Friday September 29 Grain Stocks + Ag News

 US corn ending stocks down 1% from last year, soybean ending stocks down 2%

The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) Grain Stocks report released today showed that old crop corn stocks on hand as of Sept. 1, 2023, totaled 1.36 billion bushels, down 1% from Sept. 1, 2022. Old crop soybeans stored in all positions were down 2% from Sept. 1, 2022, and all wheat stocks were up slightly from a year earlier.

Of the total corn stocks, 605 million bushels were stored on farms, up 19% from last year. Off-farm stocks, at 756 million bushels, were down 13% from a year ago. The June-August 2023 indicated disappearance was 2.75 billion bushels, compared with 2.97 billion bushels during the same period a year earlier.

Old crop soybeans stored in all positions on Sept. 1, 2023, totaled 268 million bushels, down 2% from Sept. 1, 2022. Soybean stocks stored on farms totaled 72.0 million bushels, up 14% from a year ago. Off-farm stocks, at 196 million bushels, were down 7% from last September. Indicated disappearance for June-August 2023 totaled 528 million bushels, down 24% from the same period a year earlier.

This report also contains revisions to the previous season’s production for corn and soybeans, which is normal for this time of year since the marketing year is complete. Production for 2022 corn and soybeans were each revised down slightly from the previous estimate.

All wheat stored in all positions on Sept. 1, 2023, totaled 1.78 billion bushels, up slightly from a year ago. On-farm stocks were estimated at 598 million bushels, up 1% from last September. Off-farm stocks, at 1.18 billion bushels, were down less than 1% from a year ago. The June-August 2023 indicated disappearance was 614 million bushels, up 8% from the same period last year.

Durum wheat stocks in all positions on Sept. 1, 2023, totaled 57.3 million bushels, up 7% from a year ago. On-farm stocks, at 33.2 million bushels, were up 5% from Sept. 1, 2022. Off-farm stocks totaled 24.1 million bushels, up 8% from a year ago. The June-August 2023 indicated disappearance of 29.8 million bushels was down 12% from the same period last year.

In preparation for the Grain Stocks report, NASS conducted separate surveys for on-farm and off-farms stocks during the first two weeks of September. NASS also released the Small Grains Annual Summary report today. Key findings from that report include:
    All wheat production totaled 1.81 billion bushels in 2023, up 10% from the revised 2022 total of 1.65 billion bushels.
    Area harvested for grain totaled 37.3 million acres, up 5% from 2022.
    The U.S. yield was estimated at 48.6 bushels per acre, up 2.1 bushels from 2022.

The levels of production and changes from 2022 to 2023 by type were:
    Winter wheat, 1.25 billion bushels, up 13%.
    Other spring wheat, 505 million bushels, up 5%.
    Durum wheat, 59.3 million bushels, down 7%.

The Grain Stocks and Small Grains Annual Summary reports and all other NASS reports are available online at nass.usda.gov/Publications.



NEBRASKA SEPTEMBER 1, 2023 GRAIN STOCKS

Nebraska corn stocks in all positions on September 1, 2023 totaled 130 million bushels, down 14% from 2022, according to the USDA's National Agricultural Statistics Service. Of the total, 68.0 million bushels are stored on farms, up 33% from a year ago. Off-farm stocks, at 62.2 million bushels, are down 38% from last year.

Soybeans stored in all positions totaled 21.1 million bushels, up 4% from last year. On-farm stocks of 5.60 million bushels are up 60% from a year ago, but off-farm stocks, at 15.5 million bushels, are down 8% from 2022.

Wheat stored in all positions totaled 41.2 million bushels, up 19% from a year ago. On-farm stocks of 8.50 million bushels are up 37% from 2022 and off-farm stocks of 32.7 million bushels are up 14% from last year.

Sorghum Off-farm holdings, at 840,000 bushels, are down 51% from last year.

Oat stocks stored in all positions totaled 1.21 million bushels, up 21% from last year. On-farm oat stocks totaled 500,000 bushels, down 38% from 2022 and off-farm oats totaled 709,000 bushels, up 262% from a year ago.

