Corn & Soybean Digest Farm Industry News
 :: SUBSCRIBE
 :: UNSUBSCRIBE
 :: PREFERENCES
 :: CONTACT US
A Prism Business Media Publication February 22, 2006 | 060222   
TABLE OF CONTENTS
 >> Logan Hawkes

 >> Johanns: no farm bill extension

 >> New farm bill in 2007 not a foregone conclusion

 >> Federal budget cuts

 >> Chemical company goes with biodiesel

 >> Economist: Bad news on energy costs

 >> Money at heart of farm bill debate

 >> Rrrrinnnng! Your irrigation pump's just shut down

 >> News from the Top of the Hill

 >> Late-season soybeans show more fungicide response

 >> Annual survey to assess farm health

 >> Counter-cyclical payment update

 >> Perspectives from the Road

 >> Alabama ag commissioner urges use of biodiesel

 >> Sign Up for MarketMaxx

ADVERTISEMENT

Bicep II MAGNUM followed by Callisto is a great program for season-long weed control and the management of weed competition -- and broad-spectrum, season-long control is the best way to minimize yield reductions due to weeds. According to university research, allowing weeds to reach 4 inches in height before they are controlled can result in up to a 6 percent yield loss. If weeds are allowed to reach 12 inches tall, corn yields can be diminished by 21%. For more details on these University Studies and case histories, Click Here.


  EDITOR'S NOTE
Logan Hawkes
02/22/06    Crop News Weekly
Late winter or not, the spring season is just around the corner and more and more talk is focusing on the farm bill. Agriculture Secretary Mike Johanns says he strongly opposes any effort to extend the current farm bill beyond 2007, citing WTO concerns and the need for reform in the U.S. ag industry. Not everyone, of course, agrees. Catch the details in our top story of the week.

Elsewhere in the news: a boost for biodiesel? An Arkansas chemical company is taking positive steps to convert their operations to the alternative fuel source, giving rise to the hope that other major companies will follow suit. And speaking of energy, if recent reports are true, the world's energy crisis just got worse. Kuwait, long assumed to have some of the world's largest oil reserves, may actually have much less. In late January, Petroleum Intelligence Weekly, an energy industry newsletter, said internal Kuwaiti records show the nation's oil reserves are only about half the 99 billion barrels previously cited. Rounding out the news this week, more about the farm bill, cell phone-based technology on the farm, fungicide-responsive late season soy beans, a farm health survey, and a counter-cyclical payment update.

You'll find these stories and more in this issue of Crop News Weekly. Happy reading.



ADVERTISEMENT

By using a one-pass, pre-emergence application of LUMAX, growers can achieve excellent, season-long control of most troublesome weeds coupled unsurpassed crop safety, which results in higher yields. To learn more about how LUMAX stacks up against the competition. Click Here

Click here to see what growers in your are saying about LUMAX.

  FROM OUR MAGAZINES
Johanns: no farm bill extension
02/17/06   
Agriculture Secretary Mike Johanns says he strongly opposes any effort to extend the current farm bill beyond 2007, saying it might send a signal to the WTO that "we are waiting for them to write our farm bill." Keeping the farm bill in place for another year or two -- a move that appears to appeal to many row crop farmers, particularly in the South -- would also be a waste of an opportunity to provide new direction to American agriculture, the secretary said. - Forrest Laws, Farm Press Editorial Staff

ADVERTISEMENT

New Gramoxone Inteon™ herbicide gives you the fast-acting burndown you love in an easy-to-use formulation. It even helps you to manage glyphosate resistance -- good news at a time when more and more weeds are becoming harder to control.

Visit http://www.gramoxoneinteon-herbicide.com for more information.

New farm bill in 2007 not a foregone conclusion
02/21/06   
In political terms, says Fred Clark, "Next year's farm bill is light years away." The Senate isn't doing anything on the farm bill this year, he notes, and the House is only getting under way with field hearings. And although there is an assumption that a farm bill will be written in 2007, "It might not happen," the vice president and general counsel for Cornerstone Government Affairs, Washington, said at the ninth annual Conservation Systems Cotton and Rice Conference at Robinsonville, Miss. - Hembree Brandon, Farm Press Editorial Staff

Federal budget cuts
02/21/06   
The Bush Administration is again suggesting some proposed cuts in the level of spending on farm program commodity payments for 2007 and beyond, to address the rapidly rising Federal budget deficit. The expected expenditures on these commodity payments in 2005 were up significantly from the $14.5 billion estimated payments in 2004 and $15.9 billion in 2003. However, the 2003 and 2004 spending levels were actually $7 billion and $8 billion under the USDA budgeted amount due to higher grain prices, which resulted in lower than anticipated levels of counter-cyclical payments (CCPs) and loan deficiency payments (LDPs). - Kent Thiesse, The Corn & Soybean Digest

