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Posts Tagged ‘corn’
Sunday, November 20th, 2011
According to U.S. Department of Agriculture figures, the recent increase in crop and land prices is largely due to increased ethanol demand. A part of American energy concerns for over a decade, in recent years, ethanol production has skyrocketed. In the process, it has drastically altered crop production and agricultural demand.
In 2007, Congress mandated the production of 15 billion gallons of ethanol by 2015, with an ultimate goal of energy independence. While the country has not yet reached its target goal, ethanol production has vastly increased.
Last decade, ethanol production accounted for about 10 percent of American fuel consumption. By 2010, ethanol increased to about 40 percent of fuel consumption. The increased demand has increased the value of American corn, simultaneously driving up the value of corn producing farmland.
In addition to ethanol production, increased demand from developing nations like China and India, who are importing increasing amounts of American grains, has further pushed up the price of corn, leading to an overall increase in food prices.
However, some farmers and economists are worried that the boom could end soon. If the price of ethanol goes down it could lead to a wider price collapse that could devastate farmers across the Corn Belt. The ultimate test could come during the upcoming congressional budget fight. A sharp decrease in ethanol subsidies or congressional ethanol mandates could lead to a dip in corn prices and a drop in land value.
To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmplusfinancial.com.
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Written by: Justin Ellison / Farm Plus Staff Writer
Tags: corn, ehtanol, farm subsidies, usda
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Wednesday, August 11th, 2010
The United States Department of Agriculture Crop Progress Report said that the U.S. corn crop is near completely emerged and looking well.
According to the report 98 percent of the U.S. corn crop is emerged which is four percent more than last year and one percent more than the five-year average. The biggest drop in corn rates was in Ohio (a five percent drop) and Nebraska (a four percent drop). Overall the good/excellent rating is at 76 percent for the quality of the corn.
While corn is emerging above expectations, soy beans are also looking good. 91 percent of the crop has been planted which is six percent higher than last year and a percent higher than the five-year average. The crop is rated at 73 percent for good/excellent quality. The states furthest behind in soy bean planting is Kansas, Indiana, Ohio and Missouri according to the report.
Wheat crops are also looking good with a 86 percent good/excellent quality. 97 percent of the crop has emerged which is six percent more than last year and one percent less than the five-year average.
Experts believe that overall the report is in favor of wheat crops despite all numbers showing positive situations.
In the market for a farm loan? Contact Farm Plus today for low-rate farm loans. Call 866-929-5585 or visit us online for more information.
Tags: corn, crops, usda
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Thursday, May 27th, 2010
Exports are one of the most important sources of income for farmers in the United States. As crop production increases across the world, exports have been decreasing and putting a strain on the agriculture industry. However, the Chicago Trade Board reported on April 29 that China is looking to increase imports.
Currently China is the second-largest corn producing country in the world. China purchased 115,000 metric tons of corn from the United States so far and more sales are expected in the near future. This is the largest purchase since 2001 according to the United States Department of Agriculture.
Corn production in China is expected to drop due to cold weather and excessive rain pushing behind the planting schedule.
According to business week corn for July delivery increased 0.8 percent up to $3.67 a bushel on the Chicago Board of Trade at 1:14 p.m. in London on April 28. Soybeans and wheat crops have also increased on the board for July deliveries.
Federal Reserve stated interest rates likely to rise. Refinance your farm loan before rates go up. Call a representative by dialing 866-929-5585 or visit us online.
Tags: china, corn, imports
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Friday, May 21st, 2010
The United States Department of Agriculture (USDA) reported that corn, wheat and cotton crops are ahead of schedule for this planting season.
According to reports obtain from farmers across the country, 50 percent of the corn crops are seeded compared to the 19 percent in early April. On average 22 percent of corn crops are planted at the end of April annually. Seven percent of the plants have already emerged from the ground as well. The numbers show the fastest pace of crop planted on record.
Sorghum is also ahead of schedule with 25 percent of the seeding complete compared to early April’s 23 percent. Oats is 75 percent compared to the 60 percent annual average as well.
Cotton growers are ahead of the expected schedule with 16 percent of crops planted, although this is below the average 18 percent.
On average spring wheat producers have 27 percent of the seeding complete, but so far this year 43 percent is planted.
Wheat, cotton and corn are some of the biggest crops in the country. Corn crops brought in $48.6 billion in 2009, the largest crop of the 2009 harvest.
Looking to refinance your farm loan before inflation hits? Farm Loan interest rates starting at 2.99% and terms up to 25 years. See our rate sheet or call 866-929-5585 to speak with a representative
Tags: corn, usda
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Thursday, February 25th, 2010
Soybean and corn producers watched as high prices took a quick dive to the deep end.
At the beginning of January 2010 producers were receiving an impressive $4.28 per bushel of corn and $10.68 for soybeans. However, the last day of January the Chicago Board of Trade reported a large dip in numbers. Corn fell to $3.57 a bushel and soybeans were at $9.14.
Producers who have these crops in storage can expect to wait until summer for prices to increase.
Not everyone is suffering from the dip. Livestock producers can breathe a sigh of relief because this means that feed prices have dropped.
Farm loan rates starting at 2.99%. Lock in before farm loan rates rise. Contact Farm Plus by clicking here or calling toll free 866-929-5585.
