In The News

Apr 8, 2024

Author: Krista Swanson

Motor gasoline use is expected to decline in the future even under a baseline case, but new tailpipe emissions rules really put the pedal to the metal – rapidly accelerating that process. This would be a major shock on demand for corn used to produce ethanol spurring potentially devastating impacts on farmers and the rural economy.       The New Tailpipe Emissions Rule The Environmental Protection Agency recently released its final rule for multi-pollutant emissions standards for model years 2027 and later light-duty and medium-duty vehicles with heavy reliance on the use of electric vehicles. The ruling dictates that sales of non-electric vehicles will drop from over 92% of new vehicle sales in 2023[i] to under 30% of new vehicle sales in 2032. In the EPA central scenario, that translates to a 6.9-billion-gallon reduction in motor gasoline use in 2032, a 5.7% decline from the baseline projection for that year. Motor gasoline use is expected to decline in the baseline, but...

Feb 16, 2024

Key Issues: Production

Author: Krista Swanson

USDA released the Grains and Oilseeds Outlook this week providing an initial look at the 2024/25 marketing year projections that include lower production, greater domestic use, increased exports, and higher ending stocks as compared to the current 2023/24 market years. The following is a summary and some additional context for five projections from the latest outlook.   Yield Corn yield is projected at 181 bushels per acre. Yield projections depend on the modeling approach and time series used. While a 3.7 bushel per acre increase over the 2023 record 177.3 bushels per acre may seem like a stretch, a regression on annual yields from 2023 to several different historical points including 1934, 1980, and 1996 all predict 2024 yields within about one bushel of the USDA projection.   Trendline yields are a reasonable expectation at this point. Adverse weather is generally thought to have a negative impact on yields but in 2023 a record yield was achieved in a year with widespread...

Feb 9, 2024

Key Issues: Trade

Author: Krista Swanson

A combination of climate, conflict, and currency values are factors in cost competitiveness that impacts transits and overall U.S. corn exports.   Climate Climate conditions brought widespread drought to the United States Corn Belt in 2023. Dry conditions in the Mississippi River basin led to record low water levels. As a result, barge weight and traffic restrictions were imposed, and the 7.7 million tons of corn moved by barge on the Mississippi River in 2023 was 30% lower than 2022 and 54% lower than 2021. Ultimately, the cost of added time and weight restrictions were factors contributing to a higher corn price at port but also meant pace of getting grain to the port was slowed.   Climate-induced waterway challenges for U.S. corn don’t end at the Gulf. Extreme drought has forced substantial scaleback of shipping through the Panama Canal, a key global maritime channel. The Panama Canal Authority (ACP) has reduced traffic to 24 ships a day, about two-thirds of the normal...

Dec 1, 2023

Key Issues: TradeTransportation and Infrastructure

Author: Krista Swanson

For the second year in a row, drought conditions are impacting transportation on the Mississippi River at the peak shipment point of the year. Shallower river levels mean barge weight restrictions, slower barge traffic, and higher costs to ship commodities on the river. Ultimately, this translates to a relatively lower price at the farmgate and higher cost for the world buyer.   Drought Slows Grain Barge Traffic in 2022 and 2023 The Mississippi River is an important channel for commodity transportation. The USDA reports the final mode of transport was barge for 13% of U.S. grains in 2020, and 46% of exported U.S. grains[i]. There are normally two peaks in grain barge movements, one in late summer leading up to the end of the marketing year for corn and soybeans, and the other emerging in the fall harvest season and into the post-harvest months.   The impact of low water levels on grain barge movements was notable in 2023, marking the second consecutive year of drought...

