commodity prices

Moran's memo: A farm crisis in the High Plains

Feb 21, 2017
U.S. Sen. Jerry Moran, R-Kansas

As a resident of the community, I was pleased to learn that Manhattan, Kansas, is set to host the first Senate Agriculture Committee farm bill hearing – a fitting location chosen by my colleague Chairman Pat Roberts to kick off formal discussions on the challenges and opportunities in authorizing our next farm bill.

Wheat's merit debated as acreage falls

Feb 16, 2017
Travis Morrise / The Hutchinson News

While farmers across the central plains were gradually easing away from planting wheat, the Horton brothers were doubling down.

Over the past 10 years, Rick Horton and his younger brothers Matt and Alec put together a business at Leoti, Kansas, that consists of portable wheat seed cleaning and seed treatment along with selling certified seed from more than a dozen varieties they test annually on their own farm.

Frank Morris / Harvest Public Media

How low can it go?

That’s what many in farm country asked about the farm economy Tuesday, after the Agriculture Department forecast another plunge this year in profits for farmers.

Net farm income will fall 8.7 percent from last year’s levels, according to the year’s first forecast produced by the U.S. Department of Agriculture’s Economic Research Service (ERS). If realized, that would mark the fourth-straight year of profit declines, after 2013 saw record-highs.

Creative Commons CC0

A western Kansas farming family struggling to keep their fifth-generation farming operation afloat amidst a slump in corn, wheat and other commodity prices is featured in a Wall Street Journal article about the struggling farm economy.

The ongoing slump in corn, wheat and other commodity prices, caused by global oversupply, is putting many farmers in debt and in some cases, resulting in farm closures.

Down times in farm country persist, but not yet a ‘crisis’

Jan 17, 2017
Elliot Chapman

Farmers across the Midwest are trying to figure out how to get by at a time when expected prices for commodities from corn, to wheat, to cattle, to hogs mean they’ll be struggling just to break even.

“Prices are low, bins are full, and the dollar is strengthening as we speak and that’s just making the export thing a little more challenging,” says Paul Burgener of Platte Valley Bank in Scottsbluff, Nebraska.

Amy Mayer/Harvest Public Media

Across the Corn Belt, farmers are signing up for Farm Bill support programs and which ones they choose will impact the overall price tag for taxpayers.

Projections for the cost of these commodity programs are blowing past the amounts originally budgeted just a year ago, when the Farm Bill was enacted, leaving the possibility that U.S. taxpayers will pay out billions more than planned.

2015 is likely to be a mixed bag for Midwest farmers

Jan 29, 2015

Yields are expected to be as good as last year, but commodity crop prices will make it a hard season to survive.

Grant Gerlock, NET News/Harvest Public Media

Nebraska Farmers are bringing in what’s expected to be a record-breaking harvest for both corn and soybeans. But all that productivity has a big financial downside. Only two years after peaking, grain prices are at their lowest level since 2009.

United Soybean Board/Flickr

Farmers’ can anticipate a sharp drop in income this year, according to a new report from the U.S. Department of Agriculture.

In fact, the USDA predicts the $113 billion earned in 2014 will be the lowest amount of net farm income in five years. That’s equal to about a 14 percent fall from last year’s record amount, thanks mostly to a massive drop in crop prices.

www2.dupont.com

On a clear fall day in central Iowa, Aaron Lehman climbed into the cab of his green combine with a screwdriver to do some maintenance. He was hoping his corn had a couple more weeks to grow before harvesting because the price per bushel this fall is much lower than it has been for the past three years.

Corn farmers have been riding high prices for the last few years. But an expected bumper crop has prices falling this harvest season, and many economists expect the price of corn to drop to its lowest level in recent years.