2016 Iowa Farmland Values

The average Iowa farmland value in 2016 decreased to about $7,183/acre according to the 2016 Iowa State University Farmland Survey. The average value of farmland in Iowa has been declining since it hit $8,710/acre in 2013, and it is down 5.9% from last year.

U.S. Biodiesel Industry Update

Biodiesel production in the United States in 2015 reached a volume of 1.263 billion gallons, declining 1.2% from the 2014 level (1.278 billion gallons) (see Figure 1). Production from January to September 2016 was up 19.7% to 1.128 billion gallons compared with the same period the previous year (0.943 billion gallons).

Daily Ethanol Prices Analysis

We have done an analysis to understand the relationship among monthly average ethanol prices versus ethanol ending stocks, corn prices, and gasoline prices. The major finding was that all of three predictors, i.e., ethanol ending stocks, corn prices, and gasoline prices, have statistically significant influences on monthly average ethanol prices.

Actuarial Performance of Crop Insurance Premiums

Carl Zulauf and Gary Schnitkey recently published a brief research paper in Farmdoc Daily (FDD) in which they studied the loss ratio of all major insured crops and then individually for each of the four crops. These crops included corn, soybeans, cotton and wheat. Given the national variability in weather, crop insurance purchase patterns (plan,…

Estimated 2016 ARC-CO Payments Using NASS Yield Data

The recently released NASS harvested yields can be used to estimate the 2016 Agriculture Risk Coverage (ARC) payments planned for payment in the fall. These estimates will likely vary from the final Farm Service Agency (FSA) yields used to calculate the actual payments this fall and should only be used as approximations.

U.S. Agricultural Trade with Mexico

In 2016, Mexico was the third largest value market for U.S. agricultural products, after China and Canada. The 2016 value of U.S. agricultural exports to Mexico was up 0.8% to $17.9 billion from 2015, but down 7.9% compared with the record value in 2014 ($19.5 billion).

Is the problem on the rails or in the rails?

I was reading a Reuters Media article dated March 15, 2017 entitled “New, safer U.S. rail cars gather dust even as ethanol trains grow longer”. The article referred to the recent spill of ethanol from a unit train derailment in northwest Iowa.