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April 1, 2010
Pork Quality Grading System and Wholesale Pork Price Reporting
Conversely, the propor-
tions of other primal cuts (loins, butts … mandatory reporting, several
other considerations are worth … reporting system in place is meeting
its intended goals. This …
April 1, 2010
Conversely, the propor-
tions of other primal cuts (loins, butts … mandatory reporting, several
other considerations are worth … reporting system in place is meeting
its intended goals. This …
April 13, 2020
Ag Law Issues
estates, corporations, and other noncorporate tax filers … are not prescribed do
not meet the definition. Likewise … respect to menstruation or other genital-tract secretions …
April 13, 2020
Ag Law Issues
distinction between hemp and other cannabis plants. They were … manner available to farmers of other commodities. Indeed, the … than is
the production of other crops due to the effect of …
May 23, 2024
Ag Law Issues
veterinary inspection or other documentation.
Note: The … official identification and that meet this
requirement with eartags … and accompanying ICVIs and other paper
documentation work …
April 2, 2025
Recent Videos
from China, Mexico, Canada & others **could** lead to retaliatory … globally
Farm Machinery & other costs– due to higher steel … to higher steel, aluminum, other input $’s
Grain Export …
October 16, 2020
Animal ID & Traceability
14.2%
Seedstock 17 5.4%
Other 10 3.2%
Total 317 100.0 … Carcass basis 12 3.8%
Other 16 5.1%
Total 316 100.0 … buyer orally 100 47.8%
Other 11 5.3%
Total 209 100.0 …
June 6, 2014
Grain Market Outlook
of “new crop”
2014/15 marketing year supply‐demand and market forecasts for U.S. and World corn, grain sorghum and
other coarse grains. The USDA … ng stocks, and lower prices versus a year earlier.
A number of key grain sorghum and other feedgrain market factors in “new crop” MY 2014/15 are still
unknown, including a) final 2014 U.S. grain sorghum and corn planted acreage, b) uncertainty regarding 2014
and 2015 U.S. and World coarse grain production prospects should an El Nino‐related weather pattern occur in
mid‐to‐late 2014 as is now forecast, and c) the potential impact of ongoing and escalating geopolitical conflicts
in the Black Sea Region between major World coarse grain and wheat exporters Russia and the Ukraine.
USDA Grain Sorghum Market Forecast: The USDA projected that 2014 U.S. grain sorghum production would
be 360 million bushels (mb) – down 29 mb from 389 mb in 2013, but up from 247 mb in 2012. This forecast
was based on lower projected U.S. planted and harvested acreage of 6.681 and 5.6 million acres (ma),
respectively, and U.S. grain sorghum yields of 64.3 bu/ac – up from 59.6 and 49.8 bu/ac the previous two
years. The USDA made its initial forecasts of “new crop” MY 2014/15 total supplies (379 mb – down 25 mb
versus a year ago), exports (160 mb – down 20 mb), FSI (105 mb – up 10 mb), feed and residual (90 mb – down
20 mb), and total use (355 mb – down 30 mb), leading to projected ending stocks of 24 mb – up from 19 mb
last year. Projected % ending stocks‐to‐use of 6.76% in “new crop” MY 2014/15 are up from 4.93% for
“current” MY 2013/14. The USDA projected U.S. average grain sorghum prices for “new crop” MY 2014/15 of
$3.60‐$4.30 bu/ac (midpoint = $3.95), which is down 37.6% from the record high of $6.33 in MY 2012/13.
KSU Grain Sorghum Market Forecast: KSU projections of 2013 U.S. grain sorghum production and “new crop”
MY 2014/15 supply‐demand and price scenarios are: a) “Low Production” Scenario: 20% prob. of a 294 mb U.S.
sorghum crop, 5.0% S/U, and prices of $5.25‐$6.25 /bu; b) “Expected Production” Scenario: 60% prob. a 364
mb U.S. grain sorghum crop (equal to USDA), 7.0% S/U, and prices of $3.65‐$4.65 /bu; and c) “High
Production” Scenario: 20% prob. of a 442 mb U.S. sorghum crop, 12.2% S/U, and prices of $3.40‐$3.90 /bu.
World Coarse Grains: Forecast global coarse grain total supplies of 1,461 mmt in “new crop” MY 2014/15 are
up from 1,439 mmt in “current” MY 2013/14, and 1,307 mmt in MY 2012/13. Projected World coarse grain
ending stocks of 210.5 mmt (16.8% S/U) in “new crop” MY 2014/15 are up from 203.8 mmt (16.5% S/U) in
“current” MY 2013/14, and 169.5 mmt (14.9% S/U) in MY 2012/13.
