Christine's Feed
Mar 26, 2015

USDA says a quarter of farmers yet to select subsidies

CHICAGO, March 26 (Reuters) – About 25 percent of U.S.
farmers have yet to make their final selections for the
government’s new crop subsidies with the deadline to enroll less
than a week away, the U.S. Department of Agriculture said on
Thursday.

Grain farmers have until next Tuesday to choose between the
federal government’s new subsidy programs created under the 2014
Farm Bill – agricultural risk coverage (ARC), which is a
price-average option, and price lose coverage (PLC), which is a
fixed-price program.

Mar 19, 2015

U.S. spring planting stalled in South but Corn Belt set for early start

CHICAGO, March 19 (Reuters) – Planting is expected to start
early in the northern U.S. Corn Belt after a dry winter but
seeding is behind schedule in southern crop areas where it’s
been too wet, U.S. government forecasters said on Thursday.

“I would expect planting to go a little better in the upper
Midwest this spring than it will in the Ohio River Valley,” Brad
Rippey, a meteorologist with the U.S. Department of Agriculture,
told reporters at a spring outlook presentation.

Mar 19, 2015

No relief in sight for Western drought in NOAA spring outlook

CHICAGO (Reuters) – Drought pressures will increase in California and western areas of the United States this spring even as the dry season begins, the government’s Climate Prediction Center said on Thursday.

“Periods of record warmth in the West and not enough precipitation during the rainy season cut short drought relief in California this winter and prospects for above-average temperatures this spring may make the situation worse,” Jon Gottschalck, chief of the Operational Prediction Branch at the Climate Prediction Center, said in issuing its spring outlook.

Mar 17, 2015

U.S. farmers seen cutting back on pricey fertilizers, may hit corn

CHICAGO, March 17 (Reuters) – U.S. farmers will likely use
less nitrogen fertilizer this season with the cost sky-high even
though the price of natural gas, the key ingredient to make it,
is down 40 percent from last year.

The reduction in usage should hit corn plantings more than
other crops, since nitrogen is the key booster of corn yields.

Feb 27, 2015

U.S. crop insurance floor prices expected to drop again in 2015

CHICAGO, Feb 27 (Reuters) – Crop insurance price guarantees
for U.S. corn, soybeans and spring wheat in 2015 will fall 10
percent or more based on futures settlement prices for February,
grain analysts said on Friday.

The U.S. Department of Agriculture’s (USDA) Risk Management
Agency (RMA), which oversees the multibillion-dollar crop
insurance program, by law uses the average price in February for
harvest-time grain futures contracts to set the “floor”
price that private insurers must guarantee farmers who sign up.

Feb 26, 2015

U.S. soy climbs on Brazilian truck strike; corn, wheat trail

CHICAGO, Feb 26 (Reuters) – Chicago soybean futures rose on
Thursday on uncertainty over the Brazilian trucker strike, which
threatens to stall movement of the new harvest of the grain onto
the world market, traders and analysts said.

Chicago corn and wheat also ended higher, tracking the
strength in soybeans.

Chicago Board of Trade March soybeans ended 16-1/4
cents, or 1.6 percent, higher at $10.24 a bushel.

Feb 25, 2015

U.S. soybeans fall as Brazil truckers and government meet

CHICAGO, Feb 25 (Reuters) – Chicago Board of Trade soybeans retreated on
Wednesday from a six-week high on prospects for a Brazilian truck drivers’
strike to end soon, a situation that has threatened exports just as the
country’s massive soybean crop is entering world markets.

CBOT wheat fell as U.S. wheat remained too pricey in world markets and
continued to miss out on big tenders. The exception was Egypt buying 290,000
tonnes of U.S. wheat on Tuesday, but the purchase was financed with U.S. credit.

Feb 12, 2015

U.S. Corn Belt farmland values down 3 pct in 2014, first fall since 1986 – Chicago Fed

CHICAGO, Feb 12 (Reuters) – The average price of quality
U.S. farmland fell 3 percent in 2014, marking the first annual
decline in almost 30 years, the Federal Reserve Bank of Chicago
said in its quarterly survey of district bankers on Thursday.

“The District’s annual decrease of 3 percent in good
farmland values for 2014 was the first loss for a year since
1986,” the bank said in its survey of 224 regional farm banks in
the north-central United States, the main production area for
corn, soybeans and hogs. “Still, at the end of 2014 the index of
inflation-adjusted agricultural land values for the District was
68 percent higher than at its 1979 peak from the 1970s boom.”

Feb 6, 2015

U.S. soy, corn turn lower as dollar rises on jobs data

CHICAGO, Feb 6 (Reuters) – U.S. soybeans and corn turned
lower on Friday as a jump in the dollar on strong employment
data spurred technical selling in the grains, traders said.

Additionally, forecasts of record soybean production in
South America and a large corn harvest continue to overhang
prices.

Feb 6, 2015

Rowdy ‘open outcry’ reaching quiet end for longtime CBOT corn trader

CHICAGO, Feb 5 (Reuters) – The boisterous world Kevin Duffy
entered 34 years ago to run paper slips into trading pits at the
Chicago Board of Trade was an age apart from today, when
open-outcry trading only intermittently disrupts the quiet hum
of computers.

The Chicago corn market was a noisy, bruising, frantic place
where traders and commercial brokers establish prices for future
deliveries of grain. Trading on the CBOT had a self-descriptive
moniker: “open outcry.”

    • 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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