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Features
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Speaker examines 2002 Farm Bill
[FEB.
27, 2003]
URBANA -- A
nationally-known agricultural economist will deliver the inaugural
lecture in agricultural policy established by the Leonard and Lila
Gardner/Illinois Farm Bureau Family of Companies Chair in
Agricultural Policy. "The 2002 Farm Act: Boon or Boondoggle?" will
be presented by Bruce Gardner at 4 p.m. on Monday, March 3, in the
Monsanto Room of the University of Illinois College of Agricultural,
Consumer and Environmental Science's Library, Information, and
Alumni Center.
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Gardner, who is a distinguished
university professor and chair in the Agricultural and Resource
Economics Department at the University of Maryland, is a former
president of the American Agricultural Economics Association and
received the group's Distinguished Policy Contribution Award in
1994. He also served as USDA assistant secretary for economics from
1989 to 1991. Gardner is not related to Leonard and Lila Gardner.
After earning his undergraduate degree
at the U of I in 1964, Gardner received his Ph.D. in economics from
the University of Chicago. He is the author of numerous books and
articles, including "American Agriculture in the Twentieth Century:
How it Flourished and What it Cost," published in 2002 by Harvard
University Press.
The lecture
is free and open to the public.
[University of Illinois news
release] |
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Weekly
outlook
Price
patterns
[FEB.
25, 2003]
URBANA -- A pattern of
shifting production expectations, magnified by current small
inventories, could lead to more volatile prices for corn and
soybeans over the next six months, said a University of Illinois
Extension marketing specialist.
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"The attitude about 2003 corn and
soybean production prospects has recently shifted from concern about
extensive dryness to expectations of improved moisture conditions,
expanded corn acreage and large crops in 2003," said Darrel Good.
Good's comments came as he reviewed
corn and soybean price patterns. During the first half of the
2002-03 marketing year, these prices were in a relatively narrow
trading range. Some additional and more detailed observations can
now be made about the price patterns of old and new crop corn and
soybean prices to date.
Since Sept. 1, 2002, the average spot
cash price of corn in central Illinois has had a trading range of
$0.565 per bushel. That figure is within the trading range
experienced over the previous 29 years, although at the low end of
the historical range. The smallest trading range was $0.445, in
1990-91, and the trading range was 60 cents or less in seven other
years, most recently 2000-01.
"Both the high price ($2.785) and the
low price ($2.22) to date are the highest since 1996-97 but are well
within the experience of the previous 29 years," said Good. "The one
unusual feature of the price pattern so far is that the post-harvest
low occurred in January. A post-harvest low occurred in January only
one other time in the previous 29 years (1979-80)."
The December 2003 corn futures contract
has a life-of-contract high of $2.69 and a life-of-contract low of
$2.35, for a trading range of 34 cents. Since 1973, the December
futures contract has not had a trading range of less than 54 cents
and has had a range of less than 70 cents only six times, most
recently for the 1994 contract. The high price to date ($2.35) is at
the low end of historical experience. Since 1973, the contract high
was less than $2.75 only in 1986 and 1987 ($2.3525 and $2.16,
respectively).
"The low price to date ($2.35) is at
the high end of historical experience," said Good. "Since 1973, the
contract low for December futures was $2.35 or more only seven
times, most recently for the 1995 contract."
Based only on historical patterns, it
might be expected that the average central Illinois spot cash price
of corn would establish a new low before Aug. 31, 2003.
[to top of second column in
this article]
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"On the other hand, December 2003
futures might be expected to establish a new high and a new low
before maturity in mid-December," said Good. "Such a development
could likely be generated only by significant swings in weather and
crop prospects."
Since Sept. 1, 2002, the average spot
cash price of soybeans in central Illinois has been between $5.895
and $5.01. The range of 88½ cents is at the low end of ranges
experienced since 1973-74. The smallest range was 61½ cents in
1985-86, followed by 91½ cents in 1991-92. Recently, the smallest
range was $1.055 in 2000-01. Both the highest cash price and lowest
cash price to date are well within the historical range but at the
highest level since 1997-98.
The November 2003 soybean futures
contract has a life-of-contract high of $5.43 and a life-of-contract
low of $4.53. The trading range of 90 cents is the smallest of the
past 30 years. The previous smallest range was 91¼ cents for the
1986 contract, followed by $1.16¾ for the 1995 contract. Since 1996,
the range has varied from $1.62½ in 2002 to $2.40 in 1996.
The life-of-contract high to date
($5.43) is the lowest experienced in modern history (post-1973). The
previous low was $5.565 for the 1986 contract, followed by $5.91 for
the 2002 contract. The contract high for November futures has been
lower every year since 1996. The life-of-contract low to date
($4.53) is well within the historical range but is the highest since
1997.
"Again, based on historical patterns
alone, it might be expected that the average central Illinois spot
cash price of soybeans would have an expanded trading range prior to
Aug. 31, 2003," said Good. "Similarly, it might be expected that
November 2003 soybean futures would have an expanded trading range
prior to contract maturity in mid-November.
"History
does not provide much insight on which direction the range might be
expanded, except that the life-of-contract high to date for November
2003 futures is extremely low, even factoring in the influence of
South American production. An expanded trading range for soybean
prices could be generated by a number of factors, but the most
likely factor will be 2003 U.S. crop prospects."
