Tuesday July 7 Ag News

Is It Time for the Bulls to Come Home?
Steve Tonn, UNL Extension Educator, Washington County

It seems like yesterday that cows were sent out to summer pasture.  The summer has been good with plentiful rain in June, moderate temperatures and good grass growth.  Because of this, pulling cattle off of summer grass is not real popular.  But it might be time to bring the bulls home.

Pulling bulls is a management decision.  Many producers allow bulls to run the summer with the cows, maybe even into the fall and, for a few, well into winter.  The easiest way to manage bulls is on grass.  Some producers leave them with the cows because of a lack of facilities or willingness to separate the bulls from the cows.    Whatever the reason is maybe it’s time to rethink that decision.

This out of sight, out of mind idea, can lead to a stretched out calving season and more shuffling of cows in the spring.  Are those late born calves worth keeping?  Oklahoma State University and Texas A & M researchers found a positive relationship between the number of days of the breeding season and the production cost per hundredweight of calf weaned.  They also found a negative relationship between the number of days of the breeding season and pounds of calf weaned per cow per year.  Late calving cows are most likely to breed late again in the next calving season.  Once a cow is a late calver the tendency is for her to continue to be a late calver.  Late calving cows cost you money.

Nearly every management decision associated with the cow herd is simplified with a shorter calving season.  Herd health, nutritional, and reproductive management are much easier when all the cows are in a similar stage of production.  Restricting the breeding season to 60 to 90 days will produce a more uniform calf crop which enhances marketing opportunities.  A more concentrated calving season is also important for the smaller or part-time producers who have major time restrictions in their daily lives.

Shortening the calving season is one of the most cost–effective management practices that can be implemented by a cow-calf producer.  Even in times of high calf prices, improving herd efficiency and reducing costs puts more dollars in your pocket.

The move to a shorter, controlled breeding season does not have to be drastic or done in a year’s time.  It can be gradual process achieved over a number of years by progressively shortening the breeding season, removing open cows in the fall, and replacing them with cows that are bred to calve during or before the start of your calving season.

To develop a strategy to shorten the length of you calving season or to establish a controlled calving season, contact me at the Washington County Extension Office.



Saunders Co Soybean Growers Summer Meeting is This Sunday
Nathan Cernik, President, Saunders County Soybean Growers Organization

The Annual Meeting and Dinner of the Saunders County Soybean Growers Organization will be held on Sunday evening, July 12th - 6:00 p.m. for Social Time, 6:30 p.m. for the Dinner.  This event will be held at the Valparaiso Legion Hall in Valparaiso. 

We have secured a number of Agri-Businesses as sponsors for the meeting and dinner. They will be recognized that evening.

If you know someone who is a prospective member, please extend an invitation to join us at this gala event and become a part of our organization.

Please RSVP ASAP! Please call the Extension Office at 800-529-8030. We have to place a meal count with the caterer and if you don’t call ahead, we have no idea that you’re coming. 

Featured speaker for the evening will be Sally McKenzie, Ralph and Alice Raikes, Professor of Plant Science University of Nebraska-Lincoln.  The topic is “What has genetic engineering done for us lately? Some thoughts on where agriculture is heading.

If you have questions, contact one of the Saunders County Soybean Growers Association Directors listed below:

Nathan Cernik – President
Chad Bartek – Vice-President
Ray Kucera Jr  – Treasurer
Ben Deerson
Alan Makovicka
Allen Mumm
Kurt Ohnoutka
John Trutna
Dennis Fujan – District 5 Director NSA
Doug Bartek – Saunders County Director NSA

We look forward to seeing you Sunday evening and hope you will enjoy the program we have planned.



REPLACE THINNING ALFALFA FIELDS
Bruce Anderson, UNL Extension Forage Specialist

               Have you taken a good look at your alfalfa stands lately?  They might be getting a little thin.  They may need replacing.

