Agri-Pulse Open Mic with Dr. Robb Fraley, Monsanto

John Davis

open-micAgri-Pulse Open Mic this week features Dr. Robb Fraley, Monsanto.

Disappointed with the failed acquisition of Syngenta, Dr. Fraley discusses reasons for the pursuit of the global chemical giant and his company’s plans toward the future. While some consumers oppose genetically modified crops, Fraley gives reasons to pursue next generation innovation in chemistry, biologics, and genetics to achieve growth in the world food supply.

Click here to listen to Agri-Pulse Open Mic with Dr. Robb Fraley, Monsanto.

Agri-Pulse, Audio

DTN/Progressive Farmer Index Shows Pessimism

John Davis

Low prices for products, along with high input costs and an expected large crop are conspiring to keep farmers historically pessimistic about the future. The DTN/The Progressive Farmer Agriculture Confidence Index (ACI) shows the concerns focus on unstable commodity prices and uncertain farm incomes linger.
agconfidenceindex1
Producers’ perceptions over their current situations have dropped steadily, if not dramatically, from 118.0 last August to 109.1 in March to 101.5 now, remaining just in the optimistic range but at the lowest level since the ACI started in 2010. The value of 100 is considered neutral. Values above 100 indicate optimism, whereas values below signify pessimism.

The confidence index, which surveyed 500 crop and livestock producers Aug. 5-17, measures the sentiments of crop and livestock producers on their overall agriculture sector impressions. DTN/The Progressive Farmer conducts the ACI three times a year – before planting, prior to harvest and after harvest. Producers also rate current and long-term input prices and net farm income to gauge their attitudes toward the present situation and future expectations.

Since last year’s record harvest producers have encountered falling commodity prices. This combination continues to weigh on producers overall confidence about the agriculture industry. Last August, producers’ confidence for the ag industry crossed into the pessimistic range for the first time at 99.8, followed by an all-time confidence index low of 98.8 in March. Producer confidence rose slightly to 99.4 in August.

“Producers’ sentiments on their current situation have eroded the past year,” said DTN Markets Editor Katie Micik, director of the confidence index. “Commodity prices have not rebounded while costs continue to rise, causing farm incomes to drop. Yet, producers think things can’t get any worse.”

The report goes on to say the USDA recently estimated 2015 net farm income at $58 billion, down 36 percent from last year. But 70 percent of those surveyed believe farm income will stay the same or improve in the next year.

Midwestern farmers are the most pessimistic about their current situation and future expectations. Southwestern farmers’ attitudes are mixed, and producers in the Southeast are optimistic overall and positive about their current situation, but they are pessimistic about their future expectations.

Uncategorized

Latest FAPRI Commodity Price Report

John Davis

fapri-logoThe prices for grains, oilseeds, cotton, milk and hogs are down sharply from record levels set in recent years. An update to the Food and Agricultural Policy Research Institute’s (FAPRI) long-term baseline report says no quick price recovery is expected.

Given all of the assumptions of the analysis, here are a few highlights of the results:

· Projected corn prices remain near the 2014/15 level of $3.70 per bushel for another two years, and only exceed $4 per bushel in 2018/19. U.S. corn acreage increases to more than 90 million acres in 2016 at the expense of other crops.

· Large global oilseed supplies contribute to a reduction in projected soybean prices, which fall to $9.12 per bushel in 2015/16 and remain near that level in 2016/17.

· Projected wheat prices also decline, to $5.10 per bushel for the 2015/16 crop, as U.S. stocks rise to the highest levels since 2010.

· A smaller U.S. crop contributes to a modest increase in cotton prices in 2015/16 to 65 cents per pound, but larger Chinese stock levels continue to weigh on global markets.

· Ethanol production prospects depend, in part, on EPA decisions about how to implement the Renewable Fuel Standard (RFS). Lower oil prices increase gasoline consumption and the use of ethanol in 10-percent blends, but discourage higher-level blends and ethanol exports.

· Increased production and a stronger dollar have contributed to sharply lower U.S. hog and milk prices in 2015. Projected prices for both remain far below the record levels of 2014.

· As U.S. cattle numbers and beef production expand, cattle prices decline from record levels. Projected fed cattle prices decline from $157 per hundredweight in 2015 to $122 by 2020.

· As retail prices for meat, milk and other products moderate, projected consumer food price inflation drops to 1.9 percent in 2015 and 1.3 percent in 2016.

