Wheat traded lower last week. For the week ending Jan. 15, March Minneapolis lost 22.25 cents, March Chicago lost 31 cents and March Kansas City lost 27.5 cents. As of 10 a.m. Jan. 16, wheat trade was up 5 to 9 cents.
WINNIPEG, Manitoba — The U.S. Department of Agriculture’s January reports were only mildly negative for soybeans, but confirmation of a record American crop combined with a bin-buster developing in South America dropped beans 30 cents on Jan. 12. Corn was mildly bullish.
FARGO, N.D. — North Dakota is once again on the cusp of considering changes in the anti-corporate farming law that was originally passed in 1932. Lawmakers are pondering whether loosening the law for some livestock purposes can even the playing field with neighboring states and provinces.
The past 12 months have been a tumultuous time for the crops arena. Corn, soybean and wheat prices all suffered steep losses in the latter half of 2014, amid a swell in global output and a jump in projected year-end inventories to record levels.
It’s one of the biggest behind-the-scenes stories in Upper Midwest agriculture. It’s the story of aggressive farmers who expanded rapidly between 2007 and 2012 during the boom and prudent operators who expanded with care and caution. It’s a story in which a pivotal chapter might be written during the 2015 crop season.
I received my proposed 2015 property tax letter several weeks ago. The statement says I can expect tax on agricultural land to go up a modest 5.8 percent. This is on top of increases for eight previous years that has averaged 15.9 percent per year.
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