               The last couple of winters and growing seasons have been tough on alfalfa.  Some alfalfa plants that have managed to survive the harsh weather are showing the accumulated effects of all that stress.  Add in the stress from harvest plus any insect damage or leaf diseases and plants that were old or weak starting out this spring may simply have too much root disease and not enough healthy root to keep going.

               Now is a good time to check fields to learn if they need to be replaced, either with a new seeding this August or next spring.  If weeds are becoming a problem, that is usually a good indication that the stand is getting thin and needs replacement.

               Older, dryland fields with less than 25 shoots per square foot coming from 2 or 3 plants should be replaced.  Very productive sites, such as irrigated and sub-irrigated fields, should have over 40 shoots per square foot coming from 4 to 6 plants.

               Also dig up and look at some roots.  Healthy roots are solid and white, with a firm texture.  A little browning in the top couple inches of the crown may not be much of a problem yet, but it could develop into a serious disease in another year or two.  Roots that are discolored in a third to one-half of the tissue might survive this coming winter, but these plants will not yield well next year.  If crowns and taproots show extensive brownish discoloration or are becoming mushy and partly rotted, these plants probably won’t survive another winter.

               Observe and anticipate declining alfalfa stands.  Then you can replace them on your terms instead of Mother Nature’s.



Humble beginnings make progress for NE agriculture
(from A-FAN)

What started with a phone call from Walt Traudt's banker has grown into an exciting step forward in Nebraska Agriculture.

The Traudt family from Clay Center, Nebraska had no previous experience with hogs, which made the phone call from their banker proposing that they diversify with livestock a little out of the ordinary. After a few family discussions, the Traudts contacted Alan Stephens with Maschhoff's to start drawing up plans for their new hog barn.

Through the construction of the facility the Traudts now have a economically viable way to diversify their farm, offer full time employment to farm hands, and create an opportunity for succession to their children.

The panel of speakers at the event included Senator Curt Freisen, Greg Ibach, and Neil Mossman. All spoke highly of the Traudts, explaining that this investment would not only be beneficial to the family, but to the state of Nebraska.

It's a win-win situation for all us said Senator Freisen when describing the benefits the new site would have on Clay Centers tax base, area farmers, and overall jobs in the area.

The Alliance for the Future of Agriculture in Nebraska congratulates the Traudt family on a truly remarkable accomplishment. Their decision will not only impact their personal lives in a positive way, but it will also help grow their community and Nebraska agriculture.



Iowa Farmer Running for NCGA Corn Board

Bruce Rohwer has served his fellow farmers extensively at the state and national level. Now, he hopes to continue to do so in a new capacity as a member of the National Corn Growers Association Corn Board.

Rohwer is running for election to the Corn Board in the hopes of bringing local perspective to the national level while working to find solutions that take the broader perspective into account. By focusing on the future, he believes the organization will best be able to work through evolving situations and effectively grow markets for corn at home and abroad.

"NCGA is unique in that it brings together corn farmers from across the country to create a cohesive, unified voice in dealing with their shared issues," he said. "I look forward to the opportunity to serve on the Corn Board to offer my input as part of the team but, more importantly, to assist the board in its efforts to guide NCGA as a positive force for our nation's corn farmers."

Currently, Rohwer serves as the custodian of records and secretary for the NCGA CornPAC and as a member of the NCGA Research and Business Development Action Team and the U.S. Grain Council's Middle East and Africa Action Team. At the state level, he is chair and past president of the Iowa Corn Growers Association and chair of the ICGA CornPAC.

"I can see issues from a multitude of perspectives because of my experience," said Rohwer. "I have a diversified operation with livestock. So, I can see the livestock producer's point of view. I have also had the privilege of serving on the board of a company that manufactures food. This provided me with another different perspective on the point of view held by another important corn market. I have a grasp of our customers' perspective and knowledge of the political process in which we must be involved."

Rohwer operates a corn and soybean farm in Paullina (O'Brien County, Northwest IA) along with his son and daughter. Along with a neighbor, he also runs a sow farrow-to-finish operation.