ADVERTISEMENT

By using a one-pass, pre-emergence application of Lexar, growers can achieve excellent, season-long control of most troublesome weeds coupled unsurpassed crop safety, which results in higher yields. Click Here to see more information on Lexar.
Chemical company goes with biodiesel
02/16/06   
If biodiesel truly is the wave of the future, Eastman Chemical is riding a surfboard. "I want to share our story," said Gary McDonald, manager of administration at the Batesville, Ark., company. "I don't want you to think we're presenting ourselves as experts in biodiesel. We're still getting up on the learning curve. But we're happy to tell you what we've done so far, what we've learned so far, and what we're planning to do." - David Bennett, Farm Press Editorial Staff

Economist: Bad news on energy costs
02/15/06   
If recent reports are true, the world's energy crisis just got worse. Kuwait, long assumed to have some of the world's largest oil reserves, may actually have much less. In late January, Petroleum Intelligence Weekly, an energy industry newsletter, said internal Kuwaiti records show the nation's oil reserves are only about half the 99 billion barrels previously cited. If there, the 99 billion barrels would translate to about 10 percent of the world's reserves. - Farm Press Editorial Staff

ADVERTISEMENT

Research in both the United States and South America has proven that Quilt® fungicide offers growers excellent early protection against soybean rust and provides superior control of other foliar diseases. Quilt offers two proven modes of action to prevent and control soybean rust while improving both yield and quality. For more information on Quilt fungicide, please visit http://www.quilt-fungicide.com
Money at heart of farm bill debate
02/15/06   
In the wake of last year's devastating hurricanes, Sen. Thad Cochran, R-Miss., chairman of the Senate Appropriations Committee, began putting together an assistance package. Included was an agriculture disaster provision that would have made a direct payment to producers in disaster-declared counties. "The package started out at about $4 billion," said Reese Langley, the senior director of government affairs for the USA Rice Federation. "Unfortunately, throughout the legislative process in the fall, Cochran faced opposition from the Bush administration, which didn't want any type of direct payment. The House Republican leadership was (also) opposed to the overall size and cost of the aid package." - Farm Press Editorial Staff

Rrrrinnnng! Your irrigation pump's just shut down
02/16/06   
Cell phone-based technology is saving Stan Jones dollars, miles and, importantly, a lot of hours he'd otherwise be spending during the growing season checking on irrigation pumps. The Walnut Ridge, Ark., producer who had 5,000 acres of rice and 2,000 acres of soybeans last year, 100 percent irrigated, uses 40 pumping units to water all those fields. Additionally, he has five 10,000-gallon per minute relift systems moving river water to several large fields, including one that's 700 acres. - Hembree Brandon, Farm Press Editorial Staff

News from the Top of the Hill
02/17/06    National Hog Farmer
Packer Ban - Congressman Leonard Boswell (D-IA) has introduced H.R. 4713 which would prohibit a packer to "own, feed, or control livestock intended for slaughter." Similar legislation, S. 818, has been introduced in the Senate by Senator Charles Grassley (R-IA).

New CAFO Deadline - EPA has extended the deadline to July 31, 2007 for Concentrated Animal Feeding Operations (CAFOs) to comply with federal clean water provisions related to discharges and to develop and implement nutrient management plans.

2006 Net Farm Income Down - USDA is forecasting that 2006 net farm income will be $56.2 billion. This is down $16.4 billion compared to 2005. According to USDA, the value of production for crops will be down $2.3 billion. Cash receipts for livestock and products are forecast to be $122.3 billion in 2006. This is down $2.9 billion compared to 2005. Government payments are forecast to decline $4.5 billion. High fuel and fertilizer prices will result in increase costs of $2.3 billion for manufactured inputs. Total crop revenues from cash receipts and government payments are estimated to be $127.9 billion.

2005 AG Trade Surplus - Even though the United States ended up with a record trade deficit in 2005, agriculture ended the year with a $3.7 billion trade surplus. According to USDA, exports were at $63 billion, approximately $1.6 billion higher than 2004. Imports were $59.3 billion which was $5.3 billion higher. Export values for fruits, nuts, red meat, and poultry meat increased. There were declines in wheat, corn, cotton, and soybeans. The increases in imports were from coffee, malt beverages, juices, wine, fruits, nuts, and dairy products.

Record Trade Deficit - The U.S. trade deficit set a new record of $725.8 billion in 2005. This is an increase of $108.2 billion over the previous 2004 deficit of $617.6 billion. Individual trade deficits with China, Japan, Europe, the Organization of Petroleum Exporting Countries, Canada and Mexico all set new records last year. It was the fourth consecutive year that the United States has set a new trade deficit record. Imports reached $2 trillion last year. U.S. exports were $1.27 trillion. This was a record for U.S. exports. The U.S. trade deficit with China reached a record $201.6 billion last year, a 24.5 percent increase over the $161.9 billion deficit in 2004.

