Details of those three programs are provided in three farmdoc daily articles: ARC-CO (farmdoc daily,September 17, 2019), PLC (farmdoc daily,September 24, 2019), and ARC-IC (farmdoc daily,October 29, 2019). 0.3% of price/point from 2.1 5.0 However, the ability to outsource is dependent on finding a custom operator and getting the work done in optimal timing. 3.5 cents per point of moisture, per bushel, removed above 24.0%, split on half points DRYING RATES WILL BE APPLIED TO WET BUSHELS DRYING ]j0IGH#wC.Sr>82:8wN|f%E"a;D"Wt(@=X( \.q5;%z_wloyWb}AE,m/BjE&fRAM.Bv @[o|vwvf^oVku8fj6JPKjU :tP`&j*IUNlJ9&7&d0i[wISndSU{uq^r[nYOa!6F.5afU&Emv]erbxbkDJKN0ry)G-uIY)7Z2?vjvnsU|?J(-I7c!J[r=,cup,x{CE~r+/OZ3$|my7Mw)Gn@XI 7c S] ` c1`^>c ic9t{yQ ARC-IC returned to its more typical 1% enrollment level in 2021 and 2022. Several options exist for reducing non-land costs, such as previously covered tillage related costs (farmdoc daily, August 18, 2020) and this article focusing on harvest related costs. SCO is a crop insurance product providing county coverage above farm-level coverage (see farmdoc daily, February 27, 2014). "ARC-IC: Payment Examples and Revised 2019 ARC-IC Payment Calculator." &iyxuaAa[@&w,mZ2~_ns5F|>&OaBjM0ki]Qj)-6S3MVP7d\3U:>mfSWMPE>6`cd90fbA@b6n!-x LN=9g]Lzt3@W.SD;.K7Q? Increasing the ARC-CO coverage level above 86% and/or the payment cap to over the current 10% of benchmark revenue. On 1100 that would be 33 bushel X 6.50 that would be 215 -60 for 0.3% of price/point from 1.1-10.0 These rates are only intended as a guide. Long-Grain Rice: To trigger in 89% of the years, the statutory reference price would have to be above $13.00, a 50% increase over the current level. Farmers evaluating how costs may be cut in the upcoming year have several options, including reducing cash rents (see discussion in farmdoc daily, August 11, 2020). Im hearing a lot of that and Im seeing it, Litz said. But for producers in eastern Clay, Parke, and Owen counties, the mileage is perhaps double and not always easily traveled. 1Based on costs in Table 4 and harvest of 1,400 acres. The February price for all wheat, at $9.17 per bushel, is 69 cents higher than January and $3.34 higher than February 2021. Unfortunately, input costs rose dramatically this year, too, as inflation soaked the economy. The most significant appreciation in the land market in Brazil occurred in areas used for grain production, followed by sugar cane and coffee, according to the S&P Global Commodity Insights report (see Figure 1). Drying costs (on farm) usually run about $0.040 per point of moisture (per bushel). For Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Briomass Crop Budget Tool Miscanthus & Switchgrass, Illinois Soil Productivity & Yield Utilities, Farmland LEasing Facts Sheets & Pricing Information, Swanson, K., G. Schnitkey, N. Paulson, C. Zulauf, J. Coppess ", CFAP Payments to Date and Possible Future Ad Hoc Farm Payments, Department of Agricultural and Consumer Economics, Department of Agricultural, Environmental and Development Economics. 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And while interest rates for ag-lending are favorable right now, a sudden drop in crop prices could leave even the bigger farmers in the lurch. Except for soybeans, payments occurred on average in 64% of the years across all crops (see Table 1). Rubeck harbors no ill will toward the cooperative and said hes always liked their employees. Roughly 60 percent of U.S. grain is transported by truck (according to USDAs Agricultural Marketing Service), and well-functioning roadways are essential to sustaining low transportation costs and the competitiveness of U.S. grain. The lack of control of harvest timing may result in added costs such as drying or lower revenue due to yield loss, as discussed previously. The 2018 Farm Bill added the effective reference price (see farmdoc daily, June 29, 2022). The per-hour charge includes one man, vac-u-lator machine, and fuel. And then in August, farmers in west central Indiana learned that news that one of the states leading cooperatives was going to cease accepting grain at two locations. WebFor example, state average custom rates for harvesting corn and soybeans per acre increased to $41.63 and $40.18 from $39.34 and $37.29, respectively, two years ago. 1 0 obj Typically combining costs are expressed on a per acre basis and run about $30.00 per acre ($0.20/bu @150 bu/acre). A $14 reference price would be 66% higher than the current reference price. 