Blog Header

Blog Header

Thursday, October 30, 2014

Have a Question About the Farm Bill?

The University of Kentucky and its partners have provided a number of resources available to answer your questions about the 2014 Farm Bill. There is also a widget that will allow you to ask extension experts specific questions.  Learn more by visiting: http://www.uky.edu/Ag/AgEcon/farmbill/

USDA Farm Service Agency Announces Key Dates for New 2014 Farm Bill Safety Net Programs.
by Kent Politsch. (October 2014)
The U.S. Department of Agriculture (USDA) is announcing key dates for farm owners and producers to keep in mind regarding the new 2014 Farm Bill established programs, Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC).

2014 Farm Bill Summary
by Aleta Botts, Joe Cain, and Will Snell
. (September 2014)
The Agricultural Act of 2014 was signed into law by President Obama on February 7, 2014 which establishes nutrition, commodity, crop insurance, conservation, and other ag/food programs for next five years (2014-2018). Currently USDA is busy with implementation details. Summary points of the bill are outlined in this publication.

Economic Outlook for U.S. Agriculture During the 2014 Farm Bill
by Will Snell. (September 8, 2014)
YouTube video of a PowerPoint Presentation by Will Snell on September 8, 2014 at a Farm Credit and Farm Bureau sponsored Extension meeting.

Tuesday, October 28, 2014

Turkish Grain Buying Team Tours Kentucky for Harvest Assessment

A team of Turkish grain traders, buyers and shippers visited the Louisville area, October 23-24, to see U.S. coarse grains production and export systems first hand. This was one of 18 teams touring the Midwest as part of Export Exchange 2014, which wrapped up October 22 in Seattle, Washington.

Turkish grain industry representatives and KyCorn staff talk with Consolidated Grain and Barge Co. Commercial Manager Tim Baumgart (center) about operations and grain markets.
With assistance from KyCorn, the Turkish team visited the Consolidated Grain and Barge terminal in Jeffersonville, Indiana. CGB Commercial Manager Tim Baumgart discussed operations and markets and answered many questions the visitors had about crop prices, basis, and capacity. Turkey is a leading importer of U.S. corn, corn gluten meal, distillers dried grains with solubles (DDGS), and soybeans.

Monday, October 13, 2014

Corn Crop Forecast Moves Higher

Corn production in Kentucky is forecast at 222 million bushels, up 3 percent from the September forecast and down 9 percent from the previous crop. Yield was estimated at 153 bushels per acre, up 5 bushels from last month and down 17 bushels from the 2013 level. Acres for harvest as grain were estimated at 1.45 million acres, up 20,000 acres from 2013. 

The U.S. corn production is forecast at 14.5 billion bushels, up 1 percent from the September forecast and up 4 percent from 2013. Based on conditions as of October 1, yields are expected to average 174.2 bushels per acre, up 2.5 bushels from last month and up 15.4 bushels from 2013. Area harvested for grain is forecast at 83.1 million acres, down 1 percent from the September forecast and down 5 percent from 2013. 

Friday, October 10, 2014

KyCorn Welcomes New Communications Director

KyCorn is pleased to announce its newest team member, Danielle Beard Hayden, who was hired as communications director on Oct. 10.

An Oklahoma native, Danielle is a 2012 graduate of Oklahoma State University where she majored in Agriculture Communications and Agriculture Economics. After college she began work as the associate editor of Farm Talk Newspaper, a four-state weekly agriculture newspaper based out of Parsons, Kansas where she was eventually promoted to chief editor.

During her time in Kansas, she met her husband, a Kentucky cattle farmer, and now resides in Ohio County. Since moving to the Bluegrass state, she has worked as a freelance writer and photographer for several cattle publications.

“We are excited about bringing a new, talented, young person on board,” remarked Laura Knoth, KyCorn executive director. “Danielle is committed to agriculture and will help us tell the important story of Kentucky’s grain industry.”

Danielle is replacing Jennifer Elwell, who has been with KyCorn since 1998. Jennifer is now executive director of the Kentucky Agriculture and Environment in the Classroom and pursuing additional interests in ag education and farm public relations projects to serve a broader agricultural community.

Thursday, October 9, 2014

Grains Council Builds Export Markets

While price is an important consideration for buyers of corn and other commodities, the United States’ reputation for reliability and honesty is also a significant market asset. The U.S. Grains Council, a KyCorn-supported organization, has been promoting these benefits in top markets around the globe and will continue to do so as the United States begins harvest for another record corn crop.

The United States exported more than 11 percent of the U.S. corn supply in the 2013/2014 marketing year, which ended Aug. 31. More than 100 countries purchased the U.S. commodity.

U.S. corn exports to Japan enjoyed a powerful rebound, with USDA reports showing 2013/2014 exports and outstanding sales of 11.8 million metric tons (465 million bushels). The Council has been able to provide Japanese end-users with timely, reliable information to reinforce their traditional preference for U.S. corn. This included presentation of the Council’s 2013/2014 Corn Harvest Quality Report at the Japanese Outlook Conference last January.  Now in their third year, the Council’s Corn Harvest Quality and Corn Export Cargo Quality reports have become recognized benchmarks for Japanese buyers who monitor the U.S. crop with great care.

Colombia also saw a dramatic rebound in U.S. sales.  U.S. corn had become uncompetitive in recent years due to more favorable tariff treatment for South American producers. Implementation of the long-delayed U.S.-Colombia free trade agreement (FTA), recent policy changes and the Council’s promotion in that market resulted in dominant market share in the past year. In April 2013, the Colombian Price Ban System increased the duty on South American origin imports to 5.75 percent. Thanks to the U.S.-Colombia FTA, however, the first 2.1 million tons (82.7 million bushels) of U.S. corn imports have a zero percent duty. Overall, the U.S. provided more than 95 percent of the 3.4 million ton (134 million bushels) Colombian corn market, with expectations favorable for the coming year also.

The good news extends to North Africa.  For the 2013/2014 marketing year, Egypt, Morocco and Tunisia took a combined 3.0 million tons (118.1 million bushels) of U.S. corn (accumulated exports plus outstanding sales), compared to nothing over the same period last marketing year.

“A year ago, North Africa dropped off the charts in terms of U.S. corn sales,” said U.S. Grains Council President and CEO Tom Sleight. “But this year, Egypt took nearly as much corn (whole grain) as China, and Morocco and Tunisia are again buying U.S. corn.”

Black Sea producers will continue to provide strong regional competition, but the rebound in U.S. sales this year demonstrates the importance of maintaining a strong and creative presence in rapidly evolving regional markets.

Heading into the 2014/2015 marketing year, the Council has more plans to develop new markets for U.S. corn.  Examples of this include the Council exploring markets for U.S. ethanol demand overseas, building demand for coarse grains and co-products across the globe, including Latin America, Tanzania, China and Japan, in livestock sectors through tours of U.S. facilities, and Export Exchange 2014, the premier international trade conference focused on the export of U.S. coarse grains and co-products.