FOUR PROJECTS RECEIVE WATER QUALITY INITIATIVE FUNDING

Iowa Secretary of Agriculture Bill Northey today announced that four projects focused on expanding the use and innovative delivery of water quality practices have been selected to receive $3.06 million in funding through the Iowa water quality initiative over the next three years.  In addition to the state funds, the four projects will provide an additional $2.59 million in matching funds to support water quality improvement efforts as well as other in-kind contributions.

“Broad adoption of a variety of practices is necessary to reach the aggressive goals we all share for water quality.  These four new projects are focused on helping us learn more about the best ways to get these practices on the land and creating demonstration opportunities so farmers can see how a new practice might work on their farm,” Northey said.

All the projects will focus on expanding the use of conservation practices identified in the Iowa Nutrient Reduction Strategy as positively impacting water quality.  In addition, strong outreach components will help to share information on these practices and promote increased awareness and adoption of practices and technologies to reduce nutrient loads to surface waters.

The projects started on July 1.  Thirteen partners from agriculture organizations, institutions of higher education, private industry, the local, state and federal government, and others, are working together on these projects.

Applications were requested in early March and all were reviewed by a committee including representatives from the Department and the USDA Natural Resources Conservation Service.  The committee made recommendations that were used by the Department in selecting the projects to be funded.

“As part of the Iowa Water Quality Initiative we currently have 16 watershed demonstration projects, statewide cost share funds and nine urban conservation projects.  These new projects are another opportunity to continue to engage farmers and encourage even greater adoption of practices focused on protecting water quality,” Northey said.

Here's a short summary of each of the projects........

Advancing Nutrient Reduction in the Rock Creek Watershed
Grant award: $275,190
Total project: $387,190
Project leaders: Iowa Soybean Association (ISA)
Partners: Mitchell Soil and Water Conservation District, Mitchell County Conservation Board, and Iowa Agricultural Water Alliance
Project details: This project will enhance existing collaborative efforts to improve water quality and reduce nutrient loss in the Rock Creek Watershed in the Upper Cedar River Watershed.  Working from a watershed plan developed by farmers and stakeholders, the effort will deliver installation assistance for edge-of-field practices, specifically bioreactors and saturated buffers. Once complete, the watershed will have the largest concentration of these practices in Iowa.   This effort will serve as a pilot site for new and innovative ways to expand implementation of these practices in other areas of the state.

Don’t Farm Naked: Integration of Ruminant Livestock and Cover Crops to Meet Iowa’s Nutrient Reduction Goals
Grant award: $282,680
Total project: $394,680
Project leaders: Practical Farmers of Iowa (PFI)
Partners: Iowa State University Extension, Iowa Beef Center, Iowa Cattleman’s Association, Iowa Learning Farms, and USDA-Natural Resources Conservation Service
Project details: PFI will work with livestock producers in the Floyd, North Raccoon, and Turkey River Watersheds to demonstrate the implementation and value of incorporating cover crops into row crop production in operations with ruminant livestock.  Cover crops have a significant impact on reducing both nitrogen and phosphorus losses while also providing a high-quality, low-cost livestock feed. Planting cover crops, then grazing or harvesting them is a practical way to effectively reduce nutrient pollution, plus provide economic benefits to cattle owners. This presents an opportunity for rapid expansion of this practice across this particular type of farming system.  This project will specifically target these operations to deliver on-farm and practical information through multiple outreach methods to spread knowledge and ultimately adoption of the practice.

Driving Cover Crop Adoption through Education and Technical Assistance and Showing Environmental Benefits
Grant award: $1,007,916
Total project: $2,225,166
Project leaders: Conservation Technology Information Center (CTIC)
Partners: Archer Daniels Midland, DuPont Pioneer, LaCrosse Seed, Practical Farmers of Iowa, and Unilever
Project details:  CTIC will lead this effort to integrate cover crops into the operation of farmers recognized as leaders by their production methods for raising corn and soybeans.  These farmers participate in the “Sustainable Soy” program led by Unilever and Archer Daniels Midland.  Farmers will be able to integrate cover crops onto their farms as part of continuous improvement of their production practices.  This project will leverage investments of farmers and partners to provide technical and financial assistance to build a better understanding of this practice to continue the trend of expanding use of cover crops in Iowa.