IOWA:  Corn stored in all positions in Iowa on September 1, 2023, totaled 277 million bushels, up 8 percent from September 1, 2022, according to the latest USDA, National Agricultural Statistics Service – Grain Stocks report. Of the total stocks, 40 percent were stored on-farm. The June-August 2023 indicated disappearance totaled 509 million bushels, 8 percent below the 557 million bushels from the same quarter the previous year.

Soybeans stored in all positions in Iowa on September 1, 2023, totaled 47.6 million bushels, down 8 percent from September 1, 2022. Of the total stocks, 25 percent were stored on-farm. Indicated disappearance for June-August 2023 was 95.2 million bushels, 39 percent below the 156 million bushels from the same quarter the previous year.



2023 NEBRASKA SMALL GRAIN ACREAGE AND PRODUCTION

Winter wheat production is estimated at 37.0 million bushels, up 41% from last year, according to the USDA’s National Agricultural Statistics Service. The area harvested for grain totaled 880,000 acres, up 7% from 2022. Planted acreage totaled 1.13 million, up 15% from a year earlier. The yield is 42.0 bushels per acre, up 10.0 bushels from last year.

Oat production is estimated at 1.27 million bushels, up 39% from 2022. Area harvested for grain, at 24,000 acres, is up 33% from last year. Planted acreage totaled 155,000, up 24% from a year earlier. Average yield is 53.0 bushels per acre, up 2.0 bushels from 2022.

IOWA:  Oat production was estimated at 7.60 million bushels, up 138 percent from last year, according to the USDA, National Agricultural Statistics Service -- Small Grains 2023 Summary. Oats planted, at 190,000 acres, was up 46 percent from last year. Harvested area for grain was 95,000 acres, up 138 percent from the harvested acres in 2022. Oat yield, at 80.0 bushels per acre, was unchanged from last year.

Small Grains 2023 Summary - September 2023
All wheat production totaled 1.81 billion bushels in 2023, up 10 percent from the 2022 total of 1.65 billion bushels. Area harvested for grain totaled 37.3 million acres, up 5 percent from the previous year. The United States yield was estimated at 48.6 bushels per acre, up 2.1 bushels from the previous year. The levels of production and changes from 2022 by type were:  winter wheat, 1.25 billion bushels, up 13 percent; other spring wheat,  505 million bushels, up 5 percent; and Durum wheat, 59.3 million bushels, down 7 percent.

Oat production was estimated at 57.0 million bushels, down 1 percent from 2022. Yield was estimated at 68.6 bushels per acre, up 3.8 bushels from the previous year. Harvested area, at 831 thousand acres, was 7 percent below last year.

Barley: Production was estimated at 185 million bushels, up 6 percent from the 2022 total of 175 million bushels. The average yield, at 72.4 bushels per acre, was up 0.8 bushel from the previous year. Producers seeded 3.10 million acres in 2023, up 5 percent from 2022. Harvested area, at 2.56
million acres, was up 4 percent from 2022.



Brian Bruckner Offered Contract as General Manager of the LENRD

Thursday night, Brian Bruckner, who has been serving as the interim General Manager, was offered a contract as the General Manager of the LENRD. The contract went into effect on September 28, 2023, is open ended, and was approved unanimously by the Board.

About being selected as the GM, Brian stated, "I'm committed to serving the needs of the District as General Manager well into the foreseeable future."

More information with additional information will be sent in the near future.



Dealing With Mycotoxins Webinar on Oct 19

The Iowa State University Extension and Outreach Dairy Team’s 2023 Dairy Webinar Series continues Thursday, October 19 from 12 noon to 1 p.m. CDST, with a focus on dealing with mycotoxins in dairy rations.

“Mycotoxins affect dairy cows by reducing feed consumption, reducing nutrient utilization, altering rumen fermentation and suppressing immunity,” notes Iowa State University and Extension Dairy Specialist Fred Hall. “The program will go in depth on managing these issues when found in the ration,” continued Hall

To help producers and nutritionist understand how to deal with mycotoxins we have two presenters on the topic.

