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

Storing the 2014 Corn Crop (7/28/2014)
The majority of annually produced crops such as corn obviously have to be stored. For corn producers, the question at harvest time will be who will store the portion of the crop which has not yet been sold? Read the column...
 
Corn Price Premiums Continue to Fade (7/21/2014)
Corn was the primary focus of the agricultural commodity complex beginning in the 2006-07 marketing year and continuing through the 2012-13 marketing year. Corn prices during that period were supported by a rapidly growing domestic ethanol industry that required more acres of corn and by relatively poor U.S. corn yields in 2010, 2011, and especially in 2012 that kept corn supplies very tight. Read the column...
 
How Burdensome Are Corn Supplies? (7/14/2014)
Corn prices have been declining for almost two years following the peak price generated by the very small U.S. crop in 2012. The recent sharp decline in prices has been associated with increasing prospects for a very large U.S. corn harvest again in 2014 following the record harvest of 2013. A second consecutive large crop would lead to a further build-up in stocks of corn by the end of the 2014-15 marketing year. Read the column...
 
Release of 2015 Crop Budgets (7/8/2014)
The 2015 Illinois Crop Budgets are available in the management section of farmdoc.  Budgets are given for corn, soybeans, wheat, and double-crop soybeans grown in northern, central, and southern Illinois. Central Illinois is further divided into categories for high and low productivity farmland.  Overall, 2015 returns are projected at the same levels as 2014 returns, which are considerably lower than returns from 2010 through 2013.  These lower returns signal the need to reduce 2015 cash rents. Read the FEFO...
 
Pork: USDA Reports Help Brighten Outlook (7/7/2014)
Pork producers might want to say thank you for the recent USDA reports that have sharply brightened their profit outlook. The first of those was the June 27th Hogs and Pigs report indicating that breeding herd expansion had not yet started and that baby pig death losses from the PED virus continued to be high last spring. The second beneficial numbers came in the June 30th Grain Stocks and Acreage reports which were contributors to rapidly falling corn and soybean meal prices. Read the column...
 
Large Corn and Soybean Stocks and Large Crop Potential (6/30/2014)
The USDA’s June Grain Stocks report showed much larger June 1 stocks of both corn and soybeans than had been anticipated by the market. The Acreage report revealed much larger acreage of soybeans than had been anticipated. Read the column...
 
Prospects for Grain Farm Incomes in 2014 (6/24/2014)
Average grain farm incomes in 2014 likely will be much lower than 2013 incomes. Corn prices near $4.20 per bushel combined with above average yields could result in average incomes on grain farms in Illinois around $45,000 per farm, slightly below the average for the years from 1996 through 2005. Read the FEFO...
 
Anticipating the Soybean Stocks and Acreage Estimates (6/23/2014)
On June 30, the USDA will release an estimate of U.S. stocks of soybeans as of June 1 and forecasts of planted and harvested acreage. Both reports will provide important information to the soybean market, but the acreage forecasts should have more important price implications than the stocks estimate since soybean consumption is mostly already known. While the acreage estimate may be more important, there is more to say about the stocks estimate. Read the column...
 
Potential for U.S. Average Corn and Soybean Yields (6/16/2014)
The U.S. average corn yield was record large in 1985, 1986, and 1987 and established new highs five times in the succeeding 26 years. Similarly, the U.S. average soybean yield was record large in 1985 and established new highs eight times in the succeeding 26 years. The most recent record yield was in 2009 for both crops. Average yields were below trend value in each of the past four years. Read the column...
 
Importance of Month-End USDA Reports for Corn (6/9/2014)
The USDA will release its quarterly Grain Stocks and Acreage reports on June 30. These reports provide important fundamental information that will set the tone for the corn market going into the critical stage of the growing season. There is always opportunity for surprises in these reports and there is particular interest in the estimates this year given the $0.70 decline in corn prices over the past month. Read the column...
 
Non-Land Costs for Corn Increased in 2013 (6/3/2014)
Summaries of farms enrolled in Illinois Farm Business Farm Management (FBFM) indicate that 2013 non-land costs for producing corn were $615 per acre in central Illinois for high-productivity farmland. The $615 per acre cost in 2013 was $34 per acre higher than in 2012. Read the FEFO...
 
Hog Prices Take Big Drop: What’s Next? (6/2/2014)
Speculation that the PED virus had greatly reduced pig numbers took lean hog futures prices to astounding heights. Now, markets have a better understanding that while the PED virus certainly did its damage, death loss may have been over anticipated in February and March and that producers have been able to compensate for a substantial portion of lost animals by much higher weights. Read the column...
 

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