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Grain Futures Soar on Delayed Plantings

In the latest Crop Progress report, planting progress continues at a slower than expected pace—causing concern for traders and seeing corn futures up 12 to 13 cents per bushel Tuesday morning.

The USDA reported corn plantings at 30 percent completion as of Sunday, May 12. That’s less than half of what the normal 5-year average rate is at this point in the season. It’s also only a 7 percent increase from the previous week.

Rain and cool weather in the major production areas has hindered planting activities so far this season.

Emergence is also lower than expected, currently at 10 percent. Last year at this time...

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May 14 1:49 PM, UB Newswires



Planting Progress Lags for Corn and Soybeans

In the latest Crop Progress report, the USDA shows corn plantings across the 18 primary production states is currently just 23 percent complete, which is half the normal progress made by this time over the last 5 years.

Planting progress is well-below expectations for this point in the season, having been hindered by rains throughout the Midwest where much of the crop is produced. Every state surveyed has reported lower progress rates than their respective 5-year averages.

Corn emergence is currently at 6 percent, also less than half the average rate. Seven of the 18 production states have yet to report any emerging corn.

Meanwhile, 6 percent of soybeans have been planted so far this season—also...

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May 7 3:11 PM, UB Newswires


Rabobank: The Impending Geopolitical G&O Bull/Bear Cycle

The outcome of the current US-China trade negotiations will be drastic and enduring. G&O commodity markets are not reflecting the high risk of extreme impacts of either ‘no-deal’ or ‘super-deal’. The G&O value chain needs to prepare for the next geopolitical bull/bear cycle.

Geopolitical decisions, more than global fundamental supply-and-demand dynamics, threaten to make or break the next G&O bull market. The trade war between the world’s largest producer (the US) and importer (China) of G&O upended global trade fundamentals and precipitated...

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Feb 19 9:18 AM, General News


FAO Food Price Index Rises in January

Global food prices began the year on a buoyant note, as the FAO Food Price Index averaged 164.8 points in January 2019, up 1.8 percent from the previous month.

A sharp rebound in dairy price quotations and firmer prices of palm and soy oils drove the increase, the United Nations agency said today. The Food Price Index, an indicator of the monthly changes in international prices of a basket of food commodities, was still 2.2 percent below its January 2018 level.

The FAO Cereal Price Index averaged 168.1 points in January, up marginally from December. Prices of the major grains were generally firm amid tightening export supplies and robust world demand.

International soy oil prices also rose on the back of...

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Feb 7 9:33 AM, General News


Farm Bureau Gives Agricultural Trade Outlook for 2019

American Farm Bureau Federation policy experts gave an overview of the issues expected to affect farmers and ranchers in 2019 in a workshop at the organization’s 100th Annual Convention.

David Salmonsen, senior director of congressional relations for AFBF, said the diverse impacts of tariffs, the outcomes of free trade agreement negotiations and the future of relations with China are all critical for the future of ag exports and the growth of American agriculture

Salmonsen discussed the United States-Mexico-Canada Agreement and outlined the process for ratification. “It could be quick or it could be slow, but there is a timeline that has to be followed,” Salmonsen said.

If USMCA is implemented, it will increase quota access for U.S. dairy products into Canada and end...

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Jan 14 9:51 AM, General News


COFCO International Joins Initiative to Modernize Global Agricultural Commodity Trade Operations

COFCO International Ltd (“COFCO International”) is partnering with Archer Daniels Midland Company (NYSE: ADM) (“ADM”), Bunge Limited (NYSE: BG) (“Bunge”), Cargill Incorporated (“Cargill”), and Louis Dreyfus Company (“LDC”) to standardize data and digitize global agricultural shipping transactions. Together, the companies are looking to increase transparency and efficiency for customers through digital technologies, such as blockchain and artificial intelligence.

“We are pleased to join this initiative as a founding member,” said Johnny Chi, Chairman and CEO of COFCO International. “Emerging technologies like blockchain give us the opportunity to create a transparent, secure and efficient platform and transform global agricultural trade operations. Our shared vision is to develop a new standard available to everyone, bringing ...