Dr. Alison Robertson, Professor and Extension Field Pathologist with Iowa State University Extension and Outreach coordinating and providing leadership for corn and soybean disease diagnosis and management. She will discuss what she is seeing in Iowa concerning mycotoxin in corn fields.

Dr. Brady Goetz is owner of Goetz Dairy Consulting affiliated with GPS Dairy Consulting. received his Bachelor of Science in Animal Science from Iowa State University. He then joined Dr. Lance Baumgard’s lab to pursue his PhD focusing on how immune activation and various feed additives may influence cow health and production.  He will discuss how producers can manage their ration when mycotoxins are found in their feed.

There is no fee to participate in this webinar; however, preregistration is required at least one hour before the webinar. Preregister online at: https://go.iastate.edu/VO0ZWG.

For more information, contact the ISU Extension and Outreach Dairy Field Specialist in your area: in Northwest Iowa, Fred M. Hall, 712-737-4230 or fredhall@iastate.edu; in Northeast Iowa, Jennifer Bentley, 563-382-2949 or jbentley@iastate.edu; in East Central Iowa, Larry Tranel, 563-583-6496 or tranel@iastate.edu.



Winter Care of the Cow Herd Compared in New Publication

Best management practices for winter care of the cow herd aren’t always evident, especially when those unfamiliar with raising livestock see animals outdoors in open fields during cold, snowy weather without apparent access to shelter.

A recent Iowa State University study was designed to evaluate whether the effects of winter grazing or confinement for winter care of beef cows in Iowa would have any impact on the physical condition of the cow or the calf born to the cow in spring.

The study looked at two types of winter feeding and care, and compared three management groups of cows at two Iowa State farm locations from December to early March.

Project leader Garland Dahlke, associate scientist with the Iowa Beef Center, said the cows were at least second parity and either Black Angus or a percentage of Black Angus and Simmental breeding, and all were due to calve mid-March through April.

"Half of the cows in all groups were placed in a feedyard with some degree of shelter, and the other half was assigned to a winter swath grazing protocol,” he said. “All were supplemented with better quality feed about three weeks prior to calving to ensure adequate forage quality for cows and their developing calves.”

Measurements throughout the trial included forage quality; weather data; water intake; cow weight, visual body condition scoring, mud scoring and ultrasound of 12th rib fat cover and ribeye area; and calving data. Although there were slight measurement differences between and among the groups by location, it appears that where feedstuff quality is similar between scenarios, there is no difference.

A new four-page publication details the project study, results and findings. Look for Winter Care of the Cow Herd: Confinement Versus Open Grazing, IBC147 available as a free download from the ISU Extension store.

The study was made possible with funding from the Illinois Beef Association, the cooperation of the Iowa State University McNay Memorial Research and Demonstration Farm and Iowa State University Beef Teaching Farm.



Dairy Margin Coverage Program Provides Critical Support for Dairy Operations

The August milk margin triggered the eighth consecutive payment for dairy producers who obtained Dairy Margin Coverage (DMC) for the 2023 program year. August’s income over feed margin is $6.46 per hundredweight (cwt.) with projected DMC payments totaling $120 million. To date, including the projected August payments, dairy producers have received more than $1.2 billion in much needed economic support for 2023 and margin forecasts indicate the likelihood of more to come before the end of the calendar year.  

DMC is a voluntary risk management program administered by USDA’s Farm Service Agency (FSA) that offers protection to dairy producers when the difference between the all-milk price and the average feed price (the margin) falls below a certain dollar amount selected by the producer.  

“While livestock and crop producers alike have been financially impacted by catastrophic natural disaster events, dairy producers’ financial stressors have been compounded by significant market volatilities,” said FSA Administrator Zach Ducheneaux. “Dairy Margin Coverage is a key risk management tool for dairy operations to financially endure the numerous, and often unpredictable uncertainties that adversely impact market prices for milk.”   

Additional Dairy Assistance
DMC complements other assistance available to dairy producers, including the Milk Loss Program (MLP) and the Organic Dairy Marketing Assistance Program (ODMAP).