Optimized Water Quality Wetlands Integrated with In-Field Nutrient Management Practices
Grant award: $1,500,000
Total project: $2,655,700
Project leaders: Soil and Water Conservation Society (SWCS)
Partners: Agribusiness Association of Iowa and Iowa State University
Project details:  Wetlands targeted for nutrient removal have a significant impact on improving water quality in Iowa.  This project will deliver new and innovative methods for delivering this technology in the Cedar River Watershed.  SWCS is partnering with the Agribusiness Association of Iowa to coordinate efforts with CCAs and ag retailers working with farmers to deliver in-field management practices in the contributing watersheds.  Iowa State University will partner on the monitoring and optimization of wetlands for water quality improvement.  This approach will help inform delivery and expansion of wetlands in other areas of the state.



NCGA Joins Lawsuit to Overturn WOTUS

The National Corn Growers Association joined 13 other organizations in filing a lawsuit last Thursday in the U.S. District Court, Southern District of Texas against the Environmental Protection Agency and the U.S. Army Corps of Engineers seeking to overturn the “Waters of the U.S.” rule.

Chip Bowling, president of NCGA and a farmer from Newburg, Maryland, issued the following statement:

“Farmers need clarity and certainty about their responsibilities under the Clean Water Act. Unfortunately, the Waters of the U.S. rule does neither. Under the new rule, every farmer and rancher in America now has at least one WOTUS on their farm. That puts far too much power in the hands of the federal government and exposes farmers to considerable liabilities – without actually do anything to improve water quality.

Clean water is important. Corn farmers remain committed to working with the EPA, the Corps, and other stakeholders to protect America’s water supply.”

Co-plaintiffs in the lawsuit include American Farm Bureau Federation, American Petroleum Institute, American Road and Transportation Builders Association, Leading Builders of America, National Alliance of Forest Owners, National Association of Home Builders, National Association of Manufactures, National Cattlemen’s Beef Association, National Mining Association, National Pork Producers Council, and Public Lands Council. Similar lawsuits have also been filed by 27 state attorneys general.



Higher Feed Costs Could Mean Pork Losses

Weather-damaged corn and soybean fields are also harmful to hog producers. According to Purdue University Extension economist Chris Hurt, riising feed prices mean higher costs of production for the pork industry.

"Recent higher corn and soybean meal prices have increased anticipated hog costs by about $10 per head," Hurt said. "These higher feed costs shift the outlook from one of modest profits to losses of about $6 per head over the coming 12 months. With the potential for higher feed costs, it is fortunate that the industry has not moved toward aggressive expansion following a record-high profit year in 2014. While profits were exceptional last year, there was also grave uncertainty over the ability of the industry to control the PED virus. Those two forces seemingly have offset each other, and producers indicated to USDA that they had only expanded the breeding herd by 1 percent as of early June. Surprisingly, producers say they intend to drop their farrowings by 3 percent this summer and by 4 percent this fall. The intended decline in farrowings may not develop since the breeding herd remains somewhat higher than year-ago levels."

In the summer and fall of 2014, the PED virus sharply lowered the number of hogs available for processing, Hurt said. As a result, this summer and fall's supplies will be up sharply when compared to the same period last year. Third-quarter pork production is expected to rise by 9 percent, and fourth-quarter production is expected to be up 4 percent. Pork production during the first half of 2016 will come primarily from the reduced farrowings this summer and fall. As a result, pork production is expected to be down by 1 percent in the first quarter of 2016 and by 3 percent in the second quarter.

"Both of these numbers assume producers will follow through on their intentions to reduce farrowings," Hurt said. "If that does not happen, pork supplies will be larger in the first half of 2016."

