May 18, 2012

Report highlights good quality of 2011 corn crop

U.S. corn farmers harvested a high-quality crop in 2011, according to a report released by the U.S. Grains Council. With good test weights, low damage and relatively high protein concentrations, the crop will require little drying and store well. The first report of this kind issued by the Council, this initial edition sets a baseline for subsequent annual updates while establishing credible criteria and processes through which to assess the crop.

“The global corn market is increasingly competitive, and the Council believes that the availability of accurate, consistent, and comparable information is in the long-term interests of all concerned,” said USGC Chairman Wendell Shauman. “Improved information will facilitate increased trade – and when trade works, the world wins.”

This report, created to answer buyers’ questions about the quality of the current U.S. crop and assist in making well-informed decisions, adds to the insight offered by the National Corn Growers Association in reports such as World of Corn.

“We are extremely pleased not only by the positive analysis of the crop, but also by the launch of the publication itself,” said NCGA President Garry Niemeyer. “One of the greatest tasks we face as an organization is educating consumers about what corn farmers do, why they do it and on the issues that affect the industry. The Council’s quality report provides the vital information needed to foster productive trade relationships and maintain healthy export markets.”

Source: NCGA

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Halvorson speaks with U.S. Wheat Associates Chairman Suess at Commodity Classic

Commodity Classic, the official trade show and convention for four different national commodity groups, is underway in Nashville, TN. It’s a major show for the American Soybean Association, the National Corn Growers, the National Association of Wheat Growers and the National Sorghum Producers.

Rusty caught up with the Chairman of the U.S. Wheat Associates, Randy Suess, a soft white wheat  grower from Colfax, Washington while at the show. He spoke to Suess about U.S. wheat exports.

Suess

The end of the Canadian Wheat Board’s single desk for marketing western Canadian wheat, due Aug. 1, is expected to create an increased need for a viable futures market to manage risk and aid in price discovery.

To that end, Commodity News Service Canada reported this week that representatives of the Chicago Board of Trade, Minneapolis Grain Exchange and ICE Futures Canada came to Winnipeg Tuesday to highlight the benefits of using their respective contracts in a panel discussion at the Wild Oats GrainWorld conference.

Winnipeg-based ICE Futures recently-introduced milling wheat contracts have only traded for a little over a month, and exchange officials have admitted that trade was thin “but not disappointing.”

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Final day of National Hard Spring Wheat Show

Today marks the final day of the 59th Annual Hard Spring Wheat Show at the Airport International Inn in Williston, ND.

The show focuses on the business of agriculture, and several speakers have covered topics ranging from soil compaction to export challenges and opportunities.

We spoke with Mike Krueger, Founder and President of The Money Farm, during Tuesday’s opening session.  He gave a presentation about the new market volatility that farmers and ranchers face daily.

Mike Krueger

The meeting adjouns Wednesday at 4 pm.  To see winning photos from the National Hard Spring Wheat Show Photo Contest, like us on Facebook and look for the Spring Wheat Show album. 

 

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