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Latest farmdoc Daily Articles

Does the Correlation Between Spring and Summer Weather Explain the Puzzling Results on Late Planting and Corn Yield?

In a recent farmdoc daily article (May 9, 2022), corn planting date results from agronomic field trials in Illinois were compared to state-level estimates of late planting impacts.  The field trials indicated that the yield penalty for planting past mid-May…

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Tracking Corn and Soybean Prevent Plant in 2022

Crop insurance’s prevent plant provision has the potential to reduce planted acres if weather delays planting until prevent plant’s first decision date.  This potential is especially relevant in 2022 with its tight supply-demand balance.  Planting progress as of May 15…

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Production from Double-Crop Soybean Rotations

For 2023, growing wheat followed by soybeans (wheat-double-crop-soybeans) currently is projected to be more profitable than growing either corn or soybeans, particularly in southern Illinois. Much of the higher projected profitability is due to higher prices caused by the Ukraine-Russia…

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Early Export Sales Commitments and New-Crop Balance Sheets for Corn, Soybeans, and Wheat

On Thursday, May 12, the USDA released its first complete 2022/23 marketing year supply and demand estimates for corn, soybeans, and wheat in the May 2022 WASDE report. These estimates provide an important point of reference for old-crop and new-crop…

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Prevent Plant Policy Options

As discussed in the May 4, 2022 farmdoc daily, crop insurance’s prevent plant provision has the potential to notably reduce planted acres if planting is delayed by weather until prevent plant’s first decision date.  This potential is important in years…

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Price Later Contracts and the Illinois Grain Code: An Update from the Court’s Decision in Miller v. Department of Agriculture

In 2003, Illinois significantly revised its Grain Code to provide additional protection to famers in the event a state-licensed grain dealer or warehouse fails. A grain elevator that stores grain for a farmer acts as a warehouse, while an elevator…

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Latest Farm Policy News Articles

Russia Won’t Halt Black Sea Blockade; Indonesia Lifts Ban on Palm Oil Exports; and Diesel Prices Climb

Wall Street Journal writers William Mauldin and Vivian Salama reported in today’s paper that, “Russia dismissed calls from top United Nations and Western officials to halt a Black Sea blockade that has prevented Ukraine from exporting much of its grain to…

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Elevated Fertilizer Prices Remain, as UN in Talks to Restore Ukrainian Grain Exports

Bloomberg writer Elizabeth Elkin reported yesterday that, “In more bad news for farmers, a fertilizer that’s key for corn production will remain expensive for at least two years.”

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ERS: US Wheat Price Projected at Record High, Major Exporters’ Ending Stocks Lowest Since 2012/13

In its monthly Wheat Outlook report on Monday, the USDA’s Economic Research Service (ERS) stated that, “The U.S. season-average farm price (SAFP) for 2022/23 is projected to reach a record $10.75 per bushel, supported by tight domestic stocks.”

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India Announces “Some Relaxation in Wheat Export Notification,” as U.N. Seeks to Ease Ukraine Grain Blockade

Reuters writers Rajendra Jadhav and Mayank Bhardwaj reported today that, “India will allow overseas wheat shipments awaiting customs clearance, the government said on Tuesday, introducing some relaxation in exports after it banned overseas sales of the staple on Saturday.”

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Wheat Prices Climb After India Export Ban, as Details of the New Restrictions Assessed

Financial Times writers Hudson Lockett and Nic Fildes reported yesterday that, “Wheat prices rose by the maximum amount allowed on Monday after India imposed a ban on exports, stoking pressure on food costs as tight global supplies roiled international markets.”

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Global Food Problems “Piling Up,” India Wheat Export Ban Adds to “Global Strains”

Bloomberg writer Pratik Parija reported today that, “India’s move to restrict wheat exports is set to reverberate through global agricultural markets, exposing just how tight global supplies are after the war in Ukraine and threatening to drive up food prices…

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