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Dec 20 12:34 PM, General News


Study Finds 11 Percent of the Price of Corn is Derived from Red Meat Exports

The U.S. Meat Export Federation (USMEF) has received the results of an updated study aimed at quantifying the value delivered to U.S. corn producers through exports of red meat. The original 2016 study, as well as the 2018 follow-up, were conducted by World Perspectives, Inc. (WPI), a leading agricultural consulting firm.

The original study, titled The Intersection of U.S. Meat Exports and Domestic Corn Use, concluded that in 2015 exports of U.S. red meat accounted for 11.7 million tons of combined corn and Dried Distillers Grains with Solubles (DDGS) use. In its update, WPI concluded that 2018 beef and pork exports will use a combined total of 14.9 million tons of corn and DDGS, which equates to an additional 459.7 million bushels of corn produced – an increase of 29 percent over the 2015 projections.

Other highlights from the updated study...

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Dec 18 10:03 AM, General News


FAO Food Price Index Registered Another Decline in November

The FAO Food Price Index* (FFPI) averaged 160.8 points in November 2018, down 2.1 points (1.3 percent) from October, the lowest since May 2016, and nearly 15 points (8.5 percent) below its level in the corresponding period last year. The decline in November was led by much weaker vegetable oil, dairy and cereal prices. Meat values also fell, though slightly, while sugar prices firmed.

The FAO Cereal Price Index averaged almost 164 points in November, some 1.7 points (1.1 percent) below October and 11 points (7.1 percent) down from November 2016 average. Large nearby export supplies weighed on wheat prices while intensified export competition put downward pressure on maize quotations. New crop arrivals continued to weigh on rice export quotations despite some support provided by demand from the Philippines and expectations of lower fragrant rice production in some key exporting countries.

The FAO Vegetable Oil Price Index averaged 125.3 points in November, down 7.6 points (5.7 percent) month-on-month, marking the tenth consecutive monthly fall and a twelve-year low. The decline reflects... 

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Dec 7 8:54 AM, General News


Rabobank: Global Food Price Stability in 2019 Threatened by Trade Wars, Disease and El Niño

A “melting pot” of risks – including US trade war with China, disease and extreme weather – threaten global food price stability next year, according to research from Rabobank, the specialist food and agribusiness bank.

In its annual Outlook reports, which analyse the prospects for more than 15 agricultural commodities, meat and seafood, Rabobank says that while the global food price environment remains relatively stable, ongoing geopolitical tension, the threat of El Niño weather system and diseases affecting livestock bring great uncertainty to the outlook for 2019.

Stefan Vogel, head of agri commodity markets at Rabobank and report co-author, said: “The agri commodity price environment may be relatively stable currently, but it’s difficult to remember a time there were so many threats to...

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Nov 16 10:29 AM, General News


Commodity Leaders Join Forces on Sustainability Research

Pork, Soybean and Corn Sign Memorandum of Understanding on Sustainability Research

The National Pork Board (NPB), United Soybean Board (USB) and National Corn Growers Association (NCGA) announce the signing of a Memorandum of Understanding (MOU) on a sustainability research platform that will benefit all three organizations and their producers. This research program will include the sharing of completed research, coordination on current and planned research and define ways to share and communicate results with each organization’s members.

Leadership from the three commodity groups agree that it is prudent to consider specific ways in which they might work together more effectively to ensure alignment and collaboration in sustainability research and how the results can and will be communicated and shared...

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Nov 9 2:00 PM, General News


Perdue AgriBusiness Chooses Tradepoint Atlantic for New Organic Grain Facility

Perdue AgriBusiness, a division of Perdue Farms, announced today a $30 million investment to open an organic grain receiving and storage facility at Tradepoint Atlantic in eastern Baltimore County to meet the rising demand for organic feed ingredients for Perdue Foods and other companies in the region. The facility will also include grain and oilseed processing/milling and support more than 25 new jobs.

“Tradepoint Atlantic at the Port of Baltimore is ideally located to receive grain and supply organic customers throughout the Mid-Atlantic region,” said Dick Willey, president, Perdue AgriBusiness. “We work directly with local farmers and traders in the United States, Europe, South America, and Asia to source organic grain and soybeans. This new complex will be a key part of an integrated supply chain that enables us to increase business and reduce the cost while maintaining the quality of our organic products.”

