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U.S. Export Sales Report (12-19-24)
After getting quite a jump on the marketing year, export sales have been fairly disappointing over the last month. Allendale commodity broker Greg McBride gave an update on the latest numbers from the USDA. As for the flash sales, McBride said they’ve been mostly routine. Even though the export sales numbers are still good as a whole, McBride said it’s concerning to see corn drop down already since the advantage window against Brazil will be closing soon. The team at Allendale can be reached...
Income prospects differ for livestock vs. crop producers
The farm income bottom line is vastly different this year for livestock producers compared to row crop farmers. Spiro Stefanou, Administrator of USDA's Economic Research Service, says that USDA’s farm income forecast for this year shows crop receipts down almost...
Farm sector profits forecast to fall in 2024
Net farm income, a broad measure of profits, is forecast at $149.7 billion in calendar year 2024, down by $6 billion, or 4.1 percent, relative to 2023. Inflation-adjusted farm income is forecast to drop by $9.5 billion, or 6.3 percent. Despite the predicted decline,...
Saving money on inputs doesn’t mean slash and burn
There are many conversations about how farms will save money in 2025. Producers are looking for ways to trim the budget, but cutting corners is a slippery slope. If you slash your inputs too much, your crops could be in serious danger. This year we heard many stories...
Create a financial plan to help navigate tough economic conditions
The USDA’s December Farm Income Report showed only a slight change from September’s numbers, but those revised estimates still show agriculture taking a big financial hit this year. However, it’s still possible to lock in some profits for your grain despite some tough...
Will the next administration bring relief to ag trade?
With agricultural import numbers outweighing ag exports over the past couple of years, industry groups are questioning whether or not the new administration will bring relief for ag trade. Rob Larew, president of the National Farmers Union, said the trade imbalance...
Secretary Naig announces availability of Choose Iowa value-added grants
Iowa Secretary of Agriculture Mike Naig announced that the Iowa Department of Agriculture and Land Stewardship is once again offering Choose Iowa Value-Added Grants to expand the availability of Iowa grown, Iowa raised, and Iowa made foods, beverages, and other...
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CLAAS innovating its forage technology to celebrate 50 years
This year marks 50 years of the CLAAS JAGUAR forage harvester, and they have spent the year celebrating by continuing to innovate. Next year will bring even more improvements, with an earlage adapter and an enhanced chopping drum. Daryl Theis, head of sales and...
How long will this time of low crop profit margins continue?
USDA is projecting that 2024 will be the second straight year of falling crop prices and slim profits. How long should farmers expect this trend to continue? USDA Chief economist Seth Meyer says that to break out of this negative pattern, the United States ag markets...
John Deere announces more Iowa layoffs
John Deere has another round of layoffs scheduled at its plant in Iowa. The facility in Waterloo Works, Iowa, is the company’s largest plant. The state’s Worker Adjustment and Retraining Notification, or WARN, website says the company will lay off more than 100...
House hearing focuses on improper labeling of dairy products
The Food and Drug Administration performs the critical task of providing consumers with clear nutritional information by enforcing labeling standards, but there is still work to be done on the misuse of terms on labels. Wisconsin Senator Tammy Baldwin said she’s...
Settling into a long-term period of low commodity prices
It’s no surprise to you that market prices for grains are low. They’re nowhere near what we enjoyed a few years ago. Many factors are driving this situation, but understanding them doesn’t necessarily make it any easier. The main question I Have been hearing farmers...