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The conflict between steady land values and tumbling commodity prices set the stage for difficult conversations as farmers and landowners enter cash rent negotiations for 2019.
The prospects of blockchain technology came up repeatedly this week at an Ag Technology and The Law conference put on this week in Arkansas. Gov. Asa Hutchinson said the ability to develop blockchain tools for major agribusinesses in the state could provide an advantage in promoting food safety for consumers and international trade.
In August 2017, USDA estimated a higher-than-expected corn yield and prices collapsed at the end of the year. USDA did the same thing last Friday, but so far, corn prices aren't collapsing.
Despite ethanol industry concerns about the loss of demand from small refinery exemptions to the Renewable Fuel Standard, a market expert told producers the loss may not be as severe as expected.
Gro Intelligence's yield models forecast an average corn yield of 190.73 bushels per acre in Minnesota, 175.83 bpa in Wisconsin and 182.33 bpa in Ohio. Soybean yields are expected to hit 49.98 bpa, 54.08 bpa and 53.80 bpa, respectively.
Recent inflation figures suggest the economy is heating up. Although it can be favorable to farmers if commodity prices rise, there is a looming risk of higher interest rates following that higher inflation.
Gro Intelligence's yield models forecast an average corn yield of 191.33 bushels per acre in Nebraska and 160.25 bpa in South Dakota, while soybean yields are expected to hit 59.36 bpa and 47.09 bpa, respectively.
More imported food products already contain the sugar they need, and production of sugar globally has created a glut at a time when U.S. food companies are marketing more products that contain reduced sugar. So far, the sugar industry has survived by taking market share back from high-fructose corn syrup.
As the 2018 corn and soybean crops head for harvest, DTN/The Progressive Farmer takes a high-tech look at yield predictions featuring the satellite analytics and modeling of Gro Intelligence and on-the-ground-reporting.