3.5 cents per point of moisture, per bushel, removed above 24.0%, split on half points. Very low payments would be triggered if prices were just above $8.57. Each county either has 1) one yield series for All of the crop or 2) two series for non-irrigated and irrigated yields. They are not to be interpreted as the rates you must charge or pay. This represents a 27-percent decrease in outstanding <> Alternatively, other sources of returns will be needed to justify owning a combine on lower acreage farms. Raising soybeans reference price to this level would have large budgetary impacts for the next Farm Bill. Schnitkey, G., C. Zulauf, K. Swanson, J. Coppess and N. Paulson. If this is not occurring, another option may be lower cost. 3.3125%. = 28). WebCustom Trucking Freight Rates. Average December shuttle secondary railcar bids/offers (per car) were $299 above tariff for the week ending December 10. Although it is likely easier to secure trucking when hauling direct to a market, in some areas custom trucking to a farm bin site is also possible. The farmdoc economic cost estimate is set at $0.10 per bushel. The charge for use of the vac-u-lator for farm-stored grain (or grain mishaps) is $100/hour with a minimum of $200. How the Drought is Washing Out Hopes of Texas Cotton Production This Year, Indias Rice Subsidies Under Fire at WTO by U.S., Thailand, and Others, After Price Shocks, Grain Prices Fall Back to Pre-War Levels, Food Inflation Concerns Persist, 9 Charts to Analyze from the 2023 FAPRI Baseline, Farmland Partners Sells 862-Acre Arkansas Farm, Weekly National Posted Prices for Peanuts, Big Shift in American Farm Policy Farming as a Low-Carbon Energy Producer. Because average custom combining costs for corn and soybeans are nearly the same as economic costs and timing could be an issue with a custom harvester, a farm with adequate labor will generally find it cost effective to own and operate a combine. The Grain Hauling Cost Calculator was developed as a decision aid to assist Tennessee producers in estimating the cost of transporting corn, wheat, and soybeans from their farm to alternative locations. Nafziger, E. "Issues as Harvest Approaches." Storage costs are around $0.03 per bushel per month. Net wheat export sales were 0.617 mmt, up 38 percent from the previous week. Unfortunately, both locations require significant investments to maintain proper services, and there is simply not enough volume for us to be able to support that decision.. This is subject to change with market conditions. The data presented in this report was obtained by contacting producers and custom operators and thus represent actual charges. WebFLAT RATE COMBINING AND HAULING fuel 0.30 0.30 COMBINING AND HAULING CORN fuel Combining and hauling CornReported as Combination of per Acre rate, hauling, plus overage Rate per Acre Hauling per Bushel Overage Rate per Bushel Overage charged on yields over: ResponsesAverageMinimumMaximumMost Common ARC-CO accounts for 86% and 85% of soybean base acre enrollment in 2021 and 2022. Under the 2018 Farm Bill, PLC provides payments when the market year average (MYA) price is below the effective reference price, which can be above the statutory reference price. Or if a farmer is assisting a neighbor or seeking custom work, knowing their own cost of operation provides a baseline level for which to add a profit margin when setting a custom rate. Unlike some field operations which may be performed on only a portion of acres, harvest operations will cover all harvestable acres, generally all planted acres on a farm. endobj Costs (total, dollars per bushel, or custom rate equivalent in dollars per mile) can be compared between The seeds can absorb moisture overnight, so timing of harvest within a day may be important (see Nafziger, September 16, 2017). :j|vM;W=&%7A[OE]7n []k "2020 Iowa Farm Custom Rate Survey." Pacific Northwest (PNW) grain inspections decreased 31 percent from the previous week, while Mississippi Gulf