Market Perspective: Price prospects for U.S. grain sorghum are still driven largely by expectations in the U.S.
corn market for “new crop” MY 2014/15, where historically large U.S. corn production and ending stocks are
forecast, along with a sizable reduction in U.S. corn and grain sorghum prices from “current” MY 2013/14.
Prospects for U.S. grain sorghum production in 2014 may have been helped measurably by recent substantial
rainfall in the U.S. central (Kansas) and southern (Oklahoma and Texas) plains, alleviating drought conditions.
Page | 2
I. U.S. Grain Sorghum Market Situation and Outlook
I‐A. May 2014 USDA Reports & Projections for “New Crop” MY 2014/15
On May 9, 2014 the USDA World Agricultural Outlook Board (WAOB) released its May 2014 World
Agricultural Supply and Demand Estimates (WASDE) report – containing U.S. and World corn supply‐demand
and price projections for both the “current” 2013/14 marketing year as well as for “new crop” 2014/15. The
“new crop” 2014 U.S. grain sorghum production projections are based on 2014 U.S. grain sorghum planted
acreage projections from the survey based USDA March 31st Prospective Plantings Report, with estimates of
harvested acreage and yields based on World Agricultural Outlook Board calculations and estimates.
The first comprehensive survey‐based USDA estimate of 2014 U.S. grain sorghum production will be
provided in the August 12, 2014 USDA National Agricultural Statistics Service (NASS) Crop Production Report.
In this The “current” 2013/14 marketing year will end on May 31, 2014, while the “new crop” 2014/15 U.S.
wheat marketing year will last from June 1, 2014 through May 31, 2015.
I‐B. Corn Futures Trends Since the May 9th USDA Reports
The “current crop” JULY 2014 corn futures market contract has fallen sharply since the May 9th USDA
reports. On the day of the report – Friday, May 9th – Chicago Board of Trade (CBOT) JULY 2014 corn futures
prices opened at $5.15 ½ per bushel, and traded as high as $5.22 ¾ and as low as $5.05 ¾ during the session,
before settling at $5.07 ½ – down $0.09 for the day (Figure 1). The USDA report findings were publicly
released at approximately mid‐session, i.e., 12:00 noon eastern time (11:00 a.m. central) that day. Since then
JULY 2014 corn futures prices have traded lower – ranging from a high of $5.06 ¼ on Monday, May 12th to a
low of $4.56 on Tuesday, June 3rd before closing at $4.58 ¼ on the same day.
July 2014 and December 2014 CME Corn Futures Price Charts (electronic trade) …
December 29, 2017
Grain Market Outlook
exports, 2.000 bb domestic crush, 140 mb seed & residual use, 4.536 bb total use, 222
mb ending stocks, 4.89% Stocks/Use, & $11.50 /bu U.S. soybean average price.
KSU Scenario 2) “Lower U.S. Soybean Exports” Scenario (10% probability) assumes for “new crop” MY
2017/18 that the following outcome occurs. This scenario assumes that there were 90.281 ma planted,
99.18% harvested‐to‐planted, 89.545 ma harvested, 49.5 bu/ac average yield, 4.432 bb production, 4.758 bb
total supplies, 2.100 bb exports, 1.900 bb domestic crush, 140 mb seed & residual use, 4.136 bb total use, 622
mb ending stocks, 15.04% Stocks/Use, & $7.50 /bu U.S. soybean average price.
E. Perspectives on World Soybean Market Trends
Since 2014, World soybean market prices have been declining in response to a developing “large crop – low
price” supply‐demand regime, caused by consecutive record World soybean production years for 2014 through
2017, with large crops regularly occurring in South America and the United States. Strong demand for soybean
imports from China, Japan, and other Asian countries have supported World soybean prices.
Longer term, from MY 2007/08 to “new crop” MY 2017/18, the USDA forecasts a strong upward trend in
World soybean production (up 5.9% annually) which will have “out‐paced” the increase in World soybean use
(up 5.0% per year) if it holds true. As long as growth in World soybean production continues to outpace World
soybean usage, then World soybean prices will continue at their current “moderate” levels.
A key World soybean market issue for the first half of 2018 will be to learn or discover if weather or disease
problems in South America end up driving southern hemisphere soybean production low enough to alter the
existing “large supply – buyer’s market” situation that now exists. Unless or until production problems in the
U.S. or South America – World soybean price prospects seem destined to remain limited.
…
May 28, 2010
Energy
and E-15 is projected to meet 61% and 75%,
respectively … adopted with no changes in other selected U.S. corn
supply-use … corn, oilseeds, and many other crops remain at historically …