel, shelter and infrastructure.

Hagie Manufacturing (www.hagie.com) provides innovative crop protection solutions that are purposeful tools to drive economic benefits, while also performing responsible stewardship and best agricultural practices. Hagie was advised by NCP, Inc. as its exclusive financial advisor on the transaction.


March 29, 2016

U.S. Secretary of Agriculture Tom Vilsack Interview

U.S. Secretary of Agriculture Tom Vilsack has a discussion with Todd Gleason about policy making news in Washington, D.C. including the TPP, the just announced Local Foods Toolkit, and GMO labeling laws.


March 29, 2016

Fewer Hogs and Higher Prices

The last Hogs and Pigs report is good news for pork producers. Todd Gleason reports it showed fewer hogs are being raised in the United States and that, in turn, should boost prices.



Pork producers say they’ll reduce the size of their breeding herds. Or at least that’s what the latest Hogs and Pigs report showed. Purdue Extension Agricultural Economist Chris Hurt says farrowing should begin slow this spring and summer. However, right now, the breeding herd is as big as it was at this same time last year. Still, it’s a pattern of change and reduction says Hurt.

Quote Summary - The herd had been in an expansion phase from the last half of 2014 through 2015. That expansion was largely because of record high profits due to baby pig losses from PED. That expansion phase seemingly has now ended.

This ‘ending’ is a bit uneven geographically. For the 16 states USDA surveys for the March report, the breeding herd is up nine percent in Oklahoma and 10 percent in Texas. Some of the primary Midwestern states reported a decrease in their breeding herds over the past year; Iowa down five percent, Missouri down four percent, and Minnesota down two percent. In Indiana, where corn yields were reduced by summer flooding, the breeding herd was down seven percent. Those are all the current breeding herd numbers. It’s the forward looking projections that provide hope for higher pork prices.

Pork supplies in the first quarter of 2017 will come from the three percent smaller summer farrowings. However, with more pigs per litter and heavier weights, pork production is expected to be only about one percent smaller.

Chris Hurt’s price forecast for market hogs then is in a range of $49 to $54 for all of 2016, about $1 higher than last year. He expects prices to rise to the $55 to $58 range for averages in the second and third quarters, normally the grill-out seasonal highs, and then to finish the year in the mid-to-higher $40s.


March 23, 2016

Why Urban Agriculture

Extension systems across the United States are targeting the development of local food systems around large and small communities. Todd Gleason has more on the reasons why with University of Illinois Extension Local Food Systems & Small Farms Educator Zach Grant.


March 22, 2016

Any Information in Mid-Year Soybean Stocks Estimate

Next week (Thursday March 31) USDA will release the quarterly Grain Stocks report. Typically it is overshadowed by the Prospective Plantings report released on the same date. However, as Todd Gleason reports, it occasionally provides a surprise to the trade.



For soybeans, the stocks estimate is often very near the level expected by the market says University of Illinois Agricultural Economist Darrel Good. This is because we generally know how many soybeans are used at any point during year based off the magnitude of the domestic crush and the exports, both of which are tallied either by the government, the industry, or the two combined. The stocks estimate, says Good, really does indicated the magnitude of seed, feed, and residual use of soybeans in the previous quarter. Unlike corn, for which feed and residual use is a large portion of disappearance, seed, feed, and residual use of soybeans is a relatively small portion of disappearance during the winter months. However, he cautions, occasionally the March 1 stocks estimate provides a surprise.

Based on the average trade guess reported by news services, the March 1 stocks estimate has deviated from market expectations by more than 30 million bushels nine times and by more than 60 million bushels four times in the past 25 years.

The expected level of soybean stocks on March 1 this year can be calculated. The USDA’s Oilseed Crushings, Production, Consumption and Stocks report provides information for December of 2015 and January of 2016. The estimate for February will be released April 1. The National Oilseed Processors Association (NOPA) estimate of the magnitude of the February soybean crush by its members can be used to estimate the total February crush. For the nine months that USDA has provided soybean crush estimates (May 2015-January 2016), the USDA crush estimates have exceeded the NOPA crush estimates by 6.4 percent. Applying that ratio to the NOPA February crush estimate, suggests to Darrel Good that 483.1 million bushels of soybeans were crushed in the second quarter of the current marketing year. It’s possible to calculate the number of soybeans exported in the last quarter, too.

Based on a combination of USDA and Census Bureau export estimates, second quarter exports totaled just over 677 million bushels.

This leaves the seed, feed, and residual usage factor. That’s tougher to figure, but a much smaller number. If this year follows the average consumption pattern Good says it would be about 12 million bushels in the second quarter. So, 483 crushed plus 677 exported plus 12 fed equals roughly 1.173 billion bushels consumed in the second quarter. Subtract that from the first quarter stocks, plus the imports and you get 1.55 billion bushels of soybeans on hand March 1st in the United States. The Grain Stocks report March 31 shouldn’t vary much from this number, but it could says Darrel Good.

If the March 1 stocks estimate is surprisingly large or small, the accuracy of USDA’s 2015 production estimate may be called into question. The USDA has revised the previous year’s production estimate by varying amounts in 20 of the past 25 years based on the stocks estimate at the end of the marketing year (September 1). However, it would be pre-mature to question the accuracy of the production estimate based on the March 1 stocks estimate due to the large variation in the quarterly pattern of seed, feed, and residual use of soybeans.

The eight largest revisions in the production estimates following the USDA’s September 1 stocks estimate ranged from 1.1 to 3.5 percent. Only three of those eight large revisions followed a surprise in the March 1 stocks estimate that exceeded 30 million bushels. Conversely, of the nine years in which the magnitude of the surprise in March 1 stocks estimate exceeded 30 million bushels, only three were followed by revisions in the production estimate that exceeded one percent.


March 16, 2016

Are Soybeans-After-Soybeans Profitable

Low commodity prices have farmers around the nation considering a different crop rotation. Some have been wondering if it might be more profitable to plant soybeans after soybeans this year. University of Illinois Extension Economist Gary Schnitkey addressed the issue on the FarmDocDaily website and told Todd Gleason farmers in northern and southern Illinois might consider the option.


March 16, 2016

Allendale Releases 2016 Acreage Survey Results

Allendale, Inc. estimates US grain and oilseed producers will increase corn and wheat acres, while lowering the number of acres sown to soybean. All three survey totals are higher than USDA’s Agricultural Outlook Forum estimates. 
 
Corn planting intentions of 90.431 million acres would be the sixth largest acreage of the past ten years. Allendale’s production estimate would imply a production increase of 31 million over last year’s record.
 
 
Soybean planting intentions are seen at 82.575 million acres, the third largest ever. Allendale’s production estimate would be 207 million under last year’s record level due to a return back from record 2015 yields.
 
Wheat acreage is estimated at 51.769 million acres. This would be the smallest acreage since 1970. Allendale’s production estimate is 53 million under last year’s level.
 

The results are based on the firm’s 27th annual Producer Acreage Survey. Submissions were made directly by producers in 25 states by phone and online from February 26, 2016 to March 11, 2016.
 
The United States Department of Agriculture is now surveying some 80,000 producers on their cropping intentions for the year. USDA's 2016 Prospective Plantings report is due March 31st.

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