MLP covers milk that was dumped or removed, without compensation, from the commercial milk market due to qualifying weather events and the consequences of those weather events that inhibited delivery or storage of milk (e.g., power outages, impassable roads, infrastructure losses, etc.) during calendar years 2020, 2021 and 2022.  

USDA recently announced a second round of payments for dairy producers through ODMAP, providing an additional $5 million to help dairy producers with marketing costs to mitigate market volatility, higher input and transportation costs and unstable feed supply and prices that have created unique hardships in the organic dairy industry. FSA has already paid out $15 million in the first round of payments for eligible producers, bringing total ODMAP payments to $20 million.   



Dairy Market Report: Milk Prices on the Rise

Slowing milk production, combined with a robust gain in demand, is supporting a buoyant outlook for U.S. milk prices in commodity markets.

U.S. milk production growth slowed to a crawl in July; meanwhile, total commercial use of milk in all products showed one its strongest gains of recent months. Increased domestic use more than offset a double-digit percentage drop in total export volume in July. This additional demand, combined with flat production, is drawing down stocks of the major dairy products. That may make July the year’s low for milk prices, according to dairy futures, as milk prices add more than four dollars per hundredweight during the following three months. Strong increases in cheese and Class III prices in August signal the start of this milk price recovery.

VIEW FULL REPORT:  https://www.nmpf.org/milk-prices-on-the-rise/.  



August Prices Received Index Up 0.3 Percent

The August Prices Received Index 2011 Base (Agricultural Production), at 125.4, increased 0.3 percent from July but decreased 4.5 percent from August 2022. At 117.4, the Crop Production Index was down 1.6 percent from last month and 8.3 percent from the previous year. The Livestock Production Index, at 134.3, increased 1.4 percent from July, but decreased 0.4 percent from August last year. Producers received higher prices during August for milk, market eggs, strawberries, and cattle but lower prices for corn, broilers, soybeans, and celery. In addition to prices, the volume change of commodities marketed also influences the indexes. In August, there was increased monthly movement for cattle, grapes, hogs, and broilers and decreased marketing of wheat, corn, soybeans, and strawberries.

August Prices Received by Farmers
Crop production: The August index, at 117.4, is 1.6 percent lower than July and 8.3 percent lower than August 2022. The grain & oilseed, vegetable & melon, and other crop index decreases more than offset the fruit & tree nut index increase.

Grain and oilseed: The August index, at 102.3, is down 4.4 percent from July and 16 percent from August 2022.

Feed grain: The August index, at 96.6, decreased 6.3 percent from last month and 20 percent from a year ago. The corn price, at $5.73 per bushel, is down 49 cents from last month and $1.51 from August 2022.

Food grain: At 103.1, the index for August is down 1.7 percent from the previous month and 13 percent from a year ago. The August price for all wheat, at $7.35 per bushel, is 26 cents lower than July and $1.20 lower than August 2022. The August price for rice, at $19.20 per cwt, is unchanged from
July but 10 cents lower than August 2022.

Oilseed: At 112.5, the index for August decreased 3.6 percent from July and 8.5 percent from August 2022. The soybean price, at $14.10 per bushel, is 60 cents lower than July and $1.20 lower than August a year earlier.

Other crop: The August index, at 111.8, is down 11 percent from the previous month and 12 percent from August 2022. The all hay price, at $209.00 per ton, is down $12.00 from July and $39.00 from August 2022. At 76.4 cents per pound, the price for upland cotton is 19.6 cents lower than July and 18.2 cents lower than August 2022.

Livestock production: The index for August, at 134.3, increased 1.4 percent from the previous month but decreased 0.4 percent from August a year earlier. Meat animal and dairy index increases more than offset the lower poultry & egg index.

Meat animal: At 147.6, the August index increased 1.0 percent from the previous month and 18 percent from a year earlier. The August beef cattle price of $182.00 per cwt is $1.00 higher than the previous month and $41.00 higher than August 2022. At $73.70 per cwt, the August hog price is 60 cents lower than July and $12.10 lower than a year earlier.

Dairy: The index for August, at 98.0, is up 13 percent from the previous month but down 18 percent from August a year ago. The August all milk price of $19.70 per cwt is $2.30 higher than July but $4.40 lower than August 2022.

