Tag Archives: thursday
Farmland Value Continues To Go Up
Updated: Thursday, October 3 2013, 05:44 PM CDT DAVENPORT, IA (CBS 2/FOX 28) — The value of cropland across the state of Iowa continues to be on the rise, but slowing a bit. The Land Trends and Value Survey, presented by the Iowa Farm and Land Chapter #2 REALTORS Land Institute, reported a statewide average increase of cropland values of 10.6% for the year from September 1, 2012 to September 1, 2013. This follows an average increase of 18.5% for the year from September 2011 to September 2012; and an average increase of 32.6% for the year from September 2010 to September 2011. Overall, the strong upward movement in land prices has leveled out even though we have seen growth in values over the past six months especially in the East Central District, which covers much of the local market area. “Clearly the decrease in commodity prices and the potential for highly variable yields are slowing the increases in land value especially in medium to lower quality farms,” said Eric Schlutz, Realtor with Ruhl Farm&Land and Muscatine Manager for Ruhl&Ruhl REALTORS. The survey also attributed the current land values to an increase in long-term interest rates, 2013 growing conditions, a lack of stable alternative investments, large amounts of cash on hand and the limited amount of land on the market. For the survey, participants are asked to estimate the average value of farmland as of September 1, 2013. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information. Seven of the nine Iowa crop reporting districts showed an increase in the last 6 months. For local experts, the survey results were not surprising, said Dennis Stolk, Realtor with Ruhl&Ruhl REALTORS. “The best strength in the land market continues to be in the high quality, all tillable parcels, with some easing of the growth in values of the lesser quality parcels, as well as recreation land,” Stolk said. “Future direction of land values will be highly dependent on commodity prices for corn, soybeans, hogs and cattle, as well as interest rates and the general overall economic trend. “We are positioned in eastern Iowa and western Illinois to see good stable land values and do not anticipate a drastic movement downward or upward.” Ruhl Farm&Land, a division of Ruhl&Ruhl REALTORS, is focused on the sale, purchase and marketing of land, farms and acreages. Read More at: http://www.cbs2iowa.com/news/features/top-stories/stories/farm-land-value-continues-go-up-22831.shtml Continue reading
Biotricity To Turn Straw To Energy In Irelands First Biomass Power Plant
Published on Thursday, 19 September 2013 The straw feedstock will be procured with the help of the Irish Farmers Association Ireland’s first renewable biomass electricity plant is set to convert straw into electricity starting 2015. Irish renewable company Biotricity Ltd. is set to begin construction on their 16 megawatt Rhode, Co. Offaly biomass plant in the Irish midlands. Plant testing and commissioning is set for the end of 2015 with full scale generation scheduled to start in 2016. Rhode has qualified for the Renewable Feed in Tariff 3 program which provides a government backed 15-year renewable energy supply contract. Biotricity has signed a memorandum of understanding with the Irish Farmers’ Association for the procurement of the straw feedstock that will be used at Rhode. The biomass electricity plant will consume just over 90,000 tons of straw per annum. By the terms of the M.O.U., the I.F.A. will cover the purchase and management of needed straw feedstock. “The linkages between farming and the production of renewable energy are becoming clearer and include the opportunities for farmers to develop sustainable business relationships with the energy sector that provide incomes for farmers plus energy security and low carbon power for Ireland, “ said John Bryan, I.F.A. President. Rhode’s straw requirements will deliver approximately $9.35 million in revenue annually to its farmer suppliers. Biotricity will commence initial purchases of straw during 2014 for plant testing and commissioning purposes with full purchasing commencing in 2015. “This is an Irish success story. 80 percent of the project cost will be paid out to Irish engineering companies, with approximately $18 million per annum going into the local economy to include salaries, straw and other solid biofuels for drying,” said Biotricity chief executive officer, Declan Kennedy. Construction of the plant will generate around 200 jobs with 44 jobs continuing during operations, plus an additional 19 jobs in logistical support. – EcoSeed Staff Continue reading
Preparing For Thursday’s USDA Reports
Stu Ellis, FarmGate Blog September 9, 2013 USDA’s September series of crop reports will be released at 11 am central on Thursday, Sept. 12. These include the Crop Production Report and the World Agricultural Supply and Demand Estimates (WASDE) Report. Both are highly anticipated by the market and are expected to further clarify the size of the corn and soybean crop. The trade will get a much better handle on the size of the soybean crop because many soybean field sampled by USDA crop enumerators in August were not setting pods yet. Nearly all fields will be somewhere between the pod-setting phase and harvest at this time and yield numbers will be better determined. The market has been projecting its pre-report estimates during the past week and those estimates follow. Corn USDA last sampled cornfields at the first of August, and here is what enumerators found: USDA’s August estimate was a 154.4 bu./A yield with a total crop at 13.763 bil. bu. USDA projected harvested acres at 89.1 mil. In August USDA forecast 2012-13 carryout of 719 mil. bu. and 1.837 bil. bu. for the 2013-14 marketing year surplus. Globally, USDA projected surplus of 123.11 mmt for 2012-13 and 150.17 mmt for 2013-14. 1) The average trade estimate for the US corn yield is 153.7 bu./A, with harvested acreage at 88.6 and total corn production of 13.620 bil. bu. The trade estimate for 2012-13 corn carryout is 718 mil. bu. The market expects 2013-2014 domestic ending stocks to be 1.732 bil. bu. The trade is also estimating global corn carryout of 122.8 mmt for the 2012-13 crop; and global carryout for the new crop is expected by traders to be 146.9 mmt. 2) Informa Economics forecasts a corn yield of 157.2 bu./A, down from its estimate of 158.6 bu. in Aug. with total production at 14.013 bil. bu., down from 14.14 bil. in Aug. Although, unsaid, the use of USDA’s August numbers for expected demand for the new crop leaves a carryout over 2.0 bil. 3) FC Stone is projecting a 2013 corn yield of 156.4 bu./A with total crop of 13.942 bil. bu. 4) Lanworth is projecting a 13.320 bil. bu. corn crop, based on 151.6 bu./A Soybeans When USDA last surveyed soybeans the first of August, here is what enumerators found: USDA’s August projection was 42.6 bu./A and a 3.255 bil. bu. total crop. USDA had projected harvested acreage at 76.4 mil. acres. Ending stocks were forecast at 125 mil. bu. for the 2012-13 crop and 220 mil. bu. for the 2013-14 crop. Globally, USDA had projected old crop carryout at 62.2 mmt and new crop carryout at 72.3 mmt. 1) The average estimate from the market is a 41.2 bu./A national yield, with harvested acreage at 76.2 mil. and a total crop of 3.14 bil. bu. The trade is also expecting tight carryout of 123 mil. for the 2012-13 crop and 165 mil. for the 2013-14 crop. The average guess for the market is for a global carryout of 61.7 mmt for the old crop and 71.2 mmt for the new crop. 2) Informa Economics projects a 42.4 bu./A national yield, producing a 3.239 bil. bu. national crop. Informa is also forecasting only 74 mil. acres planted to soybeans. Using USDA’s August projections for demand, Informa’s estimates would result in a 205 mil. bu. new crop carryout. 3) FC Stone is forecasting a 3.146 bil. bu soybean crop, based on yields of 41.2 bu./A. 4) Lanworth projects 2013-14 soybean production of 3.114 bil. bu., based on 40.4 bu./A. Continue reading
