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Tag Archives: commodity prices

COVERING THE BASIS: LOCAL CROP PRICES REMAIN WEAK

Many farmers will store this year’s harvest wherever they can find room and wait for better prices as basis levels at many locations around the state continue to offer little incentive to sell crops off the combine. Aaron Curtis, commodity risk consultant for Mid-Co Commodities, said high rates and better-than-expected yields have contributed to the… read more

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USDA BREATHES LIFE INTO CROP MARKETS

Farmers hope the harvest lows are behind them as a rally in the soybean market lent a little support to corn prices. USDA surprised traders Thursday by trimming its national soybean yield estimate by 0.4 of a bushel to 49.5 bushels per acre. Dale Durchholz, AgriVisor senior market analyst, said the revision could add support… read more

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ACREAGE REPORT, WEATHER SPUR MARKET RALLY

The crop markets finished June on a high note due to a combination of USDA estimates and weather concerns. USDA, in its much-anticipated June 30 acreage report, pegged U.S. soybean plantings at a record 89.5 million acres and corn plantings at 90.9 million acres. Analysts believe prices could continue to rally if the weather turns… read more

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U.S. EXPORTS TO #MEXICO FALL

Tensions about #NAFTA are starting to cut into sales for farmers while they continue to struggle with low commodity prices and excess global supply. Over the first four months of 2017, Mexican imports of U.S. soybean meal dropped 15% – the first decrease for the period in four years, according to the USDA. Shipments for… read more

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WILL #CORN PRICES REMAIN RANGE-BOUND?

#Farmers are ready to pounce if and when the corn cash price ever gets to $4-plus. But will they get that opportunity? The market in western Illinois the middle of last week traded at $3.45 per bushel cash, $3.65 for November and $3.77 for March 208. “Corn has been in a pretty tight trading range… read more

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FARMLAND PRICES STEADY DESPITE FALLING CROP PRICES

A plunge in farmland values resembling the 1980s decline “remains unlikely,” with a shortage of acreage for sale helping to support prices, a Federal Reserve economist said Monday. Despite the drop in prices for corn, soybeans and wheat, land values haven’t fallen as much because of low interest rates, limited supply and generally favorable balance… read more

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OIL IMPACT

As many as a third of American oil-and-gas producers could tip toward bankruptcy and restructuring by mid-2017, according to Wolfe Research. Observers say crude oil may dip into the $20/barrel range soon.

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WHEAT LAWSUIT GETS GO AHEAD

Few companies need wheat as much as Kraft Foods, which uses it to make snacks, including Oreos, Ritz crackers, Wheat Thins and Chips Ahoy! But the food giant hasn’t always paid what it should for the cereal grain, according to federal regulators who say executives at the firm cooked up a scheme to manipulate the… read more

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ILLINOIS GRAIN FARM INCOME DOWN 81% THIS YEAR

A sharp drop in Illinois grain-farm income for 2015 could continue for several years as a result of low commodity prices, according to University of Illinois projections released Wednesday.  The average $20,000 profit projected this year compared with $104,000 in 2014 would be at levels not seen since 1998 through 2002.  The 81% drop follows… read more

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FARM OUTLOOK

In 2015 & 2016, average net incomes on grain farms in Illinois are projected at levels similar to those from 1998 through 2002, the last time very low incomes occurred in agriculture. Current projections place average net income on Illinois grain farms at about $20,000 per farm, considerably below the $104,000 per farm average for… read more

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