Author: staff

In this episode, financial adviser and first-generation cattle producer Blake Miller said cash flow is the key to farm success. He shared retirement planning tips for farmers and offered strategies for protecting the family farm and building wealth. Watch Our Interview Meet Blake Miller Despite growing up in suburban Atlanta and having no background in agriculture, when COVID hit in 2020, Miller said, “I wanted to learn about raising my own food and having that supply chain localized.” He said he started watching farming videos on YouTube and sent a letter to around 30 local farmers, telling them he was…

Key Takeaways Most states now report mature corn, according to the USDA, with Texas leading at 71%.North Carolina and Tennessee are showing strong progress ahead of average.Three of the four states with no mature corn yet typically report by this time. In the USDA Crop Progress report released Aug. 25, all but four states reported mature corn. Here’s a closer look at the 14 states that reported, and the four that have yet to report at that crop growth stage. Texas Leading the pack is Texas, where 71% of corn has reached the mature growth stage. That’s up 6 percentage points from…

Key Takeaways Cooler weather settled across much of the Midwest after a hot start to the week.Dryness and drought expanded in parts of the central U.S., contrasted with locally heavy showers in some areas.Rainfall helped maintain soil moisture in the Upper Midwest, while the High Plains saw drought relief and worsening conditions. Weather patterns varied across much of the U.S., according to the latest U.S. Drought Monitor. Dry weather in many areas across the central and eastern U.S. led to declining topsoil moisture reserves. Later in the week, cooler air arrived across the North and areas east of the Rockies,…

By Vallari Srivastava, Sumit Saha, and Pooja Menon in Bengaluru Aug. 29 (Reuters) – Grain trader Archer-Daniels-Midland ADM.N said on Friday it plans to cease operations at its plant in Bushnell, Illinois, as part of its plan to streamline its soy protein production network. The Chicago-based company added its recently recommissioned flagship facility in Decatur, Illinois, is expected to improve operating profit over time. ADM has been cutting jobs and downsizing certain operations since announcing in February that it planned to reduce costs by $500 million to $700 million over three to five years. The grain trader has been reeling from an accounting scandal last year…

By Michael Langemeier and Anil Balchhaudi There are numerous reasons a farm may want to expand, including the following: reduce per-unit costs, improve profit margins, improve asset utilization, bring in new family members, invest retained earnings, and more fully utilize the skills of key managers (Boehlje and Langemeier, 2016). In general, larger businesses have lower per-unit costs, higher profit margins, and can more fully utilize assets such as machinery and buildings, which improves their asset turnover ratio. Larger businesses also tend to retain more money in the business.   Langemeier and Mintert (2023) noted that farm operators who expect to grow are relatively…

The next generation of beef leaders is already putting in the hard work — on ranches, in classrooms and in research labs. The Colvin Scholarship Fund recognizes and supports their dedication, awarding 27 students across the country a combined $100,000 this year to continue their pursuit of innovation, growth and leadership in the beef industry. Each recipient is actively pursuing a career in production agriculture, industry research or other agricultural endeavors. With their aspirations for success in the beef business, they are continuing the legacy of Certified Angus Beef’s (CAB) co-founder and long-time executive director, Louis “Mick” Colvin. Since 2002,…

The U.S. Department of Agriculture Agricultural Marketing Service has approved three new vision grading instruments for use in its beef grading program. This technology helps ensure consistent, uniform application of USDA beef grades that drives payments for producers, value determinations for packers, and ultimately communicates quality to the U.S. consumer. The integration of these technologies will also help modernize grading operations, support data driven decision making, and improve the overall transparency and uniformity of carcass evaluation for customers and stakeholders. Technology is approved to predict marbling scores for the application of Prime, Choice, and Select grade shields, the application of…

December corn ended the day up 10¼¢ at $4.20¼ per bushel. For the week, the contract closed up 8¾¢. This was the second consecutive week December corn closed higher. November soybeans closed up 6½¢ at $10.54½ per bushel. Week-over-week, the contract closed down 4¢. December CBOT wheat ended the day up 5¼¢ at $5.34¼ per bushel. December KC wheat closed up 4¢ at $5.19¾ per bushel. December Minneapolis wheat was up 2¾¢ at $5.80. For the week, the contracts closed mixed, with CBOT wheat higher, and KC and Minneapolis wheat lower. October livestock ended the day higher. Live cattle were up…

U.S. Secretary of Agriculture Brooke Rollins announced new measures Thursday to tackle the critical shortage of rural food animal veterinarians across the country. The plan includes expanded grant funding, recruitment strategies, and new investments in rural veterinary practices, alongside the opening of a modernized U.S. Department of Agriculture office in Mississippi. “Rural veterinarians are vital for the agricultural economy in the United States,” Rollins said. “Our farmers and ranchers rely on these critical services to prevent the transmission of animal disease, protect our food supply, and support America’s rural economy. With these new investments in scholarships and pay incentives, USDA…

Key Takeaways Weather turning fall-like – The week ending Aug. 24 was cooler and drier with good sunshine.Corn is strong but stressed — Most corn is on track with average progress and in better shape than the national average, but disease pressure like southern rust is a major concern.Soybeans also face disease pressure — Soybeans look decent overall and better than the national average, but sudden death syndrome and white mold are spreading in fields. USDA published the latest Crop Progress report on Monday, Aug. 25. Here’s a closer look at recent weather and the status of Indiana’s most important…