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The following materials have been added to farmdoc in the past 60 days:

Projected Corn Gross Revenues Down in 2014 and 2015 (10/21/2014)
Per acre gross revenue for corn in 2014 is projected to be $808 per acre in northern Illinois, $292 lower than the 2011 through 2013 average of $1,100 per acre. Given the current price outlook, average gross revenue in 2015 is projected lower than 2014 revenue. These lower revenues will require cash flow adjustments on farms. Read the FEFO...
 
Crop Storage Issues May Be Less Severe Than Anticipated (10/20/2014)
The large size of fall harvested crops in the U.S. have raised very real concerns about the ability to readily store the record supply of crops available this year. Supplies that exceed permanent storage capacity require the use of temporary storage facilities or may require delayed harvest in some circumstances. However, weather related harvest delays to date and a rapid rate of consumption mean that overall storage issues may be less severe than feared this year. Read the column...
 
How Many Acres of Corn Are Needed in 2015? (10/13/2014)
One of the functions of crop markets is to direct planting decisions of U.S. producers. That process begins with fall seeded crops, primarily winter wheat, and continues through the following spring. The market’s assessment of the amount of acreage needed of various crops in any production cycle is complicated and continually changes. Read the column...
 
Big Year for Ethanol (10/6/2014)
Ethanol production, consumption, and stocks data are typically reviewed on a calendar year basis since Renewable Fuel Standards (RFS) are established for calendar years. However, since corn is the major feedstock for domestic ethanol production, ethanol data on a corn marketing year basis (September-August) are important for monitoring and anticipating marketing year corn consumption. Read the column...
 
More Pork Please! More Quickly (9/29/2014)
More Pork Please! That has been the scream of pork consumers this year who have paid record high prices at retail. The latest USDA Hogs and Pigs report suggests that pork producers will be able to get more pork to consumers and to get it to them more quickly than had been anticipated. Read the column...
 
Monitoring Corn and Soybean Consumption (9/22/2014)
The corn and soybean markets appear to be expecting the USDA’s already very large U.S. production forecasts to be increased in the October 10 Crop Production report. Larger crop expectations stem from expectations for higher yield forecasts, with some disagreement about the prospects for changes in acreage estimates. The implication of large crops for the magnitude of year-ending stocks obviously depends on the consumption response. Read the column...
 
Will Non-Land Costs Decrease in 2015? (9/16/2014)
Modest decreases in costs are projected for 2014. It is, however, difficult to identify where further large decreases in costs will occur in 2015. Fertilizer and seed costs need to decrease if non-land costs are to continue to lower levels. Read the FEFO...
 
Update on Corn and Soybean Acreage (9/15/2014)
The USDA’s Crop Production report to be released by the National Agricultural Statistics Service (NASS) on October 10 may contain revised estimates of planted and harvested acreage of corn and soybeans. Revisions would be based on information revealed in the October Agricultural and Objective Yield surveys as well as other administrative data. Other administrative data consist primarily of certified acreage estimates received by the Farm Service Agency (FSA). The Farm Service Agency requires that producers participating in several federal commodity programs submit an annual report regarding all cropland use on their farms. Acreage is reported in three categories: planted, prevented planted, and failed. Read the column...
 
Cash Rents in 2014 and Expected Cash Rents in 2015 (9/9/2014)
Expected 2015 rents point to decreasing cash rent levels on professionally managed farmland. Whether or not other cash rents follow professionally managed cash rents down is an open question. Read the FEFO...
 
September 1 Corn Stocks Estimate - Does It Matter? (9/8/2014)
Corn prices continue to be dominated by expectations of a very large U.S. harvest. The USDA will release a new forecast of the size of the crop on September 11. The market expectation is that the new forecast will be about 250 million bushels larger than the August forecast and that the forecast is likely to be larger again in October, reflecting an U.S. average yield well above trend value. Read the column...
 
Rebuilding U.S. Animal Industries (9/2/2014)
Everyone is familiar with the phrase, "What goes up must come down!" Grain prices seem to be following this old axiom, with substantial questions remaining of "how far down?" For U.S. animal product consumption the phrase could be reversed, "What goes down must come up!" Read the column...
 
Looking for a Corn Consumption Response (8/25/2014)
In the newsletter of August 11, the prospects for corn consumption to respond to lower prices during the 2014-15 marketing year and the potential for a subsequent price recovery were discussed. With the start of the new marketing year only a week away, the process of monitoring corn consumption and corn consumption prospects in the three major categories of feed, ethanol, and exports is underway. Not much is yet known about consumption prospects, but we start what will be an ongoing process of updating those expectations. Read the column...
 

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