inspections increased 15 percent. For example, a 2,000-acre farm could run a 540 horsepower combine at a cost of $45.80 per acre for corn or a 320 horsepower combine at a cost of $39.70 per acre for corn. We calculated the reference price needed for soybeans to match the same payment percentage for each of these program crops: In summary, based on the existing history of the PLC program, significant increases in soybeans reference price would likely need to occur before PLC performs similarly to other crops. We regret any inconvenience this decision may cause. The total cost per bushel of soybeans is projected at $8.72 for non-herbicide-tolerant beans at 56 bpa, according to the report.. Zulauf, C., G. Schnitkey, K. Swanson, N. Paulson and J. Coppess. An $8.57 reference price is 6% higher than the current $8.40 statutory reference price. Given PLCs performance, the 15% of soybean acres enrolled in PLC seems high. replacedby_title | Is Replaced By - Title, hastranslation_title | Has Translation - Title, usageconsiderations | Usage Considerations. The economic cost for combining corn and soybeans is based on ownership of a 470 horsepower combine with a 35-foot grain head and a 12-row corn head used to harvest 1,500 acres of corn and 1,000 acres of soybeans. And farmers may find the optimal order requires switching back and forth between corn and soybeans multiple times. From 2018 to 2019, combined driver wage and benefits decreased from 77.6 cents per mile to 69.3 cents per mile. Guidelines are available here. Iowa State University custom farming surveys are useful for outsourcing decisions. A farmer evaluating costs and returns may consider whether to own a combine versus outsourcing the task. This is particularly problematic for farmers who cash-rent their ground for a fixed price. 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The desirable moisture level for harvested soybeans is 13% moisture. The lowest MYA prices of $8.48 in 2018 and $8.57 in 2019 occurred during the trade war with China. The intent of the survey is to provide producers with additional information to help with their farm management decisions. Deciding to outsource one or more harvest operations in a single year will reduce fuel, labor, and repair costs for the given year, but the ownership costs will remain. More beneficial improvements likely come from changes to ARC-CO or the effective reference price mechanism. The economic costs of owning and operating a grain cart (tractor overhead included) is based on a $57,500 grain cart with 1,000-bushel capacity used on 1,900 acres. When breaking down the costs of production, the ISU Arguments are being made to increase statutory reference prices. Foreign Material All foreign material in excess of 1.0% will be deducted from gross weight and will not be paid. It is generally most cost effective in the long-run to own and operate a combine and grain cart for corn and soybeans, but important that equipment to be scaled appropriately to the farm. Transportation costs run another $0.05 per bushel (for the first 10 miles to initial storage). Web4.0 cents per point of moisture, per bushel, removed from 19.1 24.0%, split on half points. There were 1,022 grain barges unloaded in New Orleans, 13 percent higher than the previous week. hY]oF+R}zwfg? With a record demand for Chinese grain due to global weather issues and the COVID-19 quarantine, compounded by international supply chain snarls, corn prices per bushel were $5.77 at Novembers end with soybeans at $12.64. Total grain inspections were down 10 percent from the previous week, up 37 percent from last year, and up 34 percent from the 3-year average. farmdoc daily(9):173,Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign,September 17, 2019. Schnitkey, G., K. Swanson, C. Zulauf, N. Paulson and J. Coppess. However, a 5% increase would have little impact on soybeans, as the reference price would be only $8.82 per bushel. The economic cost of harvesting corn is $37.61 per acre, within $2 per acre of the custom rate average and median. To calculate the tax rate for qualifying transactions, subtract 5.00% from the sales tax rate that would normally apply at the location where the purchase is made. Custom rates survey : grain