Search
Displaying 241 - 250 of 708
December 24, 2020
Grain Market Outlook
rate of 21.2
mb shipped to meet the USDA projection of 985 … to 8.5 mb/week needed to meet the USDA’s projection of … relationship occurred in the two other years (MY 2017/18 & MY 2019/20 …
Breakout Sessions
Pumping
A cost imposed on others from my action1. Extraction … reduces water available for other users2. Extraction by one … increases depth to water for other users and thus increases …
January 1, 2013
Land Leasing
Forms
information about this and other leases, visit http://AgLease101.org
Farm … them, but are still usable. Other operators want
the services … presented. Finally, several other important considerations …
January 1, 1999
Financial Statements and Ratios
generated by
business sales and other
receipts minus cash
operating … that the
business has for meeting cash flow requirements.
Cash … of cash that is needed
to meet all of the cash needs of …
November 10, 2016
2016 Crop Insurance Workshop Presentations
not qualify as market readiness
operations (minimal, on farm, in field or close proximity to field)
must be adjusted out of the commodity’s revenue. This is
because these costs are not at risk from a commodity production
point of view and are not allowed to be covered under the
Federal Crop Insurance Act. Leaving market readiness costs in
the insured revenue was a change provided by the 2014 Farm Bill
to help make whole‐farm insurance more convenient and
simpler for producers growing specialty crops for specialty
markets.
If other crop insurance is purchased at the CAT level, the farm is
not eligible for WFRP.
7
8
9
10
If a farm has allowable revenue higher than the maximum, it is
not eligible for WFRP.
If farms have too much revenue from animals/animal products
or greenhouse/nursery, they are not eligible for WFRP.
If growing the actual crop (not just the plant) then the crop
would be listed as, for example, tomatoes, not
greenhouse/nursery.
11
12
13
14
Revenue for the year will be determined using …
December 4, 2020
Ag Law Issues
many farm and
ranch (and other) estate plans. If farmland … eligible to be
exchanged for other real property and have the … trust for estate planning (or other) reasons doesn’t eliminate …
November 3, 2023
Ag Law Issues
and speaking schedule, and
other duties that I have. But … livestock, which may be in a year other than the year in which the … one purpose but are not for other purposes. The issue of what …
November 1, 2009
KFMA Newsletters
at a later
date.
To meet the labor demands of farms … those
decisions through other employees; therefore
these … authority does not extend into other areas of the
operation …
April 26, 2017
Risk Management Strategies
simple formula and it is based other formulas that determined … forfeit
their wheat will have meet minimum wheat quality standards … or better, not mixed with other classes of wheat, no heat …
December 12, 2018
Grain Market Outlook
1
Monitoring the Convergence Performance of CME Soybean Futures
Joe Janzen1
(jjanzen@ksu.edu) – K‐State Department of Agricultural Economics
December 2018
In agricultural commodity markets, convergence occurs when the commodity’s futures price equals the
cash or spot price at a delivery location and delivery period specified by the commodity exchange.
Perfect convergence occurs when the basis (equal to the cash price minus futures price) equals zero.
Not long ago, wheat futures markets had convergence failures where the cash price was well below
the futures price during the delivery period. Farmers were understandably frustrated by this weakness
in basis.
Following the harvest of the 2018 soybean crop, soybean farmers face similarly poor basis. As of mid‐
November 2018, cash soybean prices in Kansas were around $1.00/bu below nearby futures and basis
was $0.10‐0.40/bu lower than previous years. While this weak basis, it is an improvement over basis
conditions seen earlier in fall 2018. Low cash prices are in large part the result of weak export demand
related to the current trade conflict with China and relatively large US soybean crop. These two factors
led the USDA to forecast US soybean ending stocks to more than double in the 2018/19 marketing year
relative to 2017/18.
Why would non‐convergence occur?
Basis non‐convergence has tended to occur when supplies are abundant and farmers, merchants, and
other commodity trading firms would rather store grain than sell. Since large supplies and abundant
stocks currently exist in the US soybean market, we should be concerned about the potential for non‐
convergence in the soybean futures market. Weak basis in non‐delivery locations like Kansas may be
driven in part by poor convergence performance at delivery locations.
As we have learned from the wheat market, non‐convergence occurs because of the incentive to hold
the commodity in the form of shipping certificates rather than physical grain. These shipping
certificates are issued as part of the futures delivery process and charge certificate holders a fixed
storage ‘premium’ as long as they are held. (In the soybean futures market, the premium is
approximately $0.05/bu/month.) These fixed storage premiums can bid up the futures price relative to
the cash price under certain conditions.
1 Joseph Janzen is an assistant professor in the Department of Agricultural Economics, Kansas State University. His research
interests include grain marketing, commodity futures markets, and agricultural finance.
Kansas State University Department Of Agricultural Economics Extension Publication …