Podcast Summary
Illinois corn yields, upcoming cooler weather: Despite average crop conditions and declining commodity prices, optimism persists in central Illinois due to good corn yields and upcoming cooler weather, which could benefit crops.
Despite declining commodity prices and average crop conditions in the Midwest, there's optimism in central Illinois due to good corn yields and upcoming cooler weather. The University of Illinois recently purchased the Illinois Grand Champion from the C.N.E. Group in Chicago. Megan Dwyer, Director of Stewardship and Conservation for the Illinois Corn Growers Association, joined the show to discuss stewardship practices in Illinois. The wheat yields in Pika were recognized with the winner being Wendell Good. The agricultural community is gathering at Purdue University in Lafayette, Indiana, for an annual meeting of land-grant universities. The cooler weather forecast for next week is also being closely watched.
Illinois Corn PCM Program: Illinois Corn's PCM Program is a farmer-led initiative promoting conservation practices, improving economic returns, and attracting corporate support for sustainable farming.
Illinois Corn's Precision Conservation Management Program (PCM) is a farmer-led, economically sustainable initiative focusing on conservation practices like tillage, cover crops, and nutrient management. The program, which started in 2015, aims to improve both economic returns and environmental benefits for farmers. Every year, Illinois Corn publishes a report showcasing aggregated data from participating farmers. The PCM program is not limited to waterway conservation but rather puts conservation on working lands. Consumer packaged goods companies, such as PepsiCo, Kellogg's, and Walmart, are increasingly interested in sustainability and are financially supporting farmers to achieve their conservation goals. The PCM program's economic and environmental focus is resonating with these companies, making it an essential resource for farmers and corporations alike.
Illinois Corn Expansion: Illinois Corn is expanding PCM program, focusing on demand, conservation, and sustainability, and collaborating with partners to engage farmers and cover 22 million acres.
The PCM program, currently active in Illinois, Kentucky, and Nebraska, is expanding and exploring opportunities for state and federal support. Illinois Corn is also focusing on building demand for corn, ensuring markets domestically and internationally, and prioritizing conservation and sustainability efforts in line with the Illinois nutrient loss reduction strategy. Illinois Corn is working with various partners to cover the vast 22 million acres of cropland and engage the over 70,000 farmers in the state. Recently, Illinois Corn took a group of peers and colleagues to Southern Louisiana to see the impact of nutrient loss on the environment and local communities, with the intention of sharing this knowledge with farmers, consumers, and legislators in Illinois.
Illinois Corn Growers Association, Soil Health: Illinois Corn Growers Association promotes new membership, advocates for farmers' priorities, encourages soil health practices despite economic challenges, and collaborates with other groups to tackle nutrient loss and innovate solutions.
The Illinois Corn Growers Association invites new members to join their organization and advocates for the priorities of Illinois corn farmers in both political and consumer spheres. Farmers are encouraged to try new practices for soil health and resiliency, despite economic challenges. The Association, along with other agricultural groups, is committed to addressing nutrient loss and finding innovative solutions to make progress. Listeners interested in agriculture are welcome to get involved and support these efforts. Kent Beals from Paradigm Futures also joined the conversation to discuss commodities markets.
Upper Midwest crop progress: Farmers in the Upper Midwest are making progress with their crops, but face challenges such as the need for more heat units and rain for corn, excess moisture for soybeans, and the threat of early frost. Weather and markets remain important factors to monitor.
The crop progress in the upper Midwest is moving along, but farmers there are facing some challenges. The corn is pollinated and setting ears, but needs more heat units and rain to fill the ears. An early frost could be damaging. Soybean plants are setting pods, but some areas have been impacted by excess moisture, which could negatively impact yields. Sugar beets are within a few weeks of harvest, and growers are optimistic about good yields. Weather in Minnesota and the Dakotas has recently seen some rainfall. The grain markets had another rough week, with corn and soybeans experiencing significant losses, while wheat markets fared slightly better. Overall, farmers in the upper Midwest are dealing with both progress and challenges in their crops, and will need to monitor weather and markets closely in the coming weeks.
USDA report and corn prices: The USDA report showed an increase in corn yield and decrease in stocks, but prices dropped due to anticipation of next week's crop tour and unsustainably low prices for farmers
That despite the USDA report showing an increase in corn yield and a decrease in old and new crop ending stocks, the corn trade was disappointing and prices trended lower in anticipation of next week's crop tour. Corn and soybean prices are currently unsustainably low for farmers but represent a bargain for end users. Farmers are expected to sell their old crop quickly and new crop production may be stored due to low prices and carrying charges. Meanwhile, Paradigm Futures' Ken Beals welcomed Wendell Goode from Pecan, Illinois, the winner of Illinois wheat yields, to the show. Wendell shared insights about his farming career and operation in Tazewell County.
Wheat in central Illinois: Adding wheat to a central Illinois farm's rotation can lead to successful harvests, increased revenue, and profitability, even with disease issues and excess rain, due to good yields, assistance from organizations, and double crop bean benefits.
Adding wheat to a farm's rotation, particularly in central Illinois, can lead to successful harvests and increased revenue. The speaker's farm, which is around 350 acres, has seen good results with corn, beans, and wheat. Last year, they entered a wheat variety in a contest and achieved a yield of 137 bushels per acre. Despite some disease issues caused by excess rain, the use of fungicide helped the crop hold up well. The Illinois Wheat Association provided valuable assistance in ensuring the necessary paperwork was completed. The speaker encourages other central Illinois growers to consider planting wheat on erodible land with slopes, as it helps hold the soil in place and can provide a good double crop bean yield, making it profitable and revenue-matching with corn on a per-acre basis.
Wheat farming in Illinois: Joining the Illinois Wheat Growers Association can help farmers in central Illinois start wheat farming, with benefits including soil conservation, potential profits, and participation in the commodity market. Careful attention is required during wheat growth, including applying fungicide to prevent headscab and ensuring proper fertility.
The Illinois Wheat Growers Association, based in Bloomington, Illinois, is an organization that encourages farmers, particularly those in central Illinois, to join and grow wheat. Megan at the headquarters has been instrumental in helping new members get started. Growing wheat requires careful attention, such as applying fungicide to prevent headscab during flowering time and ensuring proper fertility. Central Illinois farmers are encouraged to join and try growing wheat for soil conservation, potential profits, and as part of the commodity market. In other commodity market news, corn, soybean, sweet, and cattle futures all saw decreases, while fruit oil and Dow Jones indices also experienced losses. To learn more about the Illinois Wheat Growers Association and wheat farming, tune in to our podcast or catch us on YouTube.