Brooks Schaffer Market Report for Friday, June 5th
This is the SFN Market Report with Brooks Schaffer of Palmetto Grain. Reach him at brooks@palmettograin.com or 843-540-4540. At least when we were on the roller coaster, it went up sometimes. This week has been all about money flow. The spec money has been flowing out of the grains. Changes in the outside markets have ...
The Potential Impact of NWS in the Cattle Market
Now that the New World Screwworm has officially crossed the U.S. border with Mexico, how will the cattle markets react? Arlan Suderman, the chief commodities economist for StoneX, said the markets have been anticipating this would happen at some point. "We've been seeing some weakness in this market the last few d...
Rain Gives Farmers a Boost as Drought Conditions Improve
So, we have had some rain over the last couple weeks, but what has that done to the drought map? Have we seen any improvements? Well, from what I understand, we have seen some slight improvements. We've got State Assistant Climatologist Corey Davis here. Corey, talk to us about the drought map. What did that rain over ...
Recognizing Progress Amid Cattle Industry Challenges
During a recent cattle producer mid-year meeting, Skye Krebs, the vice president of the National Cattlemen's Beef Association, said many challenges still face the industry. However, it's important to take a step back and celebrate recent victories for producers. "We have got some wins here lately. A lot of positiv...
Ag Economy Barometer Drops in May
The Purdue University/CME Group Ag Economy Barometer dropped in May. Michael Langemeier, director of Purdue University's Center for Commercial Agriculture, talked about the decline. "The Purdue University/CME Group Ag Economy Barometer declined from 121 in April to 119 in May, driven primarily by worsening views o...
Rollins: NWS Closer to U.S. Border, but Plans in Place
The New World Screwworm is closer to the U.S. border with Mexico. Ag Secretary Brooke Rollins said Mexico reported several new cases last week. "Just recently, Mexico reported eight new detections of New World Screwworm late last week. These should all be on the screwworm.gov website, so I don't think this is new ...
Farmland Values, Cash Rents See Declines
After years of rising values, the price of farmland saw a decline over the past year specifically in the Federal Reserve Ninth District. Joe Mahon, Regional Outreach director at the Federal Reserve Bank of Minneapolis, surveyed ag lenders in Minnesota, Wisconsin, Montana, Michigan and North Dakota. "We saw a decl...
University of Illinois Studies Consolidation in the Fertilizer Industry
The FarmDoc team at the University of Illinois has posted a new article about consolidation trends in the U.S. fertilizer industry. Henrique Monaco led that team. The research finds that the United States accounts for about 10 to 15 percent of total global fertilizer consumption. Monaco breaks that out by N, P, and K f...
Enrollment Open for Specialty Crop Farmers Program
The nation's Agriculture Secretary made a stop in California to announce additional aid for specialty crop growers. Brooke Rollins toured Allied Potato in Bakersfield this past Friday and announced additional help for farmers. Rollins says the Specialty Crops Farmers Program will provide $1.6 billion in payments to eli...
Some Optimism Despite E15 Challenges in the Senate
After passing through the House of Representatives, year-round E15 legislation awaits action in the U.S. Senate. Rodney Weinzierl, past president of the Illinois Corn Growers, says despite some initial concern, he's still optimistic it will get through the Senate. "I'm optimistic that we might have a chance. Of co...