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Over the last ten crop years, net crop insurance payments per insured acre varied by a factor of 10 times across program crops even when expressed relative to total economic cost of production. Not taking net crop insurance payments into account raises the possibility that the farm safety net of crop insurance and commodity programs may support more than the economic cost of producing a crop, thus potentially putting upon upward pressure on production costs and stimulating production.
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Since the inception of the modern crop insurance performance program, Illinois and the Midwest have had relatively low loss ratios compared to other areas of the country. This result holds…
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Brazilian farmers are expected to harvest 4,561 million bushels of corn in the 2023/24 season, including the country’s first, second, and third crops. That total would be 12% less than last year’s record harvest, according to Conab, but would still will be the second-largest crop Brazil has ever produced. The expected reduction in total corn production is mainly attributed to smaller acreage and lower yields in the second crop, which accounts for about 75% of the national production.
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Based on the June 30 crop condition report, total U.S. soybean production is estimated to be 4.4 billion bushels with a range from 4.3 billion to 4.6 billion bushels. The national soybean yield is estimated to be 51.9 bu/ac with a range from 50.1 to 53.7 bu/ac. However, it is still early in the growing season, so readers should expect changes to the estimates as the season progresses and perhaps even significant changes depending on the amount of rain received over the growing season.
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Climate Smart Agriculture is a promising paradigm for addressing environmental challenges by increasing productivity, enhancing resilience, and reducing emissions. However, the definition and assessment of CSA practices lack standardization, hindering their widespread adoption and effective implementation. A consistent, widely applicable, and standardized framework for assessing CSA will facilitate informed decision-making, improve resource allocation, and enhance stakeholder collaboration.
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This farmdoc daily article is not an exhaustive examination, but sizable demand for capital intensive projects in the transportation, energy, supply chain, and artificial intelligence sectors; a declining US saving rate; and cooling in international investor demand for US Federal Debt suggest that, even if inflation declines to the Federal Reserve’s target rate of 2%, US interest rates may need to remain high to supply current and near future US demand for capital.
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In recent months, corn and soybean prices have trended lower, leading to questions about longer-run prices. Recent price patterns suggest that 2021 through 2023 was a transitory period of higher…
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