Hurt added that rising feed costs are a new concern for producers. December 2015 corn futures, as an example, rose from about $3.80 on June 24 to about $4.30 on July 6. This increases the cost of hog production by around $2.25 per live hundredweight. In a similar time period, meal futures have risen about $40 per ton, which increases the cost by about $1.25 per live hundredweight. So recent increases in corn and soybean meal prices have increased costs by about $3.50 per live hundredweight, or by nearly $10 per hog. "Weather is a primary driver of feed prices right now so no one knows if feed costs will get much higher or moderate from here," Hurt said.

According to Hurt, the cost of production had dropped to $50 per hundredweight in mid-June. "With current higher feed prices, costs are expected to be closer to $53.50 for the last half of 2015 and the first half of 2016," he said. "Remember that feed prices can still change considerably, depending on weather for the rest of the growing season."

Hog prices averaged about $48 in the first quarter of this year with an estimated loss of $11 per head. Second-quarter prices were near $56 for an estimated profit of $14 per head. Third-quarter prices are expected to average about $53 per hundredweight, which is near break-even status. The final quarter this year is expected to see prices drop to near $47 with losses estimated at $18 per head. For all of 2015, losses are expected to average about $4 per head. Recent feed-price increases are the primary reason the 2015 outlook has shifted toward expected losses.

What is the outlook for 2016?
Hog prices are expected to be around $47 per live hundredweight in the first quarter of 2016 and rise seasonally to $54 in the second quarter. "Given current corn and meal prices, this would mean an estimated loss of about $17 per head in the first quarter and a profit of $10 per head in the second quarter," he said.

What does all this mean?
"First, pork producers and their allied industries are to be commended for dealing with the PED virus in late 2013 and 2014," Hurt said. "It appears from the USDA producer-survey data that the industry may still be experiencing decreased pigs per litter of around 1 to 2 percent due to the disease. This is just a rough estimate from data collected in USDA's Hogs and Pigs reports. That data seem to show that the number of pigs per litter has not fully returned to the rate of increase during 2008 to 2013, before PED. Second, the industry is also to be saluted for a modest breeding herd expansion after record high profits in 2014.

"It is clear that the impacts on feed prices from the current weather markets can have a large impact on pork production returns," Hurt said. "Weather markets are always difficult to predict, but heightened feed prices should remind the industry to be cautious about expansion and to follow through on intentions to reduce farrowing this summer and fall."



Fertilizer Prices Remain Steady

Average retail fertilizer prices remained fairly steady the last week of June 2015, according to fertilizer retailers surveyed by DTN. No fertilizer prices were substantially lower or higher compared to a month earlier.

Seven of the eight major fertilizers were slightly lower in price compared to a month prior. DAP had an average price of $570 per ton, MAP $596/ton, potash $490/ton, 10-34-0 $642/ton, anhydrous $705/ton, UAN28 $330/ton and UAN32 $369/ton.

One fertilizer was higher compared to the previous month, but the move was minor. Urea had an average price of $469 per ton.

On a price per pound of nitrogen basis, the average urea price was at $0.51/lb.N, anhydrous $0.43/lb.N, UAN28 $0.59/lb.N and UAN32 $0.58/lb.N.

Only one of the eight major fertilizers is double digits higher in price compared to June 2014, all while commodity prices are significantly lower from a year ago. 10-34-0 is still 14% higher compared to last year.

Two fertilizers are slightly more expensive compared to a year earlier. Anhydrous is 2% higher while potash is 1% more expensive compared to last year.

The remaining five nutrients are now lower compared to retail prices from a year ago. Both DAP and MAP are 4% less expensive, UAN28 is down 6%, UAN32 is now 8% less expensive and urea is 12% less expensive from a year previous.



‘Farm a Month: Where Does Our Food Come From?’ New Learning Kit Targets Pre-K to 1st Graders

“Farm a Month: Where Does Our Food Come From?” is a new learning kit developed by the American Farm Bureau Foundation for Agriculture for pre-K to first-grade students.