Jun 16, 2022

Author: Neil Caskey

The National Corn Growers Association’s Corn Board has elected Harold Wolle to become the organization's next first vice president for the new fiscal year, which begins October 1, 2022.   Wolle grows corn and soybeans on his farm in Madelia, Minnesota, with his son, Matt.    “I’m honored to serve America’s corn farmers as an NCGA officer,” said Wolle. “With all the unfinished business we have in Washington right now on ethanol, trade and farm policy, it’s a critical time for our industry. Expectations of what we need to get done are high, and October can’t get here soon enough for me. I look forward to partnering with corn farmers on all these issues we must tackle as part of the NCGA team.”   Wolle currently chairs the NCGA’s Finance Committee. Prior to that, Harold served as president of the Minnesota Corn Growers Association and chairman of the Watonwan Farm Service/Central Farm Service Coop Board.   You can learn more about Wolle Read More

Feb 15, 2022

Author: Neil Caskey

If the events of 2020 felt like a rollercoaster ridden too soon after lunch, then 2021 was more of a Ferris wheel that steadily ascended through the summer as corn prices recovered and gradually descended as the pandemic began to impose its will on our economy.    To that end, this report highlights what went down in 2021 while also looking ahead at where we’re going in 2022.    Click here for the 2021 Annual Report.

Sep 7, 2021

Author: Neil Caskey

The Corn Board recently confirmed Kelly Harsh of Ohio as its newest director. Kelly grows corn and soybeans on her family operation in Delaware, Ohio.   Kelly will serve a one-year term on the Corn Board, a position that opened up when Dennis McNinch resigned his seat to spend more time with his family and on his farm.   “I’ve thoroughly enjoyed my time on the board, but the demands of the farm have forced me to focus my attention on it right now. I’ve served with Kelly and know she’ll be an outstanding addition to the board,” said McNinch.   A Certified Public Accountant and crop insurance agent, she is the current president of the Ohio Corn and Wheat Growers Association. Kelly also serves on the NCGA Ethanol Action Team, among other things.   “I am humbled and honored that the NCGA Corn Board has appointed me to serve on the board,” said Harsh. “I look forward to working hard to advance an industry that works hard to provide food, fiber and fuel for the...

Aug 12, 2021

Author: Neil Caskey

Lovers of all things corn, baseball and America are in for a real treat tonight when the Chicago White Sox play the New York Yankees in the MLB at Field of Dreams game presented by GEICO. The game will be played at a newly constructed ballpark adjacent to the Field of Dreams movie site in Dyersville, Iowa and broadcast nationally on FOX.    “This is the first time two professional sports franchises will play a game in a field of corn. This is a big stage, and America’s corn farmers will be proud of how America’s crop will be portrayed tonight,” said NCGA President John Linder, a corn farmer from Ohio.    NCGA’s partnership of this event is made possible through the generous support of the Illinois Corn Marketing Board (ICMB)and the Iowa Corn Promotion Board (ICPB). Tune in to your local FOX affiliate at 6:00 pm CDT to watch it.   

Jun 3, 2021

Key Issues: Farm Policy

Author: Neil Caskey

U.S. House Agriculture Committee Chairman David Scott (D-GA) sent a letter yesterday to President Biden expressing his concerns to proposed changes in tax policy that would eliminate the stepped-up basis provisions used by farmers. The letter resulted from a conversation Chairman Scott had with the Corn Board last month on taxes and other priorities.    “We appreciate Chairman Scott’s leadership on preserving the stepped-up basis protections in the tax code for America’s corn farmers and stand ready to help him defend our farms and families from harmful taxation,” said NCGA President John Linder.    

Jun 2, 2021

Author: Neil Caskey

Last month, Major League Baseball (MLB) announced that the National Corn Growers Association is an official partner of MLB at Field of Dreams presented by GEICO. The game will be played at a newly constructed ballpark adjacent to the Field of Dreams movie site in Dyersville, Iowa on Thursday, August 12th and will be broadcast nationally on FOX.   Want to go to the game? Join the corn growers by July 8, 2021, and you’ll be entered into a random drawing to win two tickets to see MLB at Field of Dreams presented by GEICO between the New York YankeesTM and the Chicago White SoxTM on August 12th, 2021 in Dyersville, Iowa. Click here for official contest rules.    NO PURCHASE NECESSARY TO ENTER OR WIN.  Void where prohibited. Restrictions apply; see NCGA.com for details. Sponsor: The National Corn Growers Association.