Agribusiness, Corn, Cotton, Grains, Soybean, Swine

New Holland Country Store

Chuck Zimmerman

New Holland Country StoreThe New Holland Country Store may be on location at farm shows but it is also online as well. New Holland’s Rebecca Gunderson was working in the Farm Progress Show exhibit just in front of the air-conditioned store so I asked her to tell me about it.

The Country Store at FPS had a big selection of clothing, toy tractors and useful branded items. It is also where you could get a blue raspberry snow cone!

Welcome to the new, New Holland CountryTM store online – your one-stop shop for all officially licensed New Holland Country brand merchandise. Created with the “true blue” New Holland enthusiast in mind, the New Holland Country Store offers hundreds of products that help you express your dedication and affinity with New Holland’s brand of tractors, haytools, farm equipment and construction equipment. From farm toys to tees and hats to home decor, you’ll find what you need to show your family, friends and neighbors that you’re “blue blooded” at your core!

If it’s labeled New Holland Country, you know it’s authentic New Holland.

Listen to my interview with Rebecca here: Rebecca Gunderson, New Holland

2015 Farm Progress Show Photo Album

Coverage of the 2015 Farm Progress Show is sponsored by
Coverage of the 2015 Farm Progress Show is sponsored by New HollandCoverage of the 2015 Farm Progress Show is sponsored by FMCCoverage of the 2015 Farm Progress Show is sponsored by Growmark
Agribusiness, Audio, Farm Progress Show, New Holland

Zimfo Bytes

Talia Goes

Zimfo Bytes

  • FarmScape at St. Louis Ballpark Village, presented by Monsanto and hosted by the Missouri Department of Agriculture, will be held on September 12th at 10 a.m.
  • The 72nd NAFB Convention has something for everyone, including Trade Talk, professional development workshops on news and blog writing, sales strategies, networking opportunities and more.
  • Results of a new survey about performance management practices in agribusinesses will be a featured discussion topic on Nov. 10-11 during the National Conference for Agribusiness at Purdue University.
  • Woodruff Sweitzer (WS) recently announced the addition of Cody Duvall, Nick Kinney, Andi Enns and Linda May to its Kansas City, Missouri, office.
Zimfo Bytes

Soil Selected as Topic of Ag Journalist Award

Kelly Marshall

IFAJInternational Federation of Agricultural Journalists (IFAJ) and the UN Food and Agriculture Organization (FAO) are gearing up for the IFAJ-FAO Award for Excellence in Global Food Security Reporting.  And with harvest approaching in the northern hemisphere and planting getting ready to roll in the southern, now is the perfect time to address the contest’s topic– soil.  The topic comes from the United Nation’s declaration that 2015 is the International Year of Soils.

Contest participants must be IFAJ members and one entry from each guild will be allowed.  Guilds will have their own selection process.

The contest winner will receive all-expenses paid trips to the annual IFAJ congress and to an FAO project related to the UN’s International Years.

It will be an open-language competition, meaning entries can be submitted in the language in which they were published or broadcast. FAO will handle all translation for judges, when required, in English, Spanish, French, Arabic, Russian or Chinese.

Print, broadcast and electronic media submissions (including multi-media) will be welcome. Submissions may be a single story or a series. Stories may be written by individuals or teams, but only one prize will be given per team. Judging criteria will be 50 per cent content and writing or broadcasting style, and 50 per cent presentation. Entries will be judged by three officials – one from FAO, and two from IFAJ. Two honourable mentions will be given. No prizes will be awarded for these designations.

Themes for following years will also reflect the United Nation’s International Years when they pertain to agriculture.  Expect future topics to reflect the idea of global food security, with food production, food safety, food waste, land use, nutrition and affordability as likely choices.

Stories must have been published or broadcast between (and including) 1 January and 31 December 2015. Deadline will be 1 March 2016.

For further information contact IFAJ vice-president Owen Roberts, owen(at)uoguelph.ca.

IFAJ, Soil

FMC Talks About Expanded Agreement with Monsanto

Cindy Zimmerman

heroFMC Agricultural Solutions and Monsanto last week announced the expansion of an agreement of participation in the Roundup Ready PLUS® Crop Management Solutions platform. The exclusive agreement includes FMC’s Authority® brand sulfentrazone herbicides, and adds FMC’s Capture® LFR® insecticide as a soil-applied insecticide for corn and Hero® insecticide.