The Farm a Month kit provides an exciting way for teachers, families and classroom volunteers to engage preschool and elementary-aged students in agricultural-based lessons throughout the year. The kit was developed with the goal of helping foster conversations about where food and fiber comes from.

“Premiere educational resources like the Farm a Month kit are an outstanding jumping-off point for young learners,” said Julie Tesch, executive director of the Foundation. “But there is nothing quite like meeting a farmer face-to-face. We encourage educators and parents to also contact their local county Farm Bureau to connect with farmers and ranchers in their area.”

Farm a Month kits are equipped with 12 activities, each focusing on a different commodity: maple syrup, popcorn, peaches, pears, apples, oranges, lettuce, grapes, cheese, pumpkins, turkeys and cranberries. Suggested snacks and related books to read are included for each activity.

“Activities can be done at any time during the year and completed in any order,” noted Tesch. “For students not in school year-round or for home-schoolers, setting up a farm-learning schedule would work well with the kits – ‘Farm Fridays’ or ‘Meet a Farmer Mondays’ are just a couple of options,” she said.

A 36” x 24” map of the United States and reusable stickers are included in each kit to reinforce geography as students learn about where different foods are produced. Each activity also includes a “Meet a Farmer” feature, with stories about life on the farm from people across the U.S.

The Farm a Month kit is available for purchase for $25 online at http://bit.ly/FarmaMonth.



TPP Action Expected Soon Following TPA Approval

A ministerial meeting aimed at finalizing the 12-nation Trans-Pacific Partnership, or TPP, trade deal is set for the last week of July, a source close to the negotiations said a week ago on condition of anonymity. This was on the heels of the Trade Promotion Authority (fast-track trade authority) signed into law by President Obama.

According to Reuters, the meeting of trade ministers from the dozen countries involved would likely mark the final stage in the TPP negotiations, a massive trade pact covering 40 percent of the world's economy.

Negotiations are set to begin on July 23, said the source, adding that the location will likely be in the United States.

Japanese Economy Minister Akira Amari said he hopes the TPP can be wrapped up by the end of July, and New Zealand Trade Minister Tim Groser said he sees a U.S. summer break in August as a deadline. A senior Mexican trade official has said a final deal will likely be signed within the "next few weeks."

The trade deal reaching from Canada to New Zealand would potentially raise annual global economic output by nearly $300 billion, Reuters reports.



July 7 Short-Term Energy Outlook
(eia.gov)

    North Sea Brent crude oil prices averaged $61/barrel (b) in June, a $3/b decrease from May. Crude oil prices fell by about $4/b on July 6 in the aftermath of the "no" vote in Greece on the economic program, as well as lingering concerns about lower economic growth in China, higher oil exports from Iran, and continuing growth in global petroleum and other liquids inventories. A percent price change of this extent on a single day is unusual, but despite daily price volatility, monthly Brent crude oil prices have averaged between $55/b and $65/b per month since falling to $48/b in January.

    EIA forecasts that Brent crude oil prices will average $60/b in 2015 and $67/b in 2016. Forecast West Texas Intermediate (WTI) crude oil prices in both 2015 and 2016 average $5/b less than the Brent price. The current values of futures and options contracts for December 2015 delivery (Market Prices and Uncertainty Report) suggest the market expects WTI prices in December 2015 to range from $41/b to $89/b (at the 95% confidence interval).

    U.S. regular gasoline monthly average retail prices reached $2.80/gallon (gal) in June, an increase of 8 cents/gal from May but 89 cents/gal lower than in June 2014. The price rise between May and June reflects signals of strong gasoline demand in the United States and abroad. EIA expects monthly average gasoline prices to decline gradually from their June level to an average of $2.49/gal during the second half of 2015. EIA forecasts U.S. regular gasoline retail prices to average $2.48/gal for all of 2015.

    EIA estimates total U.S. crude oil production declined by 50,000 barrels per day (b/d) in May compared with April. Production is expected to generally continue falling through early 2016 before growth resumes. Projected U.S. crude oil production averages 9.5 million b/d in 2015 and 9.3 million b/d in 2016.