harvesting operations, Grain--Harvesting--Statistics--Periodicals, identifier-ALIS-catno | ALIS catalogue number, identifier-NEOS-catkey | NEOS catalogue key. Schnitkey, G., C. Zulauf, N. Paulson and J. Baltz. Alternatively, harvesting at moisture levels above 15% can result in added costs for drying. And people are still quitting due to the costs.. There were no non-shuttle bids/offers this week. Custom trucking is generally less challenging to hire than other harvest operations. Main Facility Monticello Peanuts: To trigger in 100% of the years, soybeans statutory reference price would have to be above $14.00, the current FSA projection for the 2022 MYA price. endstream endobj 2887 0 obj <>stream 2Based on costs in Table 4 and harvest of 1,900 acres. But this is just one more problem in whats been a complicated season across the world. endobj Absolutely, he said. Drought in this area had a large negative impact on yields. We show payments for soybeans from Price Loss Coverage (PLC) and Agriculture Risk Coverage at the county level (ARC-CO) to aid in the deliberations over the next farm bill. Included for each operation are the number of reports, range, most frequently reported rate and the average rates. MYA price estimates for 2022 are used as the marketing year is not over. New WOTUS Rule on Hold for More Than Half of U.S. All rights reserved. But with the spike in fertilizer prices this year and the increased certainty of higher costs next year, the prospect of a big capital expenditure on the grounds could be risky. 4.0 cents per point of moisture, per bushel, removed from 19.1 24.0%, split on half points. If kernels lose moisture without changing size or shape to become more dense, yield loss occurs (see Nafziger, October 3, 2003). $2.50 per bushel: Oats: $2.00 per bushel: Soybeans: $6.20 per bushel: Other Oilseeds: $10.09 per hundredweight (cwt.) Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Briomass Crop Budget Tool Miscanthus & Switchgrass, Illinois Soil Productivity & Yield Utilities, Farmland LEasing Facts Sheets & Pricing Information, Schnitkey, G., N. Paulson, C. Zulauf and J. Baltz. U.S. Class I railroads originated 27,950 grain carloads during the week ending December 5. hYmk9+,=rq>|pY7! But that simply hasnt been typical of small town U.S.A. over the years, where the trend has been moving toward farmers building their own larger storage facilities. Harvest decisions may also be dependent on requirements of a landlord or business owner. WebA typical rate is an initial charge of 9 to 16 cents per bushel for the first 3 months of storage and an additional charge of from 2 to 4 cents per bushel for each additional month. farmdoc daily(12):97,Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign,June 29, 2022. Clay County farmer and insurance agent Scot Rubeck said for him and a number of his neighbors, this will be the last growing season, and the lack of access to local grain elevators going forward is a major factor in that decision. If looking to outsource a harvest operation, consider outsourcing trucking, particularly for farms that dont have extra operators and those hauling direct to a market. However, it may be a challenge to find a low cost custom harvester in some areas and this takes control over timing out of the farmers hands. The economic costs of owning and operating a grain cart exceed even the maximum reported custom rate for corn, and are near the upper end of custom rates reported for soybeans. Moisture 1.4% shrink/point of moisture. The farmdoc daily website falls under University of Illinois copyright and intellectual property rights. From 2014 to 2023, the MYA price for soybeans has never been below $8.40 (see Figure 2). And American producers responded in kind this year, with both corn and bean production up 3 percent and 5 percent, respectively, from 2020. The decision to invest in more grain storage units on their own farms is a weighty one. ", PLC and ARC-CO for Soybeans: Payments and Perspectives, 2014 Farm Bill: The Supplemental Coverage Option, The Price Loss Coverage (PLC) Option in the 2018 Farm Bill, ARC-CO: Background, Payments, and Perspectives for Corn, ARC-IC: Payment Examples and Revised 2019 ARC-IC Payment Calculator, The Agricultural