Posts

Crude Oil Makes New Low, Ethanol Tumbles & is Corn too High

Image
That new #crudeoil low is not good for #ethanol or #corn. I did two interviews on this at the end of last week. One with Eric Mosbey during Commodity Week and one with Geoff Cooper from @EthanolRFA @ScottIrwinUI & @jt_hubbs wrote an @farmdocDaily article, too.


The price of crude oil has reached a new contract low below $20 a barrel.


The ethanol industry is struggling under the weight of #COVID19 and the crude oil price war. I spoke with Geoff Cooper, President and CEO of the Renewable Fuels Association about the situation. With crude in the $20s, #corn is too high for ethanol.



The estimated reductions in #ethanol use are 143 million gallons in March, 391 mln in April, and 207 mln in May, for a total reduction of 741 million gallons or 256 mln bushels of read-reduction-estimate-with-caution #corn write @ScottIrwinUI & @jt_hubbs.

link to @farmdocDaily article

Lincolnland Agri-Energy’s Eric Mosbey explains how #COVID19 and the low price of #crudeoil is affecting #ethanol plants lik…

COVID-19 Guidelines Extended to April 30

Image
President Trump Sunday extended the 15 days social distancing #COVID19 guidelines until the end of April. He made the announcement during a Rose Garden Coronavirus Task Force press conference.

Mr. Trump went on later in the press conference to say he, at this point, would not consider relaxing the guidelines for different regions sometime in April. The President mentioned parts of the corn belt as an example during this exchange. 

Here is a link to the federal COVID-19 guidelines.


Coronavirus & Ag Webinar Friday

Image
The farmdoc team at the University of Illinois College of ACES is starting a webinar series called "farmdocDaily Live" to address agricultural issues related to coronavirus. The first webinar is this Friday.

University of Illinois agricultural economists will host a webinar on the impact of coronavirus Friday morning March 20, 2020, at 11 a.m. central. It will be the first in a series called farmdocDaily Live. Farmdoc team members including Scott Irwin, Todd Hubbs, Gary Schnitkey, Jonathan Coppess, and Nick Paulson will each spend a few minutes calling out specific issues of concern and, if possible, some solutions to consider. ILLINOIS Extension farm broadcaster Todd Gleason will moderate the series and facilitate the question and answer sessions.

The farmdocDaily Live webinars are planned to continue regularly each Tuesday and Friday at 11 a.m. The second program in the series, Tuesday, March 24, will feature University of Illinois infectious disease specialist Jim Lowe. H…

farmdocDaily Live | Coronvirus & Ag

Image
Friday morning at 11am central join farmdocDaily's Jonathan Coppess, Scott Irwin, Gary Schnitkey, and Nick Paulson for the first in our new farmdocDaily Live series. Todd Gleason will lead the 30-minute discussion of the coronavirus impact on ag, planting decisions, and policy
farmdocDaily Live | #Coronavirus & Ag register today http://go.illinois.edu/fddlive

Profitability & IL Corn/Soybean Acreage Shifts

Image
by Gary Schnitkey, ILLINOIS Extension
link to farmdocdaily article

At its recent Agricultural Outlook Forum, the U.S. Department of Agriculture (USDA) released estimates of 2020 planted acres in the United States, with both corn and soybean acres increasing from 2019 levels (see Grain and Oilseed Outlook, February 21, 2020). When compared to 2018 plantings, USDA is projecting a 2020 shift to more corn acres and fewer soybean acres across the United States. Projecting this shift across the U.S. seems reasonable. However, most of those shifts likely will occur outside of the corn belt. Estimated 2020 profitability in Illinois suggests relatively even acres of corn and soybeans in Illinois.


A University of Illinois agricultural economist says corn is likely to be more profitable than soybeans this year across the state. However, as Todd Gleason reports, historical relationships do not suggest large acreage shifts in the state.

Projected Acreage Shifts in the U.S. For corn and soybeans, USD…

The Pace of Soybean Use

by Todd Hubbs, Agricultural Economist - ILLINOIS Extension
Iink to farmdocdaily articleUSDA’s soybean ending stocks forecast of 425 million bushels for the marketing year may show little if any change in the upcoming WASDE report. Despite the recent strength in soybean crush, the current focus is squarely on the impacts of the coronavirus and the implications for both crush and exports as the disease continues to evolve.
University of Illinois ag economist Todd Hubbs discusses the impact coronavirus is and may have on the use of soybeans across the planet.Soybean crush in January saw a record total for the month of 188.78 million bushels. Thus far this marketing year, crush set monthly records in October, December, and January. Even with those monthly records, the crush pace during the first five months of the marketing year, at 897 million bushels, equaled last year’s pace. The USDA’s current projection for crush indicates a 13 million bushel increase over last year. To reach the crush…

A Discussion on Crop Insurance & ARC/PLC with Gary Schnitkey

This is a lengthy discussion with ILLINOIS ag economist Gary Schnitkey detailing the ARC/PLC and Crop Insurance decisions farmers throughout the nation will need to make by March 16, 2020.

March 01 | WILLAg Newsletter

Image
March 01, 2020

The WILLAg.org All Day Ag Outlook is Tuesday. I'd really like to see you at the Beef House. Buy  your ticket now or just show up. (FYI it is way easier on us if you purchase ahead of time).

You may buy your tickets online today or by calling 800–898–1065 by noon Monday. The $30 ticket price includes Beef House rolls and coffee in the morning and your Beef House Lunch! The doors open at 8am central / 9am eastern Tuesday, March 3, 2020, at the Beef House in Covington, Indiana.

walk-ins are welcome!
Todd Gleason, Farm Broadcaster
ILLINOIS Extension
tgleason@illinois.edu or 217–390–1858



Purchase Tickets Online | $30 Each | Click2Buy
- or call 800-898-1065 by noon Monday
- the ticket price includes Beef House rolls and coffee in the morning and your Beef House Lunch!

Tuesday, March 3, 2020
Beef House
16501 Indiana 63
Covington, Indiana 47932

Registration
9:00am eastern / 8:00am central

Opening Remarks
* Todd E. Gleason, ILLINOIS Extension

The Future of Agriculture
* Stev…