Rescind China PNTR - Senators Byron Dorgan (D-NC) and Lindsey Graham (R-SC) have introduced legislation to repeal Normal Trade Relations (PNTR) status for China. Dorgan in a press statement said, "Since we granted it Permanent Normal Trade Relations status in 2000, our annual trade deficit with China has exploded. It's two and a half times greater today than it was then." In objecting to the proposed legislation, US Trade Representative Rob Portman said, "The fact that China was brought into the global trading system only gives us leverage that we otherwise would not have." The agricultural community was instrumental in the passage of PNTR in 2000. - Scott Shearer

Late-season soybeans show more fungicide response
02/15/06   
A first-year study on large-scale research sentinel plots at Stoneville, Miss., indicates soybeans planted later in the season may respond more to fungicide applications than do early-planted soybeans. Agronomist Trey Koger, USDA Crop Genetics and Production Research, said the tests with varying fungicide programs were prompted by worries in 2005 over the emergence of Asian soybean rust, which scientists say thrives in warm, moist weather. - Andrew Bell, Farm Press Editorial Staff

Annual survey to assess farm health
02/16/06   
The USDA's National Agricultural Statistics Service is giving agricultural producers the opportunity to provide the financial data used by policymakers to draft the 2007 Farm Bill. ARMS is the USDA's primary source of information about the current status of and changes in financial conditions, production practices, use of resources and household well-being for agriculture. The survey results will show the impact of higher expenses, the shifting global markets, farmer production decisions and governmental policies on the agricultural economy. - Farm Press Daily

Counter-cyclical payment update
02/14/06   
Thiesse's Thoughts: Based on the Feb. 9 USDA supply and use estimates, which include estimated national average prices for corn and soybeans in the current marketing year, it does not appear that much has changed from previous USDA Reports. USDA estimated the national average corn price at $1.90/bu. for the 2005 marketing year, which runs from Sept. 1, 2005 through August 31, 2006. This will likely result in USDA projecting the maximum total counter-cyclical payment (CCP) of $.40/bu. for the 2005 corn crop. An advance payment of 35 percent of the estimated amount, or $.14/bu., was available to eligible corn producers in late October 2005. - Kent Thiesse, The Corn & Soybean Digest

Perspectives from the Road
02/14/06   
Road Warrior Dave Kohl writes: "Travel on the road provides a glimpse of what is going on in America. Lecturing at conferences in Chicago, St. Louis, Austin and Atlanta and listening to conference attendees can be draining, but energizing as well. Like this: Forty-three percent of all new mortgages on homes are being made with no money down..." - Dave Kohl, The Corn & Soybean Digest

Alabama ag commissioner urges use of biodiesel
02/16/06   
Alabama Agriculture & Industries Commissioner Ron Sparks is encouraged by the increased attention on alternative fuels in recent months. The idea of fuels derived from sources other than oil is not new to those in the agriculture industry. In fact, Alabama's Department of Agriculture & Industries has been involved with the testing and production of alternative fuels for many years. As the Birmingham Airport Authority prepares to use biodiesel produced at the Alabama Biodiesel Plant in Moundville in all of it's diesel powered vehicles and machinery, Sparks hopes that others will follow their lead. - Farm Press Daily

Sign Up for MarketMaxx
02/22/06   
Sign up and play The Corn And Soybean Digest's fantasy grain game called MarketMaxx. It's easy, fun and hopefully you'll learn a little more about how to market the corn and beans your raise. It's easy to sign-up. Just log on to http://www.marketmaxx.net and register at the top left and begin trading your fictitious 100,000 bu. of corn and 50,000 bu. of soybeans. If you're a winner at the end of the game on October 31 you could take home the grand prize of a year's use of a Massey Ferguson tractor or combine. Or, win additional prizes such as a computer system from Syngenta Crop Protection, customized rugged mobile computers from Grayhill Custom Mobile Solutions or a high-speed satellite Internet service from Agristar Global Networks. - The Corn & Soybean Digest



ABOUT THIS NEWSLETTER

You are subscribed to this newsletter as #email#

To get this newsletter in a different format (Text or HTML), or to change your e-mail address, please visit your profile page to change your delivery preferences.

For questions concerning delivery of this newsletter, please contact our Customer Service Department at:
Customer Service Department
Delta Farm Press
A Prism Business Media publication
US Toll Free: 866-505-7173 International: 847-763-9504 Email:cropnewsweekly@pbinews.com
US Toll Free: (866) 505-7173
International: (402) 505-7173

Prism Business Media
9800 Metcalf Avenue
Overland Park, KS 66212

Copyright 2006, Prism Business Media. All rights reserved. This article is protected by United States copyright and other intellectual property laws and may not be reproduced, rewritten, distributed, re-disseminated, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without the prior written permission of Prism Business Media. About This Newsletter

To unsubscribe from this newsletter go to: Unsubscribe

To subscribe to this newsletter, go to: Subscribe

For information on advertising in Crop News Weekly, please contact: Mike Santi.

Farm Industry News
Product of the Week




View and read about the Farm Industry News Product of the Week.

Click here to visit farmindustrynews.com




Corn & Soybean Digest
Market News



Richard A. Brock

Check out the latest corn and soybean market advice from marketing guru Richard Brock by visiting cornandsoybeandigest.com