Illinois corn and soybean yields since the 2012 drought have been consistently good and above the trend yield.
Supplies and transportation were costly major roadblocks for the agriculture input industry and farmers in 2022 and highlight the connection between the global market and farm gate.
Agriculture continues to make headlines. Here is some of the latest farm industry news.
Historically high corn and soybean prices don’t tend to last for a long period of time.
The U.S. economy still has considerable momentum and is not currently on the verge of recession. However, economists have never been more pessimistic and there are very legitimate reasons for concern.
Penciling in the possibilities for the 2023-2024 corn and soybean marketing year found an uptick in supplies and slight downturn in prices.
The current crop marketing year price trends have been unusual compared to past trends. “We’ve been through this old crop/new crop inverse for the entire year with 2022 old crop prices remaining above 2023 new crop prices since Jan. 1, 2022,” said Joe Janzen.
Volatility in the agricultural economy is expected to continue into 2023, according to Brent Gloy, economist at Agriculture Economic Insights. Gloy was a featured speaker during a webinar hosted by Halderman Real Estate.
Tighter domestic and global corn supplies have resulted in a new trading range for the time being.
Indiana’s state gasoline taxes will drop by about 3 cents per gallon next month to their lowest level since April as pump prices have declined from record peaks six months ago.
Indiana Farm Bureau members continue to step up and make sure their voices are heard by making phone calls and sending texts to lawmakers, beamed INFB President Randy Kron at the organization’s annual state convention.
U.S. hay stocks decreased in 2022. “We’re not at the record lows we saw in 2007, 2013 or 2019, but we’re getting close to that level,” said Mike Rankin, managing editor of Hay & Forage Grower. “There is not as much hay in the barn as we had from 2015 to 2017.”
If there is a concept that we have talked about more than any other over the last 22 years, it is the idea that crop agriculture experiences long periods of low prices punctuated by short periods of high prices.
Are we headed back to the ‘80s, the time of sky-high interest rates and farm bankruptcies? Some massive catastrophic events would have to happen first — and Pat Karst doesn’t see any or all of those happening anytime soon.
The supply of diesel fuel has become uncomfortably tight this fall, drumming up concerns about future availability. The United States started the month with about a 25-day supply of diesel in storage.