Evening Report (VIP) -- August 15, 2013

August 15, 2013 09:44 AM
 

INITIAL 2013 FSA ACREAGE DATA SHOWS 7.7 MILLION ACRES PREVENTED PLANTING... Corn and soybean futures reacted with strong gains to the initial release of the Farm Service Agency's certified acreage data. The data shows 7.711 million acres as prevented planting for the 2013 growing season, a sharp rise from the 1.218 million acres the agency said were unplanted in 2012. Corn prevented planting acreage is currently reported at 3.411 million with 1.619 million for soybeans and 1.744 million for wheat. FSA data also shows 2.077 million acres of cotton reported as failed acreage and 2.542 million acres of wheat as failed.

Current planted acreage is reported at 88.517 million for corn, 7.702 million for cotton, 72.026 million for soybeans and 49.135 million for wheat. Subsequent postings will occur on Sept. 17, Oct. 16, Nov. 13, Dec. 13 and a final report will be posted by USDA about Jan. 15, 2014. USDA's National Ag Statistics Service will begin to incorporate the FSA certified acreage data into its October Crop Production Report but monitors the data on a weekly basis.

On a state basis, FSA data shows the following from selected states:

  • North Dakota: 2.473 million acres of prevent planting, including 1.445 million wheat, 418,046 acres of soybeans and 498,837 acres of corn.
  • Minnesota: 873,655 acres prevented planting, including 616,671 acres of corn, 203,760 acres of soybeans and 48,953 acres of wheat.
  • Iowa: 719,761 acres prevented planted, including 613,257 acres of corn and 106,350 acres of soybeans.
  • Arkansas: 608,687 acres of prevented plantings, including 156,572 acres of corn.
  • Missouri: 359,538 acres of prevented planting, including 245,420 acres of corn and 59,528 acres of soybeans.
  • Illinois: 355,402 acres as prevented planted, including 201,763 acres of corn and 113,007 acres of soybeans.
  • Wisconsin: 345,185 acres of prevented plantings, including 264,193 acres of corn and 86,647 acres of soybeans.
  • Mississippi: 322,560 acres of prevented planting, including 259,715 acres of corn and 20,973 acres of upland cotton.

Click here for the full report.

 

MIDWEST DROUGHT SPREADS, INTENSIFIES... The National Drought Monitor shows 27.18% of the Midwest is covered by some form of drought, which is up from 22.94% last week. This figure excludes Nebraska, which has seen drought intensify across the state recently. Regarding the heartland, the monitor states, "Beneficial rain improved drought conditions in southern South Dakota as well as northern Nebraska. Conversely, Iowa experienced an expansion of moderate drought (D1) and abnormal dryness (D0) in the central and eastern part of the state." Click here for more.

 

EXTENDED FORECAST RAISES RISK OF WET HARVEST... The National Weather Service forecast for September through November, if realized, signals a long, wet harvest season is ahead for the Corn Belt. The forecast calls for above-normal precip during this time across most of the Corn Belt.

On the bright side, the agency says rains would result in the removal of drought from Iowa and southeast Nebraska, although drought is expected to persist across the remainder of Nebraska and from western Kansas south and westward. Click here for related forecast maps.

 

EPA'S MCCARTHY TALKS CLIMATE CHANGE TO IOWA FARMERS... EPA Administrator Gina McCarthy is in Des Moines today at the Iowa State Fair, speaking with farmers at the Iowa Farm Environmental Awards ceremony. The event marks an early effort by the new administrator to connect with the agriculture community, in hopes of avoiding her predecessor's misstep. Former Administrator Lisa Jackson lamented earlier this year that one of her greatest regrets was not reaching out to farmers right away and heading off a sense of mistrust that left her spending a lot of time trying to quell rumors about farm dust and spilled milk regulations, among others.

"The challenges that farmers and the ag community face today -- extreme drought or extreme floods, and identifying what needs to be done to mitigate and adapt to these modern threats -- are the future challenges for our entire nation," according to McCarthy's prepared remarks. "And we know that farmers and ranchers are on the front lines of threat mitigation and adaptation, just as you have been for generations."

McCarthy said she mentions this situation "because I want to emphasize that the work to adapt to climate change, while difficult, presents us with enormous opportunities... opportunities to innovate, save money, develop new technologies and better protect the land that you work on every day... I see it in the work you're already doing. And I'm here to say that EPA stands ready to work with you. We also need your input -- we need you to tell us what's working and what isn't, and we need you to tell us where you need more flexibility from us."

 

CENTRAL, SOUTHERN PLAINS FARMLAND POSTS STRONG GAINS... According to the Federal Reserve Bank of Kansas City, the value of nonirrigated cropland rose 18.3% through the second quarter of 2013 and irrigated cropland surged 25.2% in the Central and Southern Plains. In its report, the bank says, "The expectation of weaker farm income, however, does not appear to be a main factor underpinning farmland values. In ranking factors that contribute to farmland values, more district bankers pointed to the overall wealth level of the farm sector, the current low interest rate environment and a lack of alternative investment options. Fewer bankers cited farm income expectations as a primary driver. Land-lease revenue from mineral rights was noted as a lesser factor and, while real-estate tax policies may influence the timing of farmland sales, they were not seen as a major contributor to farmland values." Click here for more from LandOwner Editor Mike Walsten.

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