Tag Archives: corn

The National Corn Growers Association’s Corn Board has elected Kevin Ross of Iowa to become the organization’s first vice president for the next fiscal year, which begins Oct. 1.

 

“I am honored my fellow Corn Board volunteers placed their trust in me and granted me the distinct privilege of becoming a part of the organization’s leadership,” said Ross. “Today’s American corn farmers face an ever-changing landscape with numerous challenges, as well as opportunities, on the horizon. It is imperative that we work with our partners in government, in industry and in the public to grow markets at home and abroad. I sincerely look forward to working with our grower leadership to find innovative, impactful ways to grow the markets and the future for U.S. corn farmers.”

 

A sixth-generation family farmer, Kevin and his wife, Sara, grow corn, soybeans, alfalfa and run a 140-head cow/calf operation. Growing corn almost exclusively using no-till methods, they hope to someday pass the farm on to their four young sons, Hudson, Axten, Carver and Hollis.

 

On the national level, Ross serves as Corn Board liaison to the Feed, Food and Industrial Action Team and acts as the liaison to the National Cattleman’s Beef Association.

 

Previously, he has served as board liaison to the Grower Services Action Team, the Production and Stewardship Action Team, the Trade Policy and Biotechnology Action Team, as a member of NCGA’s Finance Committee and as 2017 Co-Chair of the Commodity Classic Joint Venture Committee. Prior to his term on the Corn Board, Ross served on NCGA’s Ethanol Committee, Public Policy Action Team and as a member of the CornPAC.

 

“NCGA has built a strong history of success over the years. The farmers who have stepped forward and volunteered to lead the organization have been the driving force behind these achievements. We, as a Corn Board, believe that Kevin will continue this fine tradition,” said NCGA President Kevin Skunes. “Our Corn Board appreciates the keen insight he brings to our discussions and the dedication he continually demonstrates to benefit all farmers. We are confident that he will continue working tirelessly on their behalf.”

 

On Oct. 1, Skunes, of North Dakota, becomes chairman and the current first vice president, Lynn Chrisp of Nebraska, becomes NCGA president. In October 2019, Chrisp becomes chairman and Ross becomes president.

Regardless whether you’re a Republican, Democrat, Libertarian or a card-carrying Mugwump, I think we can all agree that President Donald Trump is a man not afraid to change his mind. Of course, that’s not to say that everyone would characterize this unique flexibility in the same way.

What strikes some as being open-minded, hits others as being empty-headed. What speaks to some as strategic deal making, warns others of random cluelessness. What some admire as bold examples of leadership, others fear as reckless and counterproductive displays of power.

Furthermore, many members of the citizen jury flip their verdicts from morning tweet to morning tweet. Our wonderful country can often be a tough bar to manage with the head bouncer facing intractable problems on a daily basis. Reassessments can be good or bad, absolutely necessary or dangerous second-guessing.

No less a thinker than Ralph Waldo Emerson once said: “A foolish consistency is the hobgoblin of little minds.” Whatever else fans and critics might think of the commander-in-chief’s gray matter, it is clearly not haunted by ghosts of uniformity and steadfastness.

But while I’m glad President Trump is not demonically possessed by an irrational need to strictly “stay the course” for its own sake, I am increasingly troubled by the reckless way he likes to shoot from the hip in matters of global trade.

The seeds of mistrust now being sown among many of our major trading partners makes me wonder if the White House truly understands the evolutionary nature of the international marketplace, a networking process that slowly improves over time as “non-zero” relationships (i.e., net import and export sums that benefit both sides of a trade) proliferate and compound.

But if this criticism is too harsh on the Trump administration, I feel more confident in saying that the president and his entire motley crew (given the extremely short truce in the trade war with China declared just last week, it seems clear that not every team member is rowing in the same direction) could benefit from a season or two of demanding fieldwork and farm management.

As far as I’m concerned, the great and abiding ethos of agricultural marketing has always been summarized by the pledge “my word is my bond.” Many may think this sounds quaint and unrealistic. But I still think it’s the fundamental nail that guarantees 95% or more of the country’s farm business.

That’s not to say that no one in the farming and ranching community ever bothers with lawyers and contracts. Of course, successful producers follow prudent business practices. And that’s not to say that all those who work the soil or sort cattle automatically turn into unimpeachable Eagle Scouts. Bad apples fall from rural and urban orchards alike.

Nevertheless, I would have no qualms testifying before Congress (or perhaps more to the point, chatting over drinks at Mar-a-Lago) about agriculture’s extraordinarily high commitment to honor and trust in matters of commerce. Maybe I’m hopelessly naive. But I’ve seen too many unhedged farmers dutifully deliver contracted corn dollars under the spot market and too many unhedged feedlot managers accept delivery on fall calves tens of dollars above the spot market to think otherwise.

Although waves of consolidation and concentration have certainly changed some of the dynamics of agricultural business over the decades, an amazing network of trust and cooperation still exists in the country. This network’s taproot is comprised of realities such as isolation, low population, piecemeal infrastructure, and scattered markets.

The magic of this necessary trust at first fostered the rising levels of trade required to feed and energize the continental United States. This same quality of trust was then increasingly married to hundreds of other trusting business partners all around the world to create global trade worth trillions and trillions of dollars.

