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February 4, 2016
Land Use Value Research, Land Rental
Rates
wildlife, and provides surface water
to streams. The 2012 Census … consultants, lenders, and policy makers.
Pasture Lease … landlords pay more of the water supply costs, and fertilizing …
November 29, 2021
Ag Law Issues
erosion and improve soil and water resources. The USDA, in … Agricultural Economics | 342 Waters Hall, Manhattan, KS 66506-4011 … formalize that change in policy. Next, the
Congress provided …
June 24, 2019
Grain Market Outlook
The U.S. Corn Market Situation on June 24, 2019
The serious and prolonged excess moisture problems during the 2019 spring planting season for
U.S. corn have led to a sharp reduction in 2019 U.S. corn production prospects. In some areas of the
U.S. Corn Belt the historic extremely moist field condition situation that began during April‐May has
persisted through June 2019 – beyond crop insurance full coverage deadlines and the physiological
limits of a normal annual planting / growing season.
The strong likelihood of a major U.S. corn production shortfall in year 2019 has brought about the
strong likelihood of a classic “short crop” scenario occurring for U.S. corn in the “new crop” 2019/20
marketing year. The last major “short crop” marketing year for U.S. corn occurred seven (7) years ago
in year 2012 due to extreme summer heat and accompanying crop stress – rather than the over‐
abundance of rainfall with accompanying flooding and soggy fields that has occurred in Spring 2019.
In so many words, calendar year 2019 has already become a unique, “analog” year in terms of
how spring moisture has delayed or prevented U.S. corn plantings. What remains to be seen are that
actual, physical “numbers” for planted and harvested U.S. corn acres, the rate of crop development
Page | 3
and eventual degree of physiological maturity in the fall of 2019, and the final size and quality of the
2019 U.S. corn crop going into “new crop” MY 2019/20.
These U.S. corn supply concerns have driven corn futures sharply higher in recent weeks as the
corn market anticipates how sharply reduced 2019 U.S. corn production would lead to much tighter
U. S. corn supply‐demand balances and the need for price rationing of usage in “new crop” MY
2019/20 (beginning on September 1, 2019).
For example, “old crop” JULY 2019 Corn futures prices have increased from a low of $3.43 per
bushel on May 13th to a high of $4.38 on May 29th, and then up to a high of $4.64 ¼ on June 17th,
before closing lower at $4.47 on June 24th. Similarly, “new crop” DEC 2019 Corn futures prices have
increased from a low $3.63 ¾ per bushel on May 13th to a high of $4.54 on May 29th, and then
likewise up to a high of $4.73 on June 17th, before closing lower at $4.57 ¼ on June 24th . (Figures 1 &
2a‐b). With this rally in corn futures, managed money (specs) traders who had been holding record
short or bearish positions during April through mid‐May, through mid‐June have bought back much
(but not all) of their bearish short futures positions and instead build up the long or buy side of their
speculative trade portfolios (Figures 3a‐b‐c‐d).
The U.S. government is also planning to provide a second round of Market Facilitation Payments
(MFPs) to U.S. crop producers, with the stipulation that crops have to be actually planted in year
2019 to collect these MFP funds. That actual crop acres had to be planted for farmers to receive this
second round of MFP payments has been the policy position of the USDA Far …
April 1, 2022
Land Use Value Research, Land Rental
Rates
predominant source of irrigation water was from a well (Table 2 … units used a well as the water source. Wells were the
predominant … units used a river as the water source. Low pressure pivot …
July 18, 2012
Energy
6
Policies Influence the Growth of Biofuels … Depend on Crude Oil Prices and Policy Decisions .........................................................................40
Climate … as the markets reacted to policies that were intended to in-
crease …
July 18, 2012
Cash Prices & Marketing Strategies
6
Policies Influence the Growth of Biofuels … Depend on Crude Oil Prices and Policy Decisions .........................................................................40
Climate … as the markets reacted to policies that were intended to in-
crease …
April 5, 2023
Recent Videos
fever
Fall army worm
Water and soil pollution
Flooding
https://www.uscc.gov/sites/default/files/2022-05/Chinas_Interests_in_U.S._Agriculture.pdf
Food … improve domestic land
Policies Seek Self-Sufficiency
… State
https://www.fsa.usda.gov/programs-and-services/economic-and-policy-analysis/afida/index
Foreign …
October 1, 2015
USDA METSS Project
(10)
The Balassa‐Samuelson effect provides evidence that this is a common occurrence in explaining
differential economic growth. It argues that economic growth is associated more with increased
productivity in traded goods. When liberalization policies are being pursued, it is expected that the
price of non‐traded goods will rise relative to traded goods, leading to a rapid changes in the real
exchange rate. Indeed, it is the proportion of non‐traded goods in the basket of good consumed in
Ghana that allows the poverty line in Ghana to be so dramatically different from that in the U.S., say.
Effect of Exchange Rate on Poverty
From Equation (10), we noted that the larger the proportion of non‐traded goods in the basket of
consumed goods, the lower the rate of economic growth even when productivity in those non‐traded
goods increase. This is merely a result of the lack of arbitrage opportunities for those goods to exploit
the productivity gains.
Let us assess the potential effect of the exchange rate on the poverty level using consumption
expenditures given the foregoing analysis and using data collected from the study area in 2012 and are
described in Zereyesus et al. (2014).1 Consumption expenditures are defined to encompass
expenditures on four product categories: food; housing; durables; and non‐durables. Durables are
products lasting longer than a year, such as radios, bicycles and clothing. Non‐durables are defined by
1 …