Risk Coverage County Level (ARC-CO) Option in the 2018 Farm Bill, The Case for Looking at the ARC-IC (ARC-Individual) Program Option, Effective Reference Price Past and Future, Farmland Prices in Brazil More than Doubled in the Last Three Years, Department of Agricultural and Consumer Economics, Department of Agricultural, Environmental and Development Economics. farmdoc daily(10):20,Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign,February 4, 2020. When thinking about the possibility of hiring a custom operator, there are several other factors to consider. $0.330. nonGMO beans enrolled in the nonGMO program must be delivered to contracted destination. Oats: For soybeans to have payments in 22% of the years like oats, the soybean statutory reference price would have to be above $8.57, the MYA price in 2019. Laurel Mann, corporate spokeswoman for Ceres Solutions Cooperative, said she understands many members and customers are unhappy about the decision, but ultimately its in the best interest of the members. A yield well below benchmark yields needed to occur before ARC-CO made payments. VP`7_3!Pkz[};qo(K6,P1!Hp d~ag_8]O(d9|q-e%K yL>h|%V$CnJJIo*v cY`V$X2^.(3A{|+ ef&\poep*7pw u Gw /h$Xd'D7a|8sP&T"FPwlw):Jlpxxa@EZ8dhO 0R'w[NlI/q6iC h3a8IjZOM c3 jjpA7v`e|?kA2C' Rn1_U'Gc7x6[|8I}{ZW]}7fl,1+~_QX)x,V]9FC)d3QYK(QkXyq'wF;zh 29yr_*$b$9f" In 2018 the extra charge was averaged $0.226 per bushel of grain sorghum for yields greater than 48 bushels per acre. Other grades subject to market discounts. Schnitkey, G., C. Zulauf, R. Batts, K. Swanson, J. Coppess and N. Paulson. Department of Crop Sciences, University of Illinois at Urbana-Champaign, September 16, 2017. For the week ending December 10, total inspections of grain (corn, wheat, and soybeans) for export from all major U.S. export regions totaled 3.6 million metric tons (mmt). The views or opinions expressed in this article are those of the author and may not reflect those of AGDAILY. <> The effective reference price is the maximum of the statutory reference price ($8.40 per bushel for soybeans) and 85% of the five-year Olympic average of MYA prices, lagged one year. I dont feel really good about 2022, Litz said. Rubeck said he made it a point to arrange for his land to be farmed next year by another family farmer, who may be able to pick up more ground yet as a result of this move. These high percentages can be attributed to the fact that PLC made no payments on soybeans since its inception in 2014, and expectations for the marketing year average price to remain well above the reference price at the time of enrollment for both the 2021 and 2022 crop years. "ARC-CO: Background, Payments, and Perspectives for Corn." Grain transportation costs can be divided into two categories: ownership costs, which occur regardless of how much the truck or tractor is used, and operating costs, which vary directly with the number of miles driven. Also called fixed costs, include depreciation, interest, insurance, and licenses. With crop production and prices at levels that should have had folks excited and optimistic, many in the field are still weeding through problems great and small related to the COVID-19 pandemic. Raising soybeans statutory reference price of $8.40 to levels comparable to other crops will be difficult. Farms Schnitkey, G., J. Coppess, N. Paulson, C. Zulauf and K. Swanson. Drying charges will be deducted from fall checks, or charged to your account in December, for payment in December 2022, or January 2023. To obtain the lowest costs, newer combines must be used on 1,500 acres or more per year. Thats the main reason Im renting out my ground and quitting, said Rubeck, owner of 300 acres. From 2014 to 2019, MYA prices for soybeans were below the ARC-CO benchmark price (see Figure 1). To get to the average historical payment performance of the eight other large program crops, soybeans reference price would need to increase to $10.10, an increase of 20%. Annually, Iowa State University surveys those who hire and/or perform custom farm services and compiles a report of results. In September this year, the Ag Economy Barometer, a nationwide monthly survey of producers, reported a drop of 14 points to a reading of 124, the weakest