    Natural gas working inventories were 2,577 billion cubic feet (Bcf) on June 26, which was 35% higher than a year earlier and 1% higher than the previous five-year average (2010-14). Although injections have been strong most weeks, hot temperatures and high demand from the electric power sector contributed to lower-than-average injections during late June. Nevertheless, working inventories are on pace to end the injection season above the previous five-year average. EIA projects end-of-October stocks will be 3,919 Bcf, 121 Bcf (3.2%) more than the five-year average.

Liquid Biofuels
On May 29, the U.S. Environmental Protection Agency (EPA) proposed a rule setting Renewable Fuel Standard (RFS) volumes for 2014 through 2016. Although these volumes could be modified before the final rule is issued, they are used in developing the current STEO. Ethanol production, which averaged 935,000 b/d in 2014, is forecast to remain near current levels in 2015 and 2016. Ethanol consumption, which averaged 878,000 b/d in 2014, is forecast to average 894,000 b/d in 2015 and 902,000 b/d in 2016, resulting in an average 9.9% ethanol share of the total gasoline pool in 2015 and 2016. EIA does not expect measurable increases in E15 or E85 consumption over the forecast period. The proposed RFS targets are expected to encourage imports of Brazilian sugarcane ethanol, which were just 3,000 b/d in 2014. Because of the expected increase in ethanol gross imports, net exports of ethanol are forecast to fall from 51,000 b/d in 2014, to 44,000 b/d in 2015, and to 36,000 b/d in 2016.

EIA expects the biggest effect of the proposed RFS targets to be on biodiesel consumption, which contributes to meeting the biomass-based diesel, advanced biofuel, and total renewable fuel RFS targets. Biodiesel production averaged an estimated 81,000 b/d in 2014 and is forecast to average 91,000 b/d in 2015 and 98,000 b/d in 2016. Net imports of biomass-based diesel are also expected to increase from 16,000 b/d in 2014, to 24,000 b/d in 2015, and to 35,000 b/d in 2016. EIA expects that a combination of higher biomass-based diesel consumption, higher consumption of domestic and imported ethanol, and banked Renewable Identification Numbers (RINs) will help meet the newly proposed RFS volumes through 2016.



CWT Assists with 8.4 Million Pounds of Cheese and Whole Milk Powder Export Sales

Cooperatives Working Together (CWT) has accepted 28 requests for export assistance from Dairy Farmers of America, Michigan Milk Producers Association, and Northwest Dairy Association (Darigold) who have contracts to sell 1.171 million pounds (531 metric tons) of Cheddar, Gouda and Monterey Jack cheese, and 7.275 million pounds (3,300 metric tons) of whole milk powder to customers in Asia, Central America, the Middle East, North Africa and South America. The product has been contracted for delivery in the period from July through December 2015.

Year-to-date, CWT has assisted member cooperatives who have contracts to sell 39.572 million pounds of cheese, 30.395 million pounds of butter and 29.374 million pounds of whole milk powder to thirty one countries on five continents. The amounts of cheese, butter and whole milk powder in these sales contracts represent the equivalent of 1.264 billion pounds of milk on a milkfat basis.

Assisting CWT members through the Export Assistance program, in the long-term, helps member cooperatives gain and maintain market share, thus expanding the demand for U.S. dairy products and the U.S. farm milk that produces them. This, in turn, positively impacts all U.S. dairy farmers by strengthening and maintaining the value of dairy products that directly impact their milk price.



Commodity Classic Trade Show Floor Opens to New Exhibitors

Companies with products, services, technology and innovation targeting the nation's leading farmers now have the opportunity to get in front of that coveted audience.   Commodity Classic, the nation's largest farmer-led, farmer-focused convention and trade show, has announced the opening of the trade show floor for the 2016 Commodity Classic in New Orleans, March 3-5, 2016.

