WASHINGTON — The National Grain and Feed Association is urging the Senate Agriculture Committee to make dramatic changes to reduce the size of the Conservation Reserve Program, which is currently authorized to pay farmers to idle up to 32 million acres of farmland.
WASHINGTON — With gas prices ticking ever-higher and the summer months approaching, no relief is in sight. Gas prices affect not only your cost at the pump, but also the cost to transport goods you use in everyday life, such as food and clothing. With an economy that is slowly recovering, spikes in the price of fuel could spell disaster. Congress needs to act to ensure our economic recovery is not derailed.
WASHINGTON — During the past year, I’ve visited dozens of Minnesota’s businesses and farms. All over the state, you see that “Made in America” isn’t just a timeworn cliché — it’s happening here and it’s happening now.
The wheat markets had losses of 15 to 26 cents last week. The winter wheat markets had the larger losses due to beneficial rains in much of the winter wheat belt and losses in the corn market. Minneapolis wheat had lighter losses due to strong export sales and lingering concerns about dry soil conditions in the Northern Plains. Markets will likely spend this week positioning ahead of the March 30 reports.
Keith Deutsch knows that part of his job is promoting his crop. He knows he needs to be realistic, too. “It just doesn’t look too good for this spring,” says Deutsch. a Plaza, N.D., farmer and president of the U.S. Durum Growers Association. “It may sound strange for someone from the association to be saying that.” But Deutsch and other area durum boosters say they have to acknowledge the obvious.
The corn market gained 8 to 10 cents in both old and new crop contracts last week. Corn found support from smaller South American production and tighter U.S. old crop ending stock estimates. The U.S. Department of Agriculture will release its next monthly crop production and supply/demand report on March 9.
FARGO, N.D. — Oil, shovel-loaders, agricultural tractors and wheat led the way to a 33 percent jump in the value of North Dakota goods being sold to foreign countries in 2011, according to the U.S. Commerce Department.
The corn market lost 10 cents last week as there were no big surprises in the U.S. Department of Agriculture supply and demand report. Traders were expecting tighter stocks and an increase in exports, which did materialize and was built into the market.
The corn market remained unchanged last week and traded near $6.40 in the March contract. The futures traded in a sideways pattern last week as it lacked any fresh news. Decent export sales last week, a firm cash market and lack of farmer selling offered support.
WASHINGTON — Just as the U.S. dairy industry is preparing to ramp up exports, a new barrier has appeared on the horizon. The European Union is attempting to use free-trade agreements to convince other countries to impose “geographical indication” rules that would make it illegal for U.S. companies to use the names of cheeses and other products that originated in Europe.
The corn market gained 25 cents last week with the strength in the wheat market. Rumors that Russia may put a tax on wheat exports and may even ban exports supported the wheat market which spilled over to corn. The strengthening export demand and a firming cash basis also offered support last week.
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