UnitedSoybean

Senate Ag Committee examines biofuel’s future

The U.S. Senate Agriculture Committee gathers testimony Tuesday in Sioux City, Iowa, on the future of biofuels. In a news release, Committee Chairman Iowa Senator Tom Harkin says the hearing is to examine prospects for expanding production, the outlook for developing advanced biofuels, emerging biomass feedstock production, and sustainability issues.

Brownfield story

Chicago Fed study shows 4% of loans have repayment problems

A survey of agricultural lenders conducted by the Chicago Federal Reserve shows that some parts of the Midwest could face a financial crisis unless dairy and livestock prices improve.

According to the study, 4% of loans are classified as having major or severe repayment problems and Wisconsin’s dairy industry is facing the biggest challenge with milk prices down more than 40% from a year ago.

That district includes Illinois, Indiana, Iowa, Michigan and Wisconsin.

Brownfield story

Projected net farm income cut

No big surprise especially for hog or dairy producers, USDA has cut their projected net farm income numbers for 2009. Back in February, the Ag Department projected net farm income for this year to be $71 billion but now, citing lower farm prices and reduced export demand, that projection has been cut to $54 billion.

If realized, it would mean a 38 percent drop in farm income from the $87.2 billion of 2008.

Brownfield story

An extremely strong week for soybean exports

According to the USDA, soybean and wheat exports for the week ending August 20 were larger than expected, corn and soybean meal were within estimates and soybean oil was below projections. Dan Zwicker of ADM called the numbers for beans “extremely strong.” However, physical shipments were less than what’s needed weekly to meet the USDA’s projections for the marketing year.

Brownfield story

Kennedy’s death could change committee assignments

Senator Ted Kennedy’s death will set off a series of changes in the Senate, including a possible change at the helm of the Agriculture Committee.  That according to a report on farmfutures.com.

Kennedy served as chair of the Senate Health Education, Labor and Pensions Committee.  Next in line to chair the committee is Iowa Senator Tom Harkin, who is currently chair of the Senate Ag Committee. Under one scenario-Arkansas’s Blanche Lincoln could succeed Harkin as head of the Ag Committee.

Brownfield story

Monsanto announces new ‘Channel’ seed brand

Monsanto has announced that the three regional seed brands of Crow’s Hybrids, Midwest Seed and NC+ Hybrids are being rolled into one, with the new brand called Channel.

Jim Zimmer, CEO for Channel Bio, says combining the three brands into one will enable Channel to simplify and streamline its business and more efficiently manage its product lineup.

Climatologist studies early freeze possibilities

With crops running one to three weeks behind normal, many farmers are hoping for an extended summer and a late freeze.

Al Dutcher, state climatologist in Nebraska, says current weather models indicate freezing temperatures could drop as far south as the U.S./Canadian border by early- to mid-September.

Brownfield story with audio

Veteran no-tiller says proposed cap and trade is unfair

Iowa Senator Chuck Grassley says one of his chief concerns with the cap and trade proposal in Congress is that it doesn’t give enough credit to those farmers who have been practicing no-till for a long period of time. 

Iowa Farmer Al Schafbuch agrees.  He’s has been no-tilling his ground since 1992.

“That really ticks me off, in that I’ve been doing the no-till and then (they) say ‘well, what you’re doing won’t count’.  That really burns us up,” says Schafbuch.

Brownfield story with audio

Farm Progress Show opens Tuesday

What’s billed as the nation’s largest outdoor farm event opens Tuesday. The Farm Progress Show is northeast of Decatur, Illinois, and features more than 500 exhibitors.

The 2009 Farm Progress show is September 1 through 3, from 8:00 a.m. to 5 p.m. Tuesday and Wednesday and until 4 p.m. Thursday.

Brownfield story

Corn, soybean export inspections slow

According to the USDA, soybean and wheat export inspections for the week ending August 20 were within estimates while corn was below expectations. Nearing the end of the 2008/09 marketing year for corn and soybeans, inspections were less than what’s needed to meet the USDA’s projection for the marketing year.

Soybeans were placed at 7.579 million bushels, 925,000 above the prior week but 1.302 million below last year.

Corn was reported at 38.554 million bushels, 6.893 million less than the previous week but 5.872 million more than a year ago.

Brownfield story