“We’re on a mission to make organic chicken more accessible to more consumers, but the limiting factor is... 

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Nov 6 8:02 AM, General News


FAO: Food Prices Dip in October

International food commodity prices dipped in October, as falling dairy, meat and vegetable oils prices more than offset a surge in sugar prices, the United Nations said today.

The FAO Food Price Index, a measure of the monthly change in international prices of a basket of food commodities, averaged 163.5 points in October, down 0.9 percent from September and 7.4 percent below its level a year earlier.

The FAO Dairy Price Index led the overall decline, slipping 4.8 percent from the previous month and 34 percent below the peak reached in February 2014. The weaker prices reflect increased export supplies across all major dairy products, especially from New Zealand.

The FAO Meat Price Index declined 2.0 percent from September, with ovine, pig, bovine and poultry meat all posting drops due mostly to abundant export supplies...

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Nov 2 8:59 AM, General News


Harvest Activities Delayed in Some Areas Due to Recent Rains and Early Snow

A wet Autumn so far in parts of the Midwest, along with some very early snow for the season, has hampered harvest efforts as of late.

According to the latest Crop Progress report, the USDA estimates the corn harvest to be 39 percent complete, which is still ahead of the 5-year average, but the rate has slowed in the last week. States falling behind in harvest activities include Iowa, Minnesota, Pennsylvania, and South Dakota.

The soybean harvest is notably behind schedule, with only 38 percent completed as of October 14. That compares to the 5-year average rate of 53 percent by this time. Iowa, usually 51 percent underway at this point in the season, reports only...

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Oct 16 11:35 AM, UB Newswires


Secretary Perdue Statement on President Trump’s Ethanol Announcement

U.S. Secretary of Agriculture Sonny Perdue today hailed President Trump’s directive to the Environmental Protection Agency (EPA) to begin a rulemaking process to expand the sale of corn ethanol, to include E15 year-round. Perdue issued the following statement:

“This is another case of ‘Promises Made, Promises Kept’ for President Trump. Expanding the sale of E15 year-round is sound policy for a variety of reasons. Consumers will have more choices when they fill up at the pump, including environmentally friendly fuel with decreased emissions. It is also an excellent way to use our high corn productivity and improved yields....

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Oct 10 9:27 AM, General News


October Harvest Season Ramps Up

The 2018 corn harvest is now 26 percent underway, almost 10 points above the average pace over the last 5 years.

Leading the pack in the latest Crop Progress report is North Carolina, showing harvest activities for corn at 83 percent, while Texas follows up with 70 percent, followed by 65 percent in Missouri.

Looking at top producing states, the Iowa corn harvest is up to 11 percent, while Illinois reports 48 percent, and Nebraska shows 17 percent.

All 18 primary corn production states are...

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Oct 2 12:57 PM, UB Newswires


Corn Conditions Surpass Year Ago Ratings as Harvest Picks Up

The corn harvest is now 9 percent underway for the 2018 crop season, just ahead of past progress benchmarks.

The USDA reports in the latest Crop Progress report that 54 percent of corn has reached maturity, which is well ahead of the 36 percent 5-year average for this week. The condition of the corn crop is unchanged in the latest report, with 68 percent rated good to excellent. A year ago, only 61 percent made the GTE category rating.

Corn futures are down 4 to 5 cents per bushel so far Tuesday.

The soybean harvest has also begun in the week ending September 16. Currently 6 percent underway, the harvest is progressing slightly ahead of the 5-year average rate...

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Sep 18 12:41 PM, UB Newswires


The 2018 Corn Harvest Is Officially Underway

The week ending September 9th marked the first week of measurable corn harvest in the U.S. for 2018.

The USDA reports 5 percent of this year’s corn crop has been harvested so far, which is on par with a year ago at this time, and two points ahead of the 5-year average. Texas reports 63 percent of their corn crop has been harvested, while North Carolina has harvested 43 percent. Eight of the 18 primary corn producing states have yet to kick off harvest activities.

Overall, corn reaching maturity is up to 35 percent, compared to...

