Three commodity organization representatives attempted to answer the question on everyone’s mind right now regarding commodity trends – where are we headed?
Steve Censky of the American Soybean Association, Fred Stemme with the National Corn Growers Association and Alan Tracy of US Wheat Associates all made presentations and took questions from the audience at the Association of Equipment Manufacturers AgExecutive Forum last week in St. Louis.
Steve noted the importance of biotechnology in the soybean industry and the increase in global demand for soybeans. “Global demand since 1990 for soybeans has been rising at 2x that of corn and almost 4x that of wheat or rice,” Steve said. “That is because people around the world have been improving their diets, which means more oil in the diet and more meat, which is good for the soybean industry.”
Fred started off his presentation with a flawless report on closing futures prices – sounded as good or better than any farm broadcaster I know – making bad news sound good! His presentation focused on the increase in corn yields since 1944, which can allow them to meet the feed, food and fuel needs of the world. “Who would have imagined 60 years ago that today we could produce on the same number of acres, 85 million acres, nearly four fold the size of crop,” Fred noted. “We went from about 3 billion bushels to 13 billion bushels last year.”
There was a bit of good-natured competition between the three. Alan pointed out that wheat may be losing acres to corn and beans, but he likes to remind his two colleagues that “mine is the only product that is mentioned in the Lord’s Prayer.” He noted the increase in wheat production in the Black Sea area, such as Ukraine, and he showed a graph comparing the similarities in weather between that region and the Midwest, suggesting that we “teach the Russians to grow corn and soybeans.”
Lots of good stuff in their presentations, which you can listen to here:
aem-forum-08-commodity-panel.mp3
I also interviewed Fred and Alan – listen to them here:
Fred Stemme aem-forum-08-stemme.MP3
Alan Tracy aem-forum-08-tracy.mp3
View and download photos from the AEM AgExecutive Forum here.

Utility tractors weren’t the only vehicles we got to ride and drive at the John Deere Drive Green product launch. We also saw the new Gators.
I really appreciate John Deere holding their Drive Green media event in Sarasota, FL. After all, it is my home town.
The executives, from left to right, were Doug DeVries, Deere and Company; Doug Griffin, AGCO; John Koetz, Case IH; Rusty Fowler, Krone NA; Gary MacDonald, MacDon Industries; and Dick Brown, Krause Corp. They are all very excited and supportive of the new show which promises to be a “worldwide and world-class experience; bringing the world of agriculture together in one gathering place for the benefit of exhibitors, producers, government, media, and all key industry leaders.”
Republican presidential candidate Senator John McCain is causing quite a bit of concern among members of the agriculture and ethanol industries with his comments about farm programs and ethanol incentives. Last week in Missouri, McCain said, “My administration will reduce the price of food by eliminating the subsidies for ethanol and agricultural goods. These subsidies inflate the price of food, not only for Americans but for people in poverty across the world, and I propose to abolish them.”
The other major line of utility tractor just launched by John Deere is the
One of the new utility tractors that John Deere has just launched is the
The first stop on our John Deere, Drive Green, media event was an introduction to the new utility tractors. Dan Pashke (in video, not this picture) gave us the rundown with the who/what/where/when and why. In this video clip you’ll also see some demonstrations of the machines. All the new utility tractors use the
Sara Wyant and Stewart Doan at
Cindy here with an addition to this post. Here is a photo of Stewart interviewing Secretary of Agriculture Ed Schafer yesterday in St. Louis for this new program. Unfortunately, they do not have a photo of him interviewing Sen. Obama, as the interview was done by phone – not a real exciting photo op, I guess.