"The increased size of the trade show floor in New Orleans provides additional space for new exhibitors and a perfect opportunity for companies who have been wanting to participate in Commodity Classic," said Sam Butler, an Alabama soybean farmer and Commodity Classic Co-Chair.  "This is where the nation's top farmers come to learn what's new and become even better at what they do.  And it's where the companies that want to reach those farmers come to exhibit."

Commodity Classic is the annual trade show and convention of the American Soybean Association, National Corn Growers Association, National Association of Wheat Growers and National Sorghum Producers. In 2016, Commodity Classic welcomes the Association of Equipment Manufacturers as an affiliate of the event.

"Commodity Classic is an especially great opportunity for new startups to get noticed and get honest feedback from important customers," said Wesley Spurlock, a Texas corn farmer and Commodity Classic Co-Chair.  "There is no better market research than having smart farmers experience your product or service first-hand and give you honest feedback right there and then."

Some 72 percent of growers attending the 2015 Commodity Classic characterized themselves as "early adopters" of new products, technology and innovation. Total growers at the 2015 Commodity Classic represented:
      • Nearly $5 billion in total gross farm income
      • A per farm average gross farm income of $1.77 million
      • More than $1 billion in total equipment purchases
      • Nearly $875 million in total seed and chemical purchases
      • More than $858 million in total fertilizer purchases

The remaining exhibit space will likely be sold quickly, so exhibitors are urged to stake their claims as soon as possible.  "This is a rare opportunity to have a good inventory of available exhibit space," Butler said.  "But companies should act quickly if they want to ensure their place in New Orleans."

"With the addition of AEM in 2016, Commodity Classic promises to be bigger and better than ever," said Spurlock.  "More education.  More technology, equipment and innovation.  More exhibitors—and most importantly, more of the nation's top farmers."

Commodity Classic has consistently broken annual attendance records over the past several years.  In 2015, nearly 8,000 people attended the 20th Commodity Classic in Phoenix, Ariz.—and 4,328 of them were farmers.

For an exhibitor prospectus, visit CommodityClassic.com/exhibitors.  For additional information, contact tradeshow@commodityclassic.com or call 636.922.5551.



Ex-MF Global Leaders Pay $64.5 Million

Jon S. Corzine and other former MF Global officials will pay $64.5 million to settle an investor lawsuit, according to a court filing.

In a Tuesday filing with the U.S. District Court in Manhattan, lawyers for former MF Global shareholders led by the Virginia Retirement System and the Queen of Alberta, Canada, said ex-MF Chief Executive Corzine, as well as former finance chief Henri J. Steenkamp and other former employees, will pay the money in cash. The settlement is subject to court approval.

A lawyer for Corzine didn't immediately have comment.

The settlement is the third in the suit by shareholders. Judge Victor Marrero has already approved their $74.9 million settlement with a group of underwriters named in the suit, and will soon decide whether to approve a $65 million settlement with accounting firm PricewaterhouseCoopers LLP.

In 2013, the judge denied Corzine's bid to dismiss the suit, saying it amounted to a claim that "stuff happens," or that the company's sudden implosion was the "fateful work of supernatural forces."

The suit accused Corzine of misleading investors about the risky bets on European sovereign debt the company made, leading to its Oct. 31, 2011, bankruptcy filing. Corzine had called the lawsuit "jumbled" and said investors weren't misled.

When MF Global collapsed in 2011, after Corzine's bets on the debt came to light, a trustee unwinding the company's brokerage estimated a $1.6 billion shortfall in brokerage-customer accounts.

Funds have been recovered to satisfy the customer claims, but the creditors of both the MF Global Inc. brokerage and its parent won't ever get 100% of their money back.

Unsecured creditors of the MF Global Inc. brokerage have already received nearly $1 billion after their most recent distribution was approved by a bankruptcy judge last month.

Corzine, a former Goldman Sachs chairman and New Jersey governor, still is facing other lawsuits over the implosion, including one from the litigation trust representing MF Global's parent company and one from the U.S. Commodity Futures Trading Commission. Corzine and other accused executives have denied any wrongdoing and have sought dismissals of all the suits.