sentiment of farmers since July 2020 when it hit 118 amid the first big wave of COVID-19 quarantine measures. When spread over the same acres used to calculate farmdoc economic costs, the total average cost for custom combining is $90,650 (1,500 x $36.70 + 1,000 x $35.60). "Cost Management: Tillage Operations." And as all producers know, those figures dont include labor or other soft costs. "Cash Rents in 2020 and 2021." "The Price Loss Coverage (PLC) Option in the 2018 Farm Bill." Net corn export sales were 1.362 mmt, down 1 percent from the past week. Web1.4% per point to 15% for corn that is contracted or sold (broken on the 1/2) 1.4% per point to 15% for corn put in DP (broken on the 1/2) 1.4% per point to 14% for corn put in storage Table 1: Grain Transport Cost Indicators (xlsx) - Weekly changes in truck, rail, barge, and ocean freight rates using diesel prices, nearby secondary rail market rates, Illinois barge rates, and ocean freight rates from U.S. Gulf and PNW to Japan as proxies. Reasons for requiring PLC for the purchase of SCO are difficult to rationalize. Over 16% subject to rejection, Damage The American Transportation Research Institute (ATRI) recently released a study analyzing detailed trucking costs from 2008 to 2019. The following comparisons are relevant to farms who already own newer harvesting equipment or those who are considering a purchase while aiming to manage costs effectively. These cost estimates can be useful when performing a harvest operation for another individual. The effective reference price is the maximum of the statutory reference price ($8.40 per bushel for soybeans) and 85% of the five-year Olympic average of MYA prices, lagged one year. Here are some of ags biggest pageants, Timber fumigation plans in rural West Virginia spark backlash. Figure 3 shows three maps reporting ARC-CO payments on a per base acre basis. Besides fundamental supply and demand conditions, myriad other factors determine rates for grain hopper trucks, including basis, export market perspectives, fuel price, inventory, storage costs, back haul availability, and historical rates. Given all that, its increasingly problematic for producers under about 1,500 acres to handle the increased costs associated with trucking grain an extra 20 to 40 miles, let alone finance extensive capital improvements such as bins on their own farm, he said. Despite the drop in grain inspections, total rail deliveries of grain to U.S. ports remained strong; increasing 122 percent from last year and increasing 64 percent from the 3-year average in the last 4 weeks. Plenty Of Stormy Weather To Come With Water Issues, Georgia Peanut Commission Approves Funding For FY 2023-2024 Research Projects, Large Explosion and Fire Breaks Out at South Fork Dairy in Dimmitt, Texas Monday Night, Ag Conference in Cuba Focuses on Engagement With the Private Sector, Saving Landfill Space: Researchers Develop Washable Antimicrobial Wipes, USDA Announces $75 Million To Assist Producers Transitioning To Organic, USDA Releases Map Showing Where Beginning Farm Operations Are Located. Musty 10 cents/bushel In a letter sent to Clay City and Brazil grain customers by Ceres Solutions Cooperative CEO Jeffrey Troike dated August 12, producers were informed that: It has been determined that, due to the age and condition of our grain facilities, and also due to declining utilization, Ceres Solutions will no longer receive grain at the Clay City and Brazil locations as of December 31, 2021. Unlike all other major program crops, PLC did not trigger any payments for soybeans from 2014 to 2022, primarily because soybeans has a low statutory reference price relative to other crops. 0.6% of price/point above 5.0. For soybeans, the statutory reference price remains at $8.40 per bushel. The goal is to report what is being charged, not what should be charged. Review size of harvest machinery with acres and bushels harvested to ensure it is in line with farm size and production. The most significant appreciation in the land market in Brazil occurred in areas used for grain production, followed by sugar cane and coffee, according to the S&P Global Commodity Insights report (see Figure 1).

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