FAPRI
One-fifth of farmers have yet to make ARC/PLC choice
More than one-fifrth of farmers have yet to tell the USDA which crop-subsidy plan they want under the 2014 farm law, the insurance-like Agricultural Risk Coverage or the traditionally styled Price Loss Coverage. The deadline for action is Tuesday. Some 77 percent of grain and oilseed growers made the ARC/PLC selection by March 19, says the USDA. "We expect these numbers to continue to increase significantly by the end of the month," said Val Dolcini, head of the Farm Service Agency, during a House Agriculture subcommittee hearing.
Farmer survey points to record soy plantings, sorghum surge
U.S. growers intend to plant a record amount of land with soybeans this spring, and to boost the acres of sorghum, now in high demand for export to China, according to Farm Futures magazine's survey of 1,297 growers in 41 states during the first half of March. Its estimates of 87.25 million acres of soybeans and 8.4 million acres of sorghum are higher from forecasts by Kansas State University and the think tank FAPRI.
Deal with Mexico is cushion against sugar subsidy costs
The agreement by Mexico to limit its shipments of sugar to the U.S. market will reduce the chances of sugar program costs, says the think tank Food and Agricultural Policy Research Institute.
Most expensive year for 2014 farm law will be this one
The government will pay $6.5 billion in crop subsidies for this year's grain and soybean crops because of falling commodity prices, according to an estimate by the Food and Agricultural Policy Research Institute, a think tank at the University of Missouri. The outlays would be the largest in seven years, said FAPRI, and would be well above its forecast average annual cost of $5 billion. "Payments under 2014 farm bill programs increase when crop prices fall," said FAPRI.
Near-record soybean harvest may follow last year’s top crop
U.S. soybean farmers could reap a near-record 3.81 billion bushels of soybeans this year, adding to an ample stockpile and pulling down prices, says economist Darrel Good of U-Illnois.
US corn crop down 7 percent this year, KSU estimates
After back-to-back record crops, U.S. corn production will drop to 13.2 billion bushels this year, says an estimate by Kansas State University. That would be down 7 percent from, and 1 billion bushels smaller than, the 2014 crop but still the third-largest on record. KSU forecasts corn plantings will shrink by 2 percent and yields by 5 percent. The corn yield was a record 171 bushels an acre in 2014. Low commodity prices make soybeans more attractive to plant this year.
US corn crop to shrink by 10 percent in 2015
After harvesting two record crops in a row, U.S. farmers will cut back on corn plantings in the spring and produce a comparatively small 13.073 billion bushel-crop, says agricultural economist Dan O'Brien of Kansas State University.
Soybean prices below $10 for three years running
Soybeans will sell for less than $10 a bushel, on average, at the farm gate for three years in a row, projected a University of Missouri think tank, because another large crop is likely to follow this year's record-setting harvest.
Glum price outlook as farmers face crop subsidy decisions
Farmers will sell this year's record-setting corn and soybean crops for the lowest season-average price in eight years, the government forecast in a new look at crop output and usage. USDA says the corn and soybean crops are marginally larger than it estimated a month ago. Supplies will be the largest in years, holding down prices for the year ahead.
Record-high beef and pork prices for one more year
Grocery shoppers will pay record-level prices for beef and pork through 2015, says a University of Missouri think tank.
Farmers will shy away from new revenue subsidy
U.S. farmers will stick with traditional crop subsidies based on crop prices and shy away from the crop revenue subsidy created in the new farm law, says the Congressional Budget Office.