CME Group Permanently Closing Physical Trading Pits

CME Group announced this week it will not reopen its physical trading pits that were closed last March due to the outbreak of the COVID-19 pandemic. This includes the trading pits for corn, wheat, soybeans and other ag commodities. Contracts for ag commodities will be traded only electronically. However, CME Group’s Eurodollar options pit, which […]

Export Inspections of Corn and Soybeans Rise While Wheat Drops

Week-to-week exports of corn and beans rose while wheat assessments declined. Corn inspections in the seven days ending on April 22 came in at 1.95 million tons. That’s up from 1.56 million metric tons the previous week and was almost double the 1.08 million tons two weeks ago. Soybean assessments last week totaled almost 224,000 […]

USDA: Exports To China Up Considerably

When looking back on the first five months of fiscal year 2021, Ag exports to China has increased considerably. “China’s purchases were $20.2 billion, up 182% from that same period in 2020.” USDA Economist, Bart Kenner, said China is buying more of practically every major US crop. So, for example, in dollar terms for the […]

Farm Credit System Reviews Current Ag Economy

Record agricultural exports are contributing to favorable economic conditions for the U.S. farm sector. Exports to China have risen to record levels, with increases in soybeans, corn, wheat, and cotton. High crop prices and strong producer margins are expected to bring more acreage into production, but continuing drought in much of the western United States […]

USDA Releases Prospective Planting, Grain Stocks Reports

Producers intend to plant an estimated 91.1 million acres of corn in 2021, up less than 1% from last year, according to the Prospective Plantings report released by NASS. Planted acreage intentions for corn are up or unchanged in 24 of the 48 estimating states. Soybean growers intend to plant 87.6 million acres in 2021, […]

Ag Market Outlook is More Optimistic

The USDA’s Food and Ag Policy Research Institute says the Market Outlook Report is uncertain, but it’s more optimistic than it was a few months ago. The most recent baseline projections for agricultural and biofuel markets were prepared using market information available as of January 2021. The agency says commodity markets will continue to be […]

Farmers Should Prepare For “Sticker Shock” When It Comes To Crop Insurance In 2021

Choosing the right crop insurance protection option can be a challenging decision. The revenue protection products, the supplemental coverage option, and the Enhanced Coverage Option each provide different benefits. Dr. Jim Mintert, director of the Center for Commercial Agriculture at Purdue University, says farmers need to be ready for ‘sticker-shock’ this year. “We have the […]

Little Change in Latest WASDE Report

The Department of Agriculture’s latest World Agriculture Supply and Demand report, also known as the WASDE, offered little change from February estimates. Released Tuesday, the supply and demand outlook for 2020/21 U.S. wheat is mostly unchanged this month, but there are offsetting by-class changes to exports and imports. The season-average farm price is unchanged at […]

Study Shows Precision Agriculture Improves Stewardship

A New Study shows that widely available precision agriculture technology improves environmental stewardship while providing a solid economic return for farmers. “We’re living in a new age of technology, and the equipment can have an enormous positive impact on farmers and the environment,” says Curt Blades, Senior Vice President of Agriculture at the Association of […]

2021 Commodity Classic Will Be “Delivered Straight To Your Farm”

Like a lot of other agricultural events, the Commodity Classic will be going virtual in 2021. Due to the restrictions brought on by the coronavirus pandemic, America’s largest farmer-led, farmer-focused agricultural and educational experience will be coming right to farms across the country in a digital format March 2nd-5th. Commodity Classic organizers said, “While we’re […]