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Tag Archives: Corn

EPA BOOSTS AMOUNT OF ETHANOL IN GASOLINE SUPPLY

The Obama administration is boosting the amount of corn-based ethanol and other renewable fuels in the U.S. gasoline supply. The Environmental Protection Agency on Monday announced a rule to increase production of ethanol to be blended with gasoline through 2015. The decision doesn’t necessarily mean a higher percentage of ethanol in a driver’s tank, but… read more

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EXPORT TAXES

The new Argentine president will start off his new administration by eliminating the export taxes on corn and wheat. Mauricio Macri will also drop the soybean export tax rates by 5% a year until it is eliminated in seven years.

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STABLE SEED PRICES

A top executive at Monsanto Tuesday suggested the company expects 2016 corn seed price increases only in the low single digit gains, similar to their plans last year at planting time.  He said soybean pricing plans will be released at later date.

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FARMERS PLEASED

As harvest ends, local farmers are pleased with crop yields. Farm manager Kurt Bangert says corn yields have ranged from 200 to 250 bushels per acre; soybeans ranged between 60 and 80 bushels/acre, as reported by the Pantagraph.

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CHINA CORN CROP

The record corn crop China was counting on to sustain its huge pork habit is coming up short. Drought and late-season rains have stunted yields, according to the Daily Journal & Bloomberg.

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HARVEST FINISHING

USDA’s weekly Illinois crop report indicates farmers are closing in on the finish line. 96% of corn and soybeans are harvested statewide.  89% of winter wheat is planted, with emergence well ahead of last year’s pace.

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CROP INSURANCE

The spring guarantee price of $4.15/bu for corn and $9.73/bu for soybeans for crop insurance revenue claims will remain in force.  The harvest prices determined during October were lower than the spring guarantee rates.

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WATCH ARGENTINA’S ELECTION

Corn could get cheaper in December if Mauricio Macri is elected president of Argentina, Dr. Michael Cordonnier says. Macri promises to eliminate all export taxes on corn and wheat out of Argentina on day one.  Runoff election is scheduled for Nov. 22.

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FERTILIZER TRENDS

The possibility for lower fertilizer prices seems to be in the cards looking into 2016, Ag economist David Widmar says. However, several things can happen between now and spring 2016. The biggest wildcard is corn acres planted (or anticipated planted) in 2016. Conditions in 2015 strongly favored soybean acres. Looking at current crop budget estimates,… read more

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ILLINOIS HARVEST AT THE HALFWAY MARK

Corn and soybean harvest are about 50% complete, according to the Illinois Department of Agriculture. In its weekly crop report on Tuesday. The department said Illinois is forecast to be the country’s No. 1 soybean producers this year and No. 2 corn producer behind Iowa.

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