“We believe growers should make use of the best technologies available,” said FMC Soybean Segment Manager Flavio Centola. “Monsanto and FMC together can offer farmers those cutting edge technologies to help them fight against weed and pest resistance and reach higher yields.”

Corn Segment Manager Matt Hancock says he likes the way the program helps them position the proper agronomics. “If it’s Authority brand herbicide, or Capture LFR insecticide at plant, or Hero foliar insecticide … we feel like that’s just really good stewardship of our brands and of our products,” said Hancock.

Learn more about how the agreement benefits growers here: Interview with Flavio Centola and Matt Hancock, FMC

2015 Farm Progress Show Photo Album

Coverage of the 2015 Farm Progress Show is sponsored by
Coverage of the 2015 Farm Progress Show is sponsored by New HollandCoverage of the 2015 Farm Progress Show is sponsored by FMCCoverage of the 2015 Farm Progress Show is sponsored by Growmark
Audio, Corn, FMC

Soybean Donation to Feed Central American Children

John Davis

soychildThe gift of soybeans will feed hungry children in Central America. This news release from the American Soybean Association says the Northern Food Grade Soybean Association (NFGSA), a non-profit organization of nine regional soybean processing companies, donated two 20 metric ton containers of food-grade soybeans to the World Soy Foundation (WSF), with the soybeans being shipped to Guatemala and Honduras to be used by SoyCows to feed thousands of children.

A “SoyCow” is a processing system that can grind and cook whole soybeans into soymilk to make beverages, soya “cheese” (tofu), yogurt and other soyfoods. The SoyCow can process about four pounds of raw soybeans into four gallons of nutritious soymilk in about 20 minutes. The insoluble parts of the bean can be used to enhance the nutrition of local foods, such as breads, patties, stews and other blends.

One in four children in Honduras is chronically malnourished; that rate rises to one in two children in Guatemala. These soybeans will be processed into soy beverages and foods in both countries and served in orphanages, child care centers, clinics and elsewhere to help provide valuable protein to children in need.

NFGSA member companies participating in this donation include Brushvale Seed, Richland IFC, SB &B Foods, SK Food International and SunOpta.

ASA, International, Soybean

MGEX Has Record Fiscal Year

John Davis

mgexIt was a good year trading for MGEX. This news release from the Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) says it set new all-time records in both total volume and electronic volume.

Total volume finished the year at 2,278,559 contracts traded, a 13 percent increase over the previous record set a year ago. This marks the third time ever the Exchange’s total volume has surpassed 2 million in a fiscal year, and the first time it has done so in back-to-back years.

“To accomplish such a milestone in consecutive years is a true testament to the market’s continued confidence in MGEX’s risk management products, as well as to MGEX’s commitment to expansion in the marketplace,” said Mark G. Bagan, President & CEO, MGEX. “The success in terms of total exchange volume indicates a formidable step towards the future for both MGEX and for our membership.”

Electronic volume totaled 1,974,957 during the year, 12 percent higher than the previous record set during the 2010-2011 fiscal year. Of the 12 months within the fiscal year, nine set new individual records for electronic volume.

MGEX said 10 of the top 25 electronic trading days of all time occurred during the 2014-2015 fiscal year.

Trade

Elliott Steps Down From NCGA Board

Cindy Zimmerman

fps14-ncga-robNational Corn Growers Association First Vice President Rob Elliott of Illinois has decided to step down from the NCGA Corn Board, effective September 30.

“My last 15 years as an active ‘corn guy’ have been very rewarding for me,” Elliott said. “I am proud to have been a part of my corn organizations in Illinois and on the national level and I’m proud of what we have accomplished together. I’ve worn a lot of hats throughout my career, but I’ve come to realize that the current environment makes it difficult for me to balance all the increasing obligations and expectations. After thoughtful deliberation it seems to be in the best interest of the association if I step aside. I’ve had lots of fun – while working hard, too – and will be tracking all the great progress taking place within NCGA.”

With Elliott leaving the Board, NCGA President Chip Bowling, of Maryland, and Chairman Martin Barbre, of Illinois, will retain their positions in the coming fiscal year, which begins Oct. 1. Wesley Spurlock, a corn grower from Texas, will become first vice president.

Ag Groups, Corn, NCGA