Christine's Feed
Jan 7, 2014

Frigid blast hits U.S. Midwest soft red wheat crop

CHICAGO, Jan 7 (Reuters) – The U.S. Midwest and Plains
remain in a deep freeze on Tuesday morning, with sub zero
temperatures at record or near-record lows, raising the risk of
winter-kill damage to dormant wheat along the Ohio River valley,
meteorologists said.

Overnight lows fell to -5 to -10 degrees Fahrenheit (-20 to
-23 Celsius) across southern Indiana, Ohio, Illinois and
northern Kentucky – big soft red winter wheat country, where
much of the area was unprotected by snow cover.

Jan 6, 2014

Brutal cold slows U.S. farming and meat business

CHICAGO, Jan 6 (Reuters) – The coldest weather to hit the
central United States in two decades disrupted grain and
livestock shipments throughout the nation’s farm belt on Monday,
curbed meat production at several packing plants and threatened
to damage the dormant wheat crop.

The near-record cold followed a winter storm that dumped
more than a foot of snow in some areas over the weekend, closing
roads in northwest Indiana and preventing workers from reaching
pork plants, grain elevators and processing plants in the
northern half of the state, industry sources said.

Jan 3, 2014

Distillers grain prices slump as China rejections clog pipeline

CHICAGO, Jan 3 (Reuters) – The price of distillers’ dried
grain has slid 20 percent in a week as U.S. exporters shied away
from selling the corn-based feed grain to its top customer China
after Beijing rejected shipments containing an unapproved GMO
corn strain.

“Everyone is just nervous. If you load something no one
knows if someone is going to take it or not,” said Ryan
McClanahan, a Kansas City-based trader with Commodity
Specialists Co, which supplies DDGs to both domestic and export

Dec 24, 2013

High cash rents to squeeze U.S. Midwest grain farmers in 2014

CHICAGO, Dec 24 (Reuters) – Rents on prime U.S. crop land
are expected to stay high in 2014 despite a sharp drop in grain
prices, raising financial pressure on farmers who rent most of
their land and risk big losses in the coming year, analysts and
bankers say.

More than half the 250 million acres (101 million hectares)
of corn, soybean and wheat land in the United States, the
world’s biggest grain exporter, are rented. Negotiations on 2014
farm land leases are going on in the Corn Belt and Great Plains,
with farmers, absentee owners and their farm managers, and farm
lenders all penciling out projected grain growing profits and

Nov 25, 2013

U.S. farm sector bracing to ‘sober up’ from boom in 2014

CHICAGO, Nov 25 (Reuters) – After more than six years of
unprecedented boom in the U.S. farm economy driven by a
government-backed drive for biofuels, record low interest rates
and rising food exports, American grain farmers and their
bankers are bracing for change.

U.S. farmers have just finished harvesting their largest
corn crop in history – taking the steam out of a long bull
market. Earlier this month the Obama administration also
signaled that renewable fuels were losing political favor as the
Environmental Protection Agency proposed cutting the amount of
corn-based ethanol oil refiners must blend into U.S. fuel

Nov 15, 2013

U.S. crop price decline cools farmland value boom-Fed

CHICAGO, Nov 15 (Reuters) – Falling crop prices from a
bumper 2013 harvest dampened buyer interest in U.S. Plains and
Midwest farmland in the third quarter, slowing price gains after
years of record advances, regional Federal Reserve data showed
on Friday.

The Kansas City Federal Reserve, surveying 219 farm bankers
in its leading region for wheat, corn and cattle, said farmland
price gains in the quarter were only 1-3 percent higher on
average from the second quarter, compared to the usual
double-digit annual growth seen in previous years.

Nov 14, 2013

U.S. Midwest farmland prices soften in Q3-Chicago Fed

CHICAGO, Nov 14 (Reuters) – Farmland prices in the heart of
the U.S. Corn Belt softened in the third quarter from the prior
three months and overall values in the top corn-producing state
of Iowa eased, tracking grain prices lower, according to a
quarterly survey of agricultural bankers issued on Thursday by
the Federal Reserve Bank of Chicago.

For the district overall – which stretches across Iowa,
northern Illinois and Indiana as well as Wisconsin and Michigan
- farmland prices were up 1 percent in the July-September
quarter from the previous quarter and up 14 percent
year-on-year, the Chicago Fed said.

Nov 12, 2013

U.S. farmland buyers more selective but still pay for prime

CARLINVILLE, Illinois, Nov 12 (Reuters) – Buyers of U.S.
farmland appear undaunted by falling grain prices, paying top
dollar for prime parcels coming up at autumn auctions although
showing a more cautious tone than in recent years, farmland
auction participants said at a sale last week.

“It’s more dependent on where a farm is located than the
general land market. The person the farm is near matters more
than the type of farm,” said Bruce Huber, an Illinois real
estate broker who handled a sale in central Illinois last week.
“Last year, it was just up, up, up.”

Nov 12, 2013

U.S. Congress has about 50/50 chance of passing farm bill in 2013 -analyst

MINNEAPOLIS, Nov 11 (Reuters) – The chances of the U.S.
Congress passing a five-year farm bill by year’s end are a
little better than 50/50 given the gridlock over food stamps for
the poor, a top farm policy expert said on Monday.

“There is a slightly better chance than 50/50 that we will
get a bill rolled into a budget at the end of the year. But it’s
no better than that,” Barry Flinchbaugh, a Kansas State
University agricultural economist who advises legislators
shaping the U.S. farm bill, told Reuters on the sidelines of a
farm bankers meeting in Minneapolis.

Nov 5, 2013

US ethanol plants reopen as record corn harvest boosts margins

CHICAGO, Nov 4 (Reuters) – U.S. ethanol plants that have
been shut for as many as five years are now coming back online
as a record U.S. harvest has pushed down corn prices and
improved profit margins for makers of the biofuel.

Agribusiness giant Cargill Inc on Monday said it
restarted a plant in Fort Dodge, Iowa, that the company
purchased in 2011 from corn processor Tate & Lyle.

    • 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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