Incognito:
I got this off my Weekly April 17 News e-mail from the Red River Network.
http://www.rrfn.com/html/news.cfm
"LDP's -- The latest totals from the Farm Service Agency show nearly $353 million has been paid to farmers in corn LDP's. More than 875 million bushels has received an average LDP of 40 cents a bushel.
That's a far cry from the previous year, when more than 9.6 billion bushels of corn were LDP'ed for more than $2.6 billion. Wheat LDP's total more than $2.9 million and soybeans a little over $1 million. The average LDP for wheat is 17 cents. For soybeans, the LDP average was five cents."
Is it any wonder that they took off the duty?
More news from the Red River Network:
"Brazil Down -- Brazilian consultant Agroconsult has lowered its soybean crop estimate to 53.5 million metric tons. That's a drop of almost two million tons from last month and more than two million tons below the official Brazilian government estimate of 55.7 million tons. USDA's current estimate is 57 million.
Brazil Debt -- Mato Grosso Governor Blairo Maggi is calling for a unified effort to reduce soybean, corn and cotton acres in the next crop cycle by 20 to 30 percent. Minnesota native Kory Melby has relocated to Brazil and his blog http://brazil.studyintl.com/korymelby.htm offers insight into the Brazilian market. Melby says Brazil's breakeven cost for soybeans is now 68 bushels per acre. The Brazilian government has announced a debt restructuring plan, but repeated delays has one local farm organization telling farmers not to make their debt payments."
I got this off my Weekly April 17 News e-mail from the Red River Network.
http://www.rrfn.com/html/news.cfm
"LDP's -- The latest totals from the Farm Service Agency show nearly $353 million has been paid to farmers in corn LDP's. More than 875 million bushels has received an average LDP of 40 cents a bushel.
That's a far cry from the previous year, when more than 9.6 billion bushels of corn were LDP'ed for more than $2.6 billion. Wheat LDP's total more than $2.9 million and soybeans a little over $1 million. The average LDP for wheat is 17 cents. For soybeans, the LDP average was five cents."
Is it any wonder that they took off the duty?
More news from the Red River Network:
"Brazil Down -- Brazilian consultant Agroconsult has lowered its soybean crop estimate to 53.5 million metric tons. That's a drop of almost two million tons from last month and more than two million tons below the official Brazilian government estimate of 55.7 million tons. USDA's current estimate is 57 million.
Brazil Debt -- Mato Grosso Governor Blairo Maggi is calling for a unified effort to reduce soybean, corn and cotton acres in the next crop cycle by 20 to 30 percent. Minnesota native Kory Melby has relocated to Brazil and his blog http://brazil.studyintl.com/korymelby.htm offers insight into the Brazilian market. Melby says Brazil's breakeven cost for soybeans is now 68 bushels per acre. The Brazilian government has announced a debt restructuring plan, but repeated delays has one local farm organization telling farmers not to make their debt payments."