Skyrocketing fuel costs have become the wild card for many farmers’ bottom line this year. Justin Ewalt farms in southwest Iowa. “It hurts a little bit,” he says. “Every time you pull up to a pump.” He tells Brownfield he’s starting to flesh out fuel costs for this fall. “We’re talking like $4.50 for farm fuel,” he says. “That’s a little worrisome on the horizon because I don’t think people […]
The head of the USDA’s World Agricultural Outlook Board says he’s keeping a close eye on South American corn supplies and the upcoming second crop harvest. Mark Jekanowski says, “The size of that crop is going to be critically important to potentially make up for some of those more limited supplies out of Ukraine.” He says the USDA uses the March planting intentions acreage as a baseline, but… “If there […]
A bill advancing in the U.S. House would create a taskforce designed to shore up the food supply chain. Co-author Angie Craig tells Brownfield the Strengthening the Agriculture and Food Supply Chain Act is in response to high prices. “It’s a bipartisan bill that would create a dedicated taskforce designed to really study this issue (of) the American food supply chain, and hopefully can increase some government coordination and design […]
A dairy lending specialist suggests the dairy herd is not growing commensurate to milk prices. Greg Steele with Compeer Financial says when the market is this strong there’s usually a spike in dairy cows. “Generally be encouraged whether it’s $24 or $25 milk, you would see the bulldozers rolling and contractors working to put up new barns.” Despite some growth “around the fringes,” he tells Brownfield processor limitations and base […]
Farmers are in uncertain times as input costs soar and commodity prices chase record highs. Noah Hultgren grows corn, soybeans, sugarbeets, kidney beans, alfalfa, and canning crops near Raymond in west-central Minnesota and suggests the current market is not sustainable. “I’m sure I’m speaking for a lot of farmers (by saying) we’re just all cautiously nervous on everything right now.” He tells Brownfield it’s not just the price of inputs […]
Jul. corn closed at $7.83 and 1/4, up 1 and 3/4 centsJul. soybeans closed at $16.90 and 1/2, up 27 and 3/4 centsJul. soybean meal closed at $425.30, up $11.30Jul. soybean oil closed at 79.53, down 102 pointsJul. wheat closed at $12.00 and 1/2, down 30 and 1/4 centsJun. live cattle closed at $131.50, unchangedJun. lean hogs closed at $105.30, down 80 centsJun. ...
West-central Iowa farmer Jeff Frank says his planting season has come to a close. “We’ve had a few good days and a lot of people got a lot of corn in,” he said. “Beans are probably 70 percent done in our area.” He tells Brownfield he finished corn planting on April 27th and soybeans the week of May 9th. “My corn is all up and probably a third of my […]
Soybeans were sharply higher on commercial and technical buying. Old and new crop export sales were up on the week, with China back in the market, but still not at expected levels. Demand from China has been impacting by COVID lockdowns and unloading delays at port, while soybean demand in general has been somewhat impacted by relatively high prices and the recent trend in the dollar. China’s National Grain and […]
A new study shows the effectiveness of USDA foreign market programs in boosting ag exports. Chair of the Coalition to Promote Agricultural Exports Robbie Minnich tells Brownfield every dollar invested in the Market Access Program (MAP) and Foreign Market Development (FMD) program returns $24.50. “These programs increase cash receipts by over $12 billion per year so they are working well,” he says. Unfortunately, he says funding for the programs in […]