[University
of Illinois news release]
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Extension announces March programs
By John Fulton
[FEB.
24, 2003]
Dr. Gary Schnitkey,
University of Illinois specialist, will present a program on
"Federal Crop Insurance Decision Making" on March 4 at the Logan
County Extension office. The program will begin at 7:30 a.m. and
last until 9:30 a.m. Information will be provided on various Federal
Crop Insurance program options and how to use decision-making tools
to select the products that best fit your needs and your operation.
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Contact the Extension office at (217)
732-8289 to make a reservation, and you will receive more detailed
information about the program.
[photos courtesy of John Fulton]
Soybean cyst nematode clinic
In order to help producers determine
levels of infestation with soybean cyst nematode, a soil evaluation
clinic is scheduled for March 5 from 9 to 11 a.m. at the Extension
office. The clinic will focus on soil analysis of samples brought in
by clientele.
Producers may submit up to two samples
for free analysis. Additional samples will cost $5 each. Samples
should be taken like soil fertility samples: depth of 6-7 inches,
subsamples pulled from field, and enough final sample to fill half
of a small lunch bag. If you are unsure of how to break down fields,
I would recommend that you submit samples for areas that you are
willing to manage separately. This means acreage blocks that you are
willing to plant resistant varieties on.
Please feel free to contact the
Extension office at 732-8289 with any questions that you might have.
[to top of second column in
this article]
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Certification for private pesticide applicators
Logan County has now completed its
second and final clinic for the year for private pesticide
applicators. Those still needing to attend a clinic have just a few
options left for this year:
Feb. 25 -- Tazewell County, ICC Lecture
Hall, 1 p.m.; training and testing
Feb. 26 -- Cass County, St. Luke Hall,
1 p.m.; training and testing
March 4 -- Macon County, Extension
office, 6 p.m.; training and testing
March 7 -- Menard County, Extension
office, 10 a.m.; testing only
March 10 -- DeWitt County, Farmer City,
6 p.m.; training and testing
The only
other option is to make an appointment, drive to Springfield and
take the exam at the Illinois Department of Agriculture. Call
(217)785-2427 for an appointment. The last word was that they were
backed up about a month on appointments.
[John
Fulton]
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Logan County sets bean
yield record
[FEB.
18, 2003]
It's official once again
with the release of county yields for corn and soybeans by the
Illinois/US Crop Reporting Service. Logan County had a county
average soybean yield of 52 bushels per acre, besting the previous
high by a bushel and a half per acre (set in 1994). In a year
highlighted by spotty moisture and high heat levels, the Logan
County average corn yield was 154 bushels per acre. The record corn
yield, set in 1994, still stands at 181.
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The top yielding county in the state
for both corn and soybean averages was Carroll County, with an
average corn yield of 179 bushels per acre and an average soybean
yield of 57 bushels per acre. Other counties with high corn yields
were Rock Island with 176, Mercer and Warren with 175, Knox with
170, and Henry with 169. Other counties with high soybean yields
were Champaign and McLean with 54; Henry, JoDaviess, Rock Island,
and Woodford with 53; and Logan, DeWitt, Iroquois, Piatt, Stark,
Tazewell and Warren with 52.
The top producing counties, in terms of
bushels, were McLean County for soybeans with 16,259,400 bushels of
soybeans and Iroquois County with 49,027,400 bushels of corn. Logan
County production was 8,320,000 bushels of soybeans and 28,043,400
bushels of corn.
The Logan County five-year average
yields are 155 for corn and 49 bushels for soybeans. These figures
are averages from 1998 to 2002.
[to top of second column in
this article]
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Following is a table of yields in 2002
from Logan and surrounding counties:
County |
2002 corn yield (bu/A) |
2002 soybean
yield (bu/A) |
Logan |
154 |
52 |
Sangamon |
153 |
51 |
Menard |
155 |
48 |
Mason |
140 |
47 |
Tazewell |
151 |
52 |
McLean |
145 |
54 |
DeWitt |
134 |
52 |
Macon |
134 |
49 |
Christian |
140 |
49 |
State average |
136 |
43 |
This has been another in a series of
unusual years. Late rains really helped soybean yields, while corn
was already shutting down when the rains came in August. The most
deciding factors in corn yields were the lack of rainfall during
July and the very high temperatures experienced from July through
early August.
[John
Fulton]
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Honors
& Awards
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Ag
Announcements
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Agriculture
scholarships available
[JAN.
27, 2003]
The Lincoln/Logan County
Chamber of Commerce will award two scholarships to high school
seniors or college students from Logan County who are studying or
will study agriculture for future careers in ag-related businesses.
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Scholarship winners will be chosen
based on their commitment to agriculture as a future career,
academic performance, involvement in extracurricular activities,
financial need and work experience. The committee is particularly
interested in candidates who will return to the Logan County area to
pursue their careers.
Applications are available from the
Lincoln/Logan County Chamber of Commerce -- (217) 735-2385;
303 S. Kickapoo St., Lincoln, IL 62656 -- or at any high school in
Logan County.
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Completed
applications are due to the Lincoln/Logan County Chamber office in
Lincoln by Friday, Feb. 28. Applications will be reviewed soon
afterward, and winners will be notified of their award. Winners will
be recognized at the Logan County Ag Day breakfast on Wednesday,
March 19.
[News release]
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