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Big this week: Crop worries & debt deals
Bullish USDA numbers, crumbling crop conditions, unsettled markets and policy action were all big stories in agriculture over the past week. Click through this slideshow to see this week's big ag stories.
Crop losses adding up
A private forecaster projected corn & soybean output won't reach levels estimated by USDA, which released declining crop ratings for corn & beans this week.
Let the corn rationing begin
With its 153-bushel-per-acre yield guess for this year's crop and lower usage data for both old- and new-crop corn, USDA sent a clear signal Thursday morning that it is time to ration. And, that means only one thing for corn prices moving forward.
CME raises corn limits
The CME Group this week announced it's increase daily price limits for corn futures and options. Effective Monday, August 22, daily price limits for CBOT Corn futures, Corn options, and Mini-sized Corn futures will increase to $0.40 per bushel from the current $0.30 per bushel.
The sky is not falling...
Even though the markets have been on a wild ride lately, it doesn't mean the 'sky is falling' just yet, especially with a lot of growing concerns about the shape of the corn crop, say Marketing Talk members.
Farm Credit gets boost from downgrade
Farmers who borrow from the Farm Credit System don’t need to join the panic on Wall Street yet. Standard & Poor's downgraded debt issued by entities that have ties, no matter how strong or weak, to the federal government.
No CDL? No worries
If you haul grain as part of a crop share agreement with your landlord, you’re not going to have to get a commercial driver’s license (CDL). That’s what the Department of Transportation says in an official guidance issued Thursday.
Another bullish land value survey
The financial world's on shaky footing around the nation. But, there's still a sector that seems unfazed by recent economic tumult: Farm land. Farm real estate saw an almost 7% increase in value over the last year, according to a survey released this week.
Plains demand buoys alfalfa prices
Farmers in the drought-ravaged Plains are running low on hay and straw, and it's got market prices around the country running higher as cattle producers scramble to nail down supply when and where they can.
Goss's Wilt coming on strong
Corn prices are still pretty high, so it's putting a premium on raising a high-yielding, disease-free crop. But now, Goss's Wilt is threatening to pull those yields down. See what to look for and how to deal with the bacterial disease.
Look out for higher fertilizer prices
One company's leaders say they have seen reason to believe fertilizer prices could be spiking moving into this fall.
Bill Gates gets in on ag stock with Deere buy
A big stock buy on Wednesday has forged a bond between 2 giants of modern industry, albeit from altogether different sectors: Bill Gates has bought 5% of Deere & Company.