Christine's Feed
Dec 19, 2014

Outgoing USDA chief economist sees China, foreign data as key

CHICAGO (Reuters) РChina will become an even bigger market for U.S. farm goods in coming years but obtaining accurate information on the country’s food situation will remain a big challenge, according to U.S. Agriculture Department Chief Economist Joseph Glauber.

“There is no question in my mind that China is and will become an even bigger market for feed grains,” Glauber, who retires at year-end after 30 years at USDA, told Reuters in an interview. “Obviously we’ve been saying that about China for a long time but the evidence certainly points in that direction now.”

Dec 18, 2014

Iowa farmland prices down 8.9 pct in 2014, biggest drop since 1986

CHICAGO, Dec 18 (Reuters) – The average price of Iowa
farmland slumped 8.9 percent in 2014, the largest annual decline
since 1986 as crop prices fell, according to the Iowa Land Value
Survey released on Thursday.

It is only the second year since 1999 that the benchmark
survey, conducted in November by Iowa State University
researchers, has shown a decline in farmland values. The
findings are similar to those of the Realtors Land Institute and
the Federal Reserve Bank of Chicago.

Nov 19, 2014

U.S. farmers set to get huge government payouts despite bumper harvest

WASHINGTON/CHICAGO (Reuters) – U.S. farmers are about to reap a bumper harvest not just in corn and soybeans but also in new subsidies that could soar to $10 billion, blowing a hole in the government’s promise that its new five-year farm bill would save taxpayers money.

If payments for 2014, the first year the farm bill takes effect, do come in at that level – as some private economists have calculated – they would be more than 10 times the U.S. Department of Agriculture’s working estimate and more than double the forecast by the Congressional Budget Office.

Nov 13, 2014

Fed banks say U.S. farmland values steady, weakness ahead

CHICAGO, Nov 13 (Reuters) – Farmland prices in the U.S. Corn
Belt and central Plains were mostly steady in the third quarter,
but weakness was likely before year-end as farmers absorb the
impact of 5-year lows in grain prices, regional Federal Reserve
banks said on Thursday.

“The downturn in crop prices of the past two years finally
extinguished the trend of rising farmland values that had
prevailed in the District since the fourth quarter of 2009,” the
Federal Reserve Bank of Chicago said, reporting land prices fell
2 percent from the second quarter but were unchanged from a year
ago.

Oct 24, 2014

Softer U.S. farmland auction prices in spotlight this autumn

CHICAGO, Oct 24 (Reuters) – The red-hot U.S. farm land
market is cooling with prices for prime acreage steady to lower
so far this autumn but holding up better than expected with
grain prices near four-year lows, farm managers and auctioneers
said on Friday.

“It’s getting softer but there’s no panic in the streets.
The market is taking a breather,” said Jim Farrell, head of
Omaha, Nebraska-based Farmers National, the largest U.S. farm
management company.

Oct 20, 2014

No export bonanza this year from record U.S. harvest

CHICAGO (Reuters) – The largest U.S. grain harvest in history has pushed prices to four-year lows, which usually means a sales bonanza for the world’s largest food exporter. Not this year.

Traditional rivals and aggressive new competitors with their own huge harvests, such as Ukraine and Russia, are leveraging the dollar’s strength to snap up a bigger share of a market that is shrinking as importers themselves boost output.

Sep 24, 2014

CME says no current plans to introduce VSR in corn futures

CHICAGO, Sept 24 (Reuters) – CME Group Inc, owner of
the Chicago Board of Trade grain exchange, said on Wednesday it
had no immediate plans to introduce its controversial variable
storage rate (VSR) scheme in its CBOT corn futures, the world
pricing benchmark for the biggest and most valuable feed grain.

“We have no current plans to implement VSR in corn,” CME
spokesman Damon Leavell told Reuters.

Sep 17, 2014

Iowa farmland prices ease 3.4 pct over past 6 months – survey

Sept 17 (Reuters) – Farmland prices in Iowa, the top U.S.
corn and soybean state, were down an average 3.4 percent over
the past six months, and more than 8 percent from a year ago -
pressured by lower grain prices and firmer interest rates, a
twice-yearly survey of realtors said on Wednesday.

The average selling price for Iowa farmland as of Sept. 1
was $8,000 an acre, compared with $8,278 six months earlier,
according to the Iowa Realtors Land Institute survey based on
information from farm real estate brokers, lenders and others
with knowledge of land prices.

Sep 12, 2014

First freeze causes little damage to U.S. Northern Plains crops

CHICAGO (Reuters) – The U.S. northern Plains and far western Midwest crop regions saw their first freeze of the season but the cold temperatures were only in pockets of the belt, limiting damage to immature corn and soybeans, agricultural meteorologists said on Friday.

The forecast called for more cold temperatures in the northern Corn Belt on Saturday morning after lows on Friday morning ranged from the mid-20s to low-30s degrees Fahrenheit (minus 3.9 to 1.7 Celsius) from western Nebraska northward into the western Dakotas, Colorado and Montana.

Sep 7, 2014

No crash in U.S. farm land seen despite tumbling grain prices

CHICAGO, Sept 7 (Reuters) – David Fullington paid a
“ridiculous” price of $13,600 an acre for a 200-acre (81
hectares) farm in Illinois within the last year and says he and
his partners would probably bid again for prime land that is in
tight supply, despite tumbling grain prices.

“No regrets at all,” Fullington said of the purchase of his
neighbor’s land, now farmed by a son of one of his partners.
“Very seldom do you get an opportunity to buy something right
next door to you. There’s always a little extra value there for
you.”

    • About Christine

      "As community editor for Thomson Reuters global on-line chatroom for grains traders and analysts, the Global Ags Forum, I lead chats on the latest factors driving grains and oilseeds markets worldwide, organize chat events with expert industry sources and promote the room to potential market players. Based in Chicago, I also report on U.S. cash and futures grains and oilseeds markets."
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