Hold On To Your Hats Folks

[dustoffer]

I was at our local Co-Op today picking up feeder batteries and just happened to ask about the price of corn. I was staggered when the guy said "It just hit $8.99." That is up $1.49 since I paid $7.50 on March 13--a 20% increase. Heard on "Down On The Farm" on the way home corn was up another 2 cents today--don't know if that is per pound or per bushel, but it isn't over.

Guy on the radio said it was due to the Chinese communists doing all the buying.

[RJK70]

I had heard rumors of this but figured it wasn’t true. Hopefully this isn’t sustainable


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[SaltwaterSlick]

It's all part of the plan... Thank you Joe Biteme and Camel-Toe...

[flywise]

Did the great freeze have anything to do with it?

Life is much better only buying 5-10 bags a year

[lilavidhunter]

Filled our protein feeders 2 weeks ago and didn’t feed corn. Maybe it will run some of the pigs off. That’s all that was eating the corn anyway.

[wellingtontx]

Beijing Biden shipping increased amounts to China. In fact the weekend after he was sworn in, China through a USDA approval, made a huge corn purchase. China is forecasted to import 130-150% more corn this year.

China corn imports:
2020-21 17.5 mil tons (anticipated)
2019-20. 7.6
2018-19 4.48

Argentina, the worlds third largest corn exporter, has also limited corn exports in 2021 - also driving price up.

Corn prices anticipated to continue to increase throughout 2021. Buy now and stockpile if you can.

[HoustonHunter94]

Why are the Chi-coms buying up corn?

[dclifton]

You think thats bad look at Fertilizer prices.

[wellingtontx]

Why are the Chi-coms buying up corn?

Surge in animal feed demand, China drought, domestic shortage and depletion of Chi-Com governmental stockpiles.



China will be the World's number one importer of corn.....Biden unleashed the US floodgates on exportation and in turn driving up our own domestic prices. Which will drive up cattle, hog, etc. prices.

Thanks Biden for the inflation-----which he will blame on Trump no doubt.

[Rotney]

May also have to do with Bill gates buying thousands of acres of farmland

Back in January, US magazine The Land Report revealed that Bill and Melinda Gates have amassed the largest portfolio of private farmland in the US, comprising an estimated 242,000 acres.

[Ryan C]

This is along the same lines as oil prices. It's good for the American farmer same as high oil prices are good for the oil industry. I'm not certain but this could be the result of Trump's negotiations with China to even out our trade deficit, could be wrong. Again, it helps support American farmer with less government subsidies. Even though there is no corn grown in our area, it's still good for our business. When corn prices go up, feed lots will switch over to wheat, which helps our local wheat farmers and all of the local industry associated with it.

[N.DaWoods]

Farm subsidies are usually the culprit.

[hoythunter02]

We paid 7.50 a bag at Mummes last week. Cottonseed was 13.50 a bag....made for a larger feed bill than usual.

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[Landrover]

With the sheer number of folks moving into the Chinese middle class the demand for beef is OFF the charts. Pork is a mainstay in China as is poultry. Today for lunch my daughter and I had KOBE beef (Japanese) and the price had gone up substantially from 3 weeks ago. It was delicious however!

This is along the same lines as oil prices. It's good for the American farmer same as high oil prices are good for the oil industry. I'm not certain but this could be the result of Trump's negotiations with China to even out our trade deficit, could be wrong. Again, it helps support American farmer with less government subsidies. Even though there is no corn grown in our area, it's still good for our business. When corn prices go up, feed lots will switch over to wheat, which helps our local wheat farmers and all of the local industry associated with it.

yep, farmers in the heartland struggled mightily with the system over the last few years. All things are cyclical in huge industries like O&G, pharma, and BIG ag.

May also have to do with Bill gates buying thousands of acres of farmland

Back in January, US magazine The Land Report revealed that Bill and Melinda Gates have amassed the largest portfolio of private farmland in the US, comprising an estimated 242,000 acres.

I saw the article on line but I think the acreage overall was triple that number. Maybe it was with the international farm land they have purchased included. Very interesting article as they are looking to innovate farming to the point that shortages are a thing of the past across the globe. Also, combining biotech with agriculture on a level far beyond what it has been for the last 20 or so years. This was talked about in the 80's in college, during my career with BASF in Ag Chemicals and during my years in human health (pharma & biotech).......looks like we are technically able to move into that realm. Students going into AG professions are going to be WORLD changers.

Farm subsidies are usually the culprit.

Yes, and bad legislation that put grain farmers in a bind based on traditional markets.

[West Feeds]

Unfortunately, a large majority of the increase in feed prices is being driven by Chinese demand: https://www.cobank.com/corporate/new...ctors-recovery

This is also before the winter storm and all the problems it caused throughout the agricultural sector.

We sincerely apologize to those that have seen our feed prices rise. Please know, we are not happy with it at all. Raising prices is the last thing we want to do!