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Tag Archives: commodity prices

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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FARM OUTLOOK

Projected gross revenue for corn stands at $814 per acre, down from $864 per acre in June on highly productive central Illinois farmland.  University of Illinois economists now project lower gross revenue and lower total non-land costs due to continued decreases in corn and soybean prices. More at FarmWeekNow.com.

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STEEP FARM INCOME DECLINE FORECAST

U.S. farm incomes will decline 36%t this year to the lowest level in nine years, the Agriculture Department projected Tuesday, reflecting a continued slump in crop prices and recent weakness in the dairy and hog markets. Net farm income will drop to $58.3 billion from $91.1 billion in 2014, the Wall Street Journal reports.

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CROP REPORT FOLLOWUP

Prices for corn/soy immediately dropped to levels consistent with the average farm price projected in the August WASDE report ($3.65 for corn and $9.15 for soybeans). While lower corn production forecasts are possible in future reports, FarmDoc says a recovery in corn prices is likely dependent on improving domestic and world economic conditions that now… read more

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SUPPLY EXPECTATIONS SEND CORN PRICES UP

Corn prices jumped to a one-year high after federal forecasters trimmed their estimates of this year’s U.S. harvest and lowered the outlook for near-term supplies of the grain.  Soybeans prices also rose, buoyed by lower-than-expected forecasts for domestic stockpiles. Corn prices for July delivery rose six cents to $4.2725 a bushel on the Chicago Board… read more

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RIVER UPDATE

CME Group on Thursday lifted Illinois River terminal ‘force majeure’ for corn and soybean futures deliveries.

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2016 FARM BUDGETS

U of I’s Gary Schnitkey says projected 2016 crop returns show a continuing need to adjust to lower returns. He says cash flows will need to be reduced even if corn prices are above $4.00 per bushel

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WEATHER RALLY

Grain markets ripped higher Friday with our persistent and excessive wet weather pattern driving the shorts out of the markets.  For the week, corn has gained 32 cents, wheat 66 and beans 47.  

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CROP INSURANCE

So far this month, corn prices are averaging $4.13 vs. last year’s $4.62.  Soybean prices this month are currently averaging $9.58 vs. last year’s $11.36, with the remainder of February to go.

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