Closing Market Report

ifr180427–105 Yield Implications of Delayed Corn Planting Scott Irwin, Agricultural Economist - University of Illinois read farmdocDaily article The late spring has many worried. Others are confident farmers can plant a corn crop in 5 working days. Todd Gleason reports, University of Illinois agricultural economists have gone through the USDA data to see if this is true and what impact a late planting season might have on corn yields. 1:35 radio 1:50 radio self-contained 1:45 tv 2:00 tv cg (TV ONLY) The grand prairie of Illinois is still lying dormant. It’s soils are just beginning to reach that magical 50 degree mark. That’s when the corn planters begin to roll. (RADIO START HERE) It’s a late start to the season this year, and despite the increased size of the machinery University of Illinois Agricultural Economist Scott Irwin says it’ll still take about as much time to plant the corn crop this season as it did nearly 30 years ago. Irw...

ifr180420–102 A Late Planting Season Lesson Mike Tannura, T-storm Weather - Chicago, Illinois The late start to the growing season in the corn belt and the northern plains has farmers and traders worried. But, as a commodity marketing class at the University of Illinois found out this/last week (April 18) there is much more to be learned from the data. Todd Gleason has more… This 400 level agricultural college class taught… 1:43 radio 1:58 radio self-contained 1:43 tv 1:58 tv cg This 400 level agricultural college class taught by Scott Irwin includes guest lectures by Illinois alum involved in price discovery. In this case, Mike Tannura from T-storm Weather in Chicago is teaching them about how the weather and the markets work together. Right now he tells them is a good example of a weather market. The cold, the snow storms, the damp air hasn’t allowed farmers from Ohio to North Dakota to really begin the planting season. Tannura :15 …then...

ifr180413–100 Planting Dates and Acreage Switches in North Dakota Hans Kandel, Broadleaf Crops Specialist - North Dakota State University The ground is still frozen in North Dakota and that means farmers have yet to turn a wheel for the planting season. The trade has been wondering what it might mean for the eventual acreage mix as it relates to spring wheat and soybeans. Todd Gleason explores the issue with NDSU Extension.

ifr180413–099 2018 Acreage Decisions: Steady as She Goes in Rough Waters Gary Schnitkey, Agricultural Economist - University of Illinois read farmdocDaily article The price of corn and soybeans has been swinging on trade threats and changing acreage mixes in the United States. However, those price movements have yet to change the relative profitability between corn and soybeans writes Gary Schnitkey on the farmdocDaily website this week. Soybeans remain more profitable than corn in the University of Illinois agricultural economist’s crop budgets, but the difference between them has narrowed. Schnitkey says the risks of significant price declines have increased, particularly for soybeans and that hedging a large percentage of 2018 expected soybean production seems prudent. Current prices are higher than earlier in the winter. The central Illinois fall delivery bids on April 6, 2018 were $3.80 for corn and $10.00 per bushel for soybeans. Budgets based on these fall ...

ifr180413–098 NDSU’s Frayne Olson Talks Markets & the PNW Frayne Olson, Agricultural Economist - North Dakota State Univeristy The trading floor at North Dakota State University is extraordinary. Extension uses it to teach day trading lessons to farmers who need to take a longer outlook on the market place. Todd Gleason has more from the Fargo campus.

ifr180413–096 Spring Wheat, A Late Start, & Soybeans Joel Ransom, Extension Cereal Grains Specialist - North Dakota State University The trade is already wondering what will come next if spring wheat doesn’t get planted across the northwestern corn belt. Todd Gleason traveled to Fargo to find out.

ifr180413–093 No Good Way for Perdue to Protect Farmers Jonathan Coppess, Ag Policy Specialist - University of Illinois President Trump has asked the Secretary of Agriculture to protect U.S. farmers from the trade dispute with China. However, as Todd Gleason reports, there aren’t many options for Sonny Perdue. Last week Sonny Perdue was on the road for his second RV… 1:24 radio 1:39 radio self-contained 1:24 tv 1:39 tv cg Last week Sonny Perdue was on the road for his second RV tour of farm country. His first tour was last summer. That’s when he told producers he would be their salesman to the world. Now he’s being asked to be their protector in the face of trade restrictions, some in place others proposed, as President Trump sets about rectifying what he sees as unfair trade with China. However, Perdue isn’t saying what he’ll do for farmers and there may be a good reason that’s the case says University of Illinois Ag Policy...

ifr180406–091 Illinois 4-H’ers Package 1,000,000 Meals for the Hungry Bill Million, Extension Youth Development - University of Illinois Wednesday night 4-H’ers in Illinois packaged their one-millionth meal to help feed the hungry. Todd Gleason was there and has the story. The weather was cold for the beginning of April… 1:53 radio 2:02 radio self-contained 1:53 tv 2:02 tv cg The weather was cold for the beginning of April, but the hearts were all warm. 4-H members and volunteers gathered in a shed to create and package up meals. It’s something they’ve been doing under the guidance of Illinois Extension’s Bill Million since 2013. Million :20 That time was the same year we launched the 4-H Feeding & Growing Our Communities Initiative here in Illinois. Meal packaging has been one of the integral components of engaging 4-H members, 4-H clubs, and communities that address hunger and food insecurity here in Illinois. That’s no small accomplishment. Feeding America pu...

ifr180406–090 Jonathan Coppess Breaks Down Trump Trade Issues Jonathan Coppess, Ag Policy Specialist - Univeristy of Illinois The first week of April has been tumultuous for American agriculture. Todd Gleason talks with Jonathan Coppess about how the Trump Administration has been handling trade with China, the NAFTA negotiations, and biofuels.

ifr180406–087 How to Properly Use Dicamba on Soybeans Aaron Hager, University of Illinois read farmdocdaily article As the growing season approaches it is important for farmers to understand how to use dicamba on resistant soybean varieties. Todd Gleason has more with University of Illinois weed scientist Aaron Hager. The following is an excerpt from the March 23 farmdocdaily article posted by University of Illinois Weed Scientist Aaron Hager. Steps for Successful Weed Management in Dicamba-Resistant Soybean Step 1 plant dicamba soybean seed into a weed-free seedbed achieve a weed-free seedbed through the use of preplant tillage, an effective burndown herbicide(s), or a combination of tillage and burndown herbicides Step 2: select and apply within 7 days of planting a soil-residual herbicide that targets your most problematic weed species; if desired (and labeled), add dicamba and an appropriate buffer for waterhemp or Palmer amaranth, select a product containing...

ifr180406–086 A New Firmer Tone for Corn Prices Todd Hubbs, Agricultural Economist - University of Illinois Last week’s USDA reports solidified the more positive outlook the trade has had for corn. Todd Gleason has more from the University of Illinois with commodity markets specialist Todd Hubbs.