Tags: commodities, corn, soybeans
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Friday, August 28th, 2009
A new opportunity has arose for corn farmers. Cobs, the part left behind after harvest, are always planted back into the ground to add nutrients to the soil and make for a better harvest.
However, companies from South Dakota and California are building two plants in Iowa. One plant will turn the material into ethanol and the other will turn cobs into fertilizer.
The plants are expected to cost over $200 million. Farmers can sell the cobs to these plants to make extra profit off their harvest.
In the current economic system this news is exciting to many farmers.
“We’re excited about it,” corn farmer Jim Boyer told the Associated Press. “there’s an opportunity for another profit to stream off our farm.”
The projects could generate over $10 million a year for local farmers. The plants should be completed by 2011 and will process 130,000 tons of cobs per year. Farmers can expect $50 per ton of cobs.
Interested in a low-rate farm loan? Contact Farm Plus today by calling 866-929-5585 or visit online for more information about our low-rate farm loans.
Tags: california, corn, iowa, south dakota
Posted in General, Iowa farm loans | No Comments »
Tuesday, April 14th, 2009
The U.S. Department of Agriculture released its annual Prospective Plantings report on March 31. The report indicates that corn acreage will be down 1 percent in comparison to 2008 while soybean acreage will slightly increase.
Minnesota growers are estimated to plant 7.6 million acres of corn in 2009, down from 7.7 million. Iowa growers will plant 13.2 million, down from 13.3 million.
Overall it will be the third largest year of corn acreage across the country. The plan is 85 million acres of corn for all purposes, and only in 1949, 2007 and 2008 did farmers plant more than that.
The decrease comes after the demand for ethanol and livestock industries has lessened and there is less need for corn to export overseas.
The lack of exports is blamed on the falling value of the dollar. The National Corn Growers Association wants to find ways to increase demand through ethanol and the livestock industries.
Although corn production is expected to be down, soybean production will increase. In Iowa 9.85 million acres of soybeans will be planted when only 9.75 million were planted last year. Minnesotan producers will produce less soybeans then last year, only 7.0 million acres in 2009. Overall soybean production is expected to hit 81 million acres, slightly more than last year.
If you’re seeking a farm loan for a purchase, refinance, or expansion, Farm Plus Fiancial offers farm loans with historically low interest rates and fixed terms up to 30 years. Call 866-929-5585 or visit online for more information regarding farm loans.
Tags: corn, usda
Posted in General, Iowa farm loans, Minnesota Farm Loans | No Comments »
Thursday, March 19th, 2009
Secretary of Agriculture Tom Vilsack is endorsing an increase in the ethanol blend rate to 15 percent.
Vilsack said, “We can move fairly quickly to move that rate up from 10 percent to maybe 12 or 13 percent in the interim and then take an even further jump to 15 percent or even 20 percent over the course of the next couple of years.”
On Friday the ethanol industry officially petitioned the Environmental Protection Agency to raise the amount. 10 Midwestern states’ directors (including South Dakota, Iowa, Nebraska, Wisconsin, North Dakota, Kansas, Minnesota, Michigan, Montana and Ohio) wrote to the EPA requesting the raise.
The letter read, “American ethanol production has nearly reached 10 percent saturation. We must move to a base blend of 15 or 20 percent in 2009 in order to continue growing this vital industry. By working together to promote domestic productions and improve market access, we can continue o deliver a clean, renewable fuel that has a positive impact on our domestic economy.”
The increase will not only help lower the nation’s dependency on oil, but also calls for an increase in crops.
If you are interested in purchasing farmland to grow corn for ethanol or any other agricultural purpose, contact Farm Plus today. Farm loans with low rates are currently available. Call 866-929-5585 or visit online for more information.
Tags: corn, ethanol, vilsack
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Tuesday, March 10th, 2009
Iowa Corn Growers Association (ICGA) have announced ways to improve the three largest corn-using sectors in the state: livestock feeding, ethanol and trade.
Most discussions between members of The National Corn Growers Association in 2008 and 2009 so far were about resolutions. ICGA president-elect Don Elsbernd said, “It was a year for making incremental adjustments instead of major policy changes.”
An example given in a recent press release, according to Elsbernd, is the policy supporting testing and certification of conversion kits that could be retrofitted onto cars to allow them to burn E85. “We want to make it easier for more consumers to drive flex fuel vehicles and buy E85 at the gas pump.”
Another resolution, and an Iowa response to President Obama’s budget, is to cut off farm program direct payments based on the level of gross sales. Elbsbernd said that gross sales are not a reliable measure of farmers’ profitability in the current climate of volatile grain prices and extremely high input costs.
Elbsbernd is proud of the farm leadership behind the ICGA and NCGA. “We have a system where the ideas an Iowa grower brings to our summer roundtable meetings can advance to the national policy level and become the official position of the entire National Corn Growers Association- that means real grassroots leadership at work in the halls of Congress.”
If you are interested in purchasing agricultural land, loans are available today. Ranch loans and farm loans are available through Farm Plus Financial and rates are at historic lows. Farm Plus works with various government agencies to help people own a farm of their choice across the country. For more information on farm loans please contact a representative today. Contact one via telephone at 866-929-5585 or visit online.
Tags: corn, iowa, NCGA
Posted in Iowa farm loans | No Comments »
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