Crop planting by U.S. farmers continued at a brisk clip last week even though some activities were interrupted by rain – at least some of which was very welcome, reports the CME Group’s Steve Meyer and Len Steiner. USDA’s weekly Crop Progress report showed that 53% of the nation’s corn acres were planted as of April 29. That figure compares to 27% at the same time last year and an average of 27% over the past 5 years....More

March will go down in the weather history books as the warmest in the last 50 years and among the top five warmest ever. Spring-like temperatures have warmed the soil and encouraged farmers to fill the planters and start rolling. However, meteorologists warn that much of the nation’s breadbasket is not yet past the time when freezing temperatures are possible. What’s more, they predict the severe weather that has already pummeled parts of the country will only get worse....More

Corn futures rose for the first time this week on speculation that dry weather in Argentina and Brazil damaged crops. Soybeans fell as rain this week may boost yields in South America. Global inventories of both crops will fall before the harvests in the Northern Hemisphere.  Argentina is the world’s second-biggest corn exporter, and Brazil is forecast to be the top soybean shipper this year, according to USDA....More

As ethanol expansion continues, beef producers will be forced to become better managers in order to stay in business. That’s the message delivered by a Kansas State University economist Ted Schroeder during the recent Range Beef Cow Symposium in Mitchell, NE. In 2011, an estimated 40% of the U.S. corn crop was diverted to the production of ethanol. With more and more corn going into ethanol, producers are faced with growing feed costs, higher land values, and less revenue from what they produce....More