Special Edition: Cornbelt Update
The Farmgateblog presents a special edition of Cornbelt Update, a weekly newsletter to subscribers. Please enjoy and be informed, and if you would like to subscribe, information about that process follows the newsletter items.
Posted by Stu Ellis on 05/06 at 11:51 PM | (1) Comments | Permalink
Should Conservation Compliance Be Linked To Crop Insurance?
As Congress and agriculture prepare for a new Farm Bill, it appears the primary safety net will be the crop insurance program. Twenty years ago, only 20% of farmers used it, but today only 20% are not using it, which is a function of greater opportunities for indemnity payments. But in the wake of getting farmers to use crop insurance to manage their production and revenue risk, the tool has become a club to threaten farmers with penalties, should farmers misbehave.
Posted by Stu Ellis on 05/03 at 11:22 PM | (1) Comments | Permalink
Cowboys Can’t Afford Another Lightning Strike
The old saying that lightning never strikes twice in the same place has been disproven by the beef market which has been reeling from lightning strikes, first by lean, finely-textured beef, and more recently by the discovery of a cow with bovine spongiform encephalopathy (BSE). The market has declined from $129 per cwt to $120 for finished cattle before these events, and the futures market has lost $15 for June live cattle contracts. Don’t bet on the saying “The third time is the charm.”
Posted by Stu Ellis on 05/03 at 12:09 AM | (1) Comments | Permalink
CME Expands Daily Trading Hours To 22 Beginning May 20.
Since the development of futures contracts for buying and selling farm commodities began in 1848—there have been several significant changes at the Chicago Board of Trade. And one that was announced yesterday is among a handful with the greatest impact.
Posted by Stu Ellis on 05/01 at 11:28 PM | (1) Comments | Permalink
Planting And Crop Development Have Accelerated.
Farmers across the US nearly doubled the amount of corn planted in the last week, moving the marker up from 28% a week ago to 53% planted at the start of this week. Both are ahead of the 12% last year and the 27% five year average for the current week. Those are for the 18 states that produce 92% of the corn. However, when Cornbelt states are identified, the average drops back to 48% planted because the loss of KY (86%), NC (89%), and TN (93%) are dropped out. Nevertheless, progress toward a long growing season is still being made.
Posted by Stu Ellis on 05/01 at 01:03 AM | (0) Comments | Permalink