Unfortunately, this long-tested alchemy of trust and trade, a proven elixir responsible for the creation of untold wealth through U.S. agriculture, as well as the nation as a whole, is being threatened by a president who believes that trade wars are good and easily won.

Can’t you just hear our trading partners say something like “Anyone so casually bellicose is not to be trusted.” And that’s exactly the point. Trust and trade go together like love and marriage. Once you become less than trustworthy, your sex appeal as a trading partner quickly goes south.

During less than 18 months in office, President Trump has reneged (or threatened to renege) on U.S. international pledges too numerous to count. Some of these decisions may have been well-reasoned. But the way the president and his team blow hot and cold (sometimes on the same day), is it any wonder that U.S. creditability seems to be approaching an all-time low.

Maybe if Trump had been raised in the wilds of western Nebraska or Kansas instead of cushy New York, he would have learned one of the woodshed’s most valuable lessons: “Say what you mean, and mean what you say.”

WASHINGTON (DTN) — One of the first looks at the 2018-19 crop production projects the U.S. corn crop at 14.04 billion bushels with an average yield of 174 bushels per acre.

The May World Agricultural Supply and Demand Estimates (WASDE) offers the first forecasts for crop production and ending stocks for the 2018-19 marketing year.

Soybean production is projected at 4.28 billion bushels with an average yield of 48.5 bushels an acre.

Crop Production: https://www.nass.usda.gov/…

World Agricultural Supply and Demand Estimates (WASDE): http://www.usda.gov/…

CORN

Production for 2018-19 is pegged at 14.04 billion bushels with ending stocks forecast at 1.682 billion bushels, down 500 million bushels from the 2017-18 crop.

Old-crop ending stocks for corn are unchanged from the April forecast at 2.18 billion bushels.

Brazil’s corn crop was pegged at 87 million metric tons, down 5 mmt from April’s projection.

SOYBEANS

USDA projects the 2018-19 soybean crop at 4.28 billion bushels, down 112 million bushels from the 2017-18 crop year. Soybean new-crop ending stocks are pegged at 415 million bushels.

Old-crop ending stocks are projected at 530 million bushels, down 20 million bushels from last month’s projection.

USDA bumped up Brazil’s soybean production to 117 million metric tons, up 2 mmt from the April report. Argentina’s production was dropped again to 39 mmt, down 1 mmt from April.

WHEAT

All winter wheat is projected at 1.19 billion bushels, down 6% from a year ago. The winter wheat yield is projected at 48.1 bushels per acre, down 2.1 bushels from last year.

Hard red winter wheat is projected at 647 million bushels, slightly above the pre-report average estimate. Hard red winter wheat production is forecast to be down 14% from last year’s crop. Soft red winter wheat is projected at 315 million bushels, up 8% from a year ago. White winter wheat is projected at 229 million bushels.

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Editor’s Note: Join DTN Analyst Todd Hultman at 12 p.m. CDT Thursday as he looks at USDA’s “initial” estimates for the 2018-2019 crops as well as changes to old-crop supply and demand tables. To register, visit https://dtn.webex.com/….

May Average High Low April 2016-17
Corn 2,182 2,178 2,208 2,132 2,182 2,293
Soybeans 530 541 565 490 550 302
Grain Sorghum 29 30 32 28 29 33
Wheat 1,070 1,067 1,090 941 1,064 1,181
2018-19 U.S. ENDING STOCKS (Million Bushels)
May Average High Low Outlook
Corn 1,682 1,631 1,907 1,467 2,272
Soybeans 415 549 715 336 460
Wheat 955 923 1,005 780 931
2018-19 U.S. PRODUCTION (Million Bushels)
May Average High Low Outlook 2017
Corn 14,040 14,091 14,604 13,921 14,390 14,604
Soybeans 4,280 4,311 4,430 4,248 4,320 4,392
2018-19 WINTER WHEAT PRODUCTION (Billion Bushels)
May Average High Low Outlook 2017-18
All Wheat 1,821 1,757 1,832 1,612 1,839 1,741
All Winter Wheat 1,192 1,180 1,304 1,062 NA 1,269
HRW 647 644 797 540 NA 750
SRW 315 306 330 218 NA 292
White 229 230 260 201 NA 227
2017-18 WORLD ENDING STOCKS (million metric tons)
May Avg. High Low April 2016-17
Corn 194.85 195.20 198.00 192.20 197.78 230.90
Soybeans 92.16 90.00 91.00 88.50 90.80 96.72
Wheat 270.46 271.30 273.40 268.50 271.22 254.60
2018-19 WORLD ENDING STOCKS (million metric tons)
May Avg. High Low
Corn 159.15 182.00 192.50 148.70
Soybeans 86.70 91.10 97.00 75.50
Wheat 264.33 267.70 278.70 260.00
WORLD PRODUCTION (Million Metric Tons) 2017-2018
May Avg. High Low April 2016-17
Corn
Brazil corn 87.0 88.2 91.0 83.9 92.0 98.5
Argentina corn 33.0 32.1 33.0 31.0 33.0 41.0
Soybeans
Brazil soybeans 117.0 116.6 119.0 115.0 115.0 114.1
Argentina soybeans 39.0 38.6 40.0 37.0 40.0 57.8
2017-18 2016-17
Wheat May Apr May Apr
European Union 151.58 151.60 145.37 145.25
FSU – 12 142.20 142.77 130.09 130.47