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Sep 11 12:21 PM, UB Newswires


Late Season Heat Wave Boosting Crop Development in Parts of Corn Belt

In the latest Crop Progress report, corn conditions were adjusted slightly with 67 percent now in good to excellent condition, down a point from the previous week. Corn rated in fair gained that point, now totaling 21 percent.

Corn in the dough stage of growth is nearly complete at 96 percent, which is also ahead of the 5-year average rate of 91 percent.  Corn dented is up to 75 percent, beating the average pace by 15 percentage points.

Corn reaching the mature stage is reported at 22 percent, double that of the 5-year average. A late season heat wave in the eastern Corn Belt is helping to hasten summer crop maturation, according to USDA weather reports.

So far this morning, corn futures are trading barely lower, down up to half a cent per bushel...

Full Story »
Sep 5 10:38 AM, UB Newswires


Late Summer Crop Growth Looks Positive

It’s the final week of August and summer crops continue to excel through key growth stages.

In the latest Crop Progress report, corn condition ratings were nearly unchanged, with 68 percent remaining in good to excellent condition. That compares with 62 percent in the category a year ago at this time.

As corn in the dough stage nears completion at 92 percent, corn dented is up to 61 percent—nearly 20 percentage points ahead of the 5-year average. In addition, the USDA provided initial figures for corn reaching maturity, currently at 10 percent. This is double the rate of past progress benchmarks.

Soybean conditions were altered just slightly in the latest week...

Full Story »
Aug 28 11:37 AM, UB Newswires


Winter Wheat Harvest Near Completion; Spring Wheat Conditions Vastly Improved from Year Ago

Corn Conditions Fall Slightly, Progress Still Ahead of Schedule

In the latest Crop Progress report, corn conditions were downgraded slightly with 68 percent now considered to be in good to excellent condition, down from 70 percent the previous week. The poor to very poor category gained those two points, now a combined 12 percent.

The USDA reports dry weather returning to the southwestern Corn Belt, following rainfall that had helped ease drought conditions and stressed crops.

Nonetheless, growth stages remain above past progress benchmarks for this year’s corn crop. Corn in the dough stage was 85 percent completed, compared to the 5-year average of 72 percent. Corn dented was up to 44 percent, 18 percentage points ahead of the average rate. Next week, we should have initial figures for matured corn...

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Aug 21 12:31 PM, UB Newswires


NCC Urges EPA to Lower ’19 Conventional Ethanol Volumes; Requests “Off-Ramp” Process for RFS

In detailed comments submitted Friday to the Environmental Protection Agency (EPA), the National Chicken Council (NCC) opined for a more reasonable and sustainable approach to the nation’s biofuel policy. The compelled diversion of corn from feed to fuel has exacted a heavy toll on the domestic chicken industry, American consumers, and results in higher fuel prices as EPA avers, the council said.

Regarding the 2019 rule, EPA is proposing an equal reduction for the overall advanced biofuel category and the renewable fuel total as it is exercised in the cellulosic waiver. NCC supports this action. Were the total renewable fuel volume requirement decreased by a lesser amount than the cellulosic waiver there would be an incentive for conventional biofuels to participate in the RFS program beyond the statutory cap of 15 billion gallons set by Congress.

EPA is proposing to leave the conventional ethanol implied mandate at 15 billion gallons, the statutory cap for that residual category of fuel. NCC urges that the effective conventional biofuel volume be reduced...

Full Story »
Aug 20 2:18 AM, General News


Crop Conditions Adjusted Slightly, Record High Corn and Soybean Yields Expected in Some States

In the latest Crop Progress report, corn conditions were adjusted to show 70 percent in good to excellent condition, down from 71 percent the week prior. 20 percent remains in fair condition, while a combined 10 percent is rated mostly poor to very poor.

In addition to crop conditions, the USDA also has released forecasts for the 2018 production year. The soybean crop is expected to be a record high this year, with production up 4 percent from 2017. Corn production is expected to decrease slightly.

The soybean harvest area is expected to be 88.9 million acres, with yields to average at 51.6 bushels per acre, up 2.5 bushels from last year, with a handful of states expected to... 

Full Story »
Aug 14 12:58 PM, UB Newswires




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