Poultry and egg: At 134.6, the August index decreased 6.2 percent from July and 24 percent from August 2022. The August broiler price, at 62.2 cents per pound, is 6.3 cents lower than July and 15.8 cents lower than a year ago. At 84.0 cents per pound, the August turkey price is 12.0 cents lower than the previous month and 27.0 cents lower than August 2022. The August market egg price, at $1.10 per dozen, is 15 cents higher than July but 70 cents lower than August 2022.

August Prices Paid Index Up 0.1 Percent
The August Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 138.5, is up 0.1 percent from July 2023 but down 0.6 percent from August 2022. Higher prices in August for feeder cattle, diesel, potash & phosphate, and gasoline more than offset lower prices for nitrogen, complete feeds, hay & forages, and feed grains.



Coalition of State Attorney Generals Urge Congressional Leadership to Reject the Hinson-Marshall EATS Act in Farm Bill

A coalition of Attorney Generals, representing 16 states, have submitted a letter to House leaders, Speaker McCarthy, R-CA, Leader Hakeem Jeffries, D-NY, and Senate Leaders Chuck Schumer, D-NY, and Mitch McConnel (R-KY), stating their firm opposition to the so-called Ending Agricultural Trade Suppression (EATS) Act, H.R.4417/S.2019, a proposed federal bill that would undermine the rights of States to regulate agriculture within their jurisdictions and would nullify countless state and local laws.

Leaders of the EATS Act, Rep. Ashley Hinson, R-IA, and Sen. Roger Marshall, R-KS, have positioned the bill as a regulatory solution by reverting to federal overreach. If enacted, the consequences of EATS Act would be dire. The bill would invalidate hundreds of state and local agriculture laws that support family beef, dairy, egg, and pork producers, as well as hundreds of laws related to food safety and invasive pest control.

The Attorney Generals’ letter sent a strong message to the Congressional leaders, stating that the EATS Act “is a severe incursion into the rights of States and local governments to regulate agricultural products sold within their jurisdictions, and Congress should soundly reject this invitation.” The letter went on to say, “For over 200 years, States and local governments have been responsible for ensuring that there is a safe and healthy food supply for their consumers, and that farm products sold locally are governed by locally accountable, elected officials. The EATS Act would up-end that crucial balance of federal and state authority.”

Farming and ranching operations across the nation have been sounding the alarm over the EATS Act since its introduction this past June. Groups and associations, including the Organization for Competitive Markets, Competitive Markets Action, the National Dairy Producers Organization, Alabama Contract Poultry Growers Association, and American Grassfed Association have been especially outspoken, including two lobbying summits in Washington D.C. to help defeat the measure.

“We applaud the Attorney Generals for taking a stand against the EATS Act, which is a direct threat to American agriculture and states’ rights,” said Marty Irby, President at Competitive Markets Action and Board Secretary at the Organization for Competitive Markets. “The potential consequences of the EATS Act are broad and deeply concerning. By undermining farmers, ranchers, and rural control, the bill would erode the bedrock principle of states’ rights.”

Last month a bipartisan group of 30 U.S. Senators submitted a letter to Senate Agriculture Committee leadership opposing the EATS Act, and a coalition of over 170 U.S. Representatives submitted a letter to U.S. House Agriculture Committee Chairman Glenn “G.T.” Thompson, R-Pa., and Ranking Member David Scott, R-Ga., citing their opposition to the bill. Following these letters, the National Governors Association, the National Conference of State Legislatures, the National Association of Counties, and the National League of Cities also submitted letters, emphasizing the importance of avoiding preempting state level laws regarding agriculture production.

The opposition to the EATS Act, H.R.4417/S.2019, continues to garner widespread and diverse challengers, including conservative think tanks such as Freedom Works and the Heritage Foundation. With the addition of the state Attorney Generals representing Michigan, Illinois, Arizona, California, Connecticut, the District of Columbia, Hawaii, Maine, Maryland, Massachusetts, New Jersey, New Mexico, New York, Oregon, Pennsylvania, and Vermont, the bill faces an uphill battle to be included in the Farm Bill.