Winter Wheat Production Report and Solar Energy Rentals of Farmland
From the Ag Information Network, this is your Agribusiness Update.
**U.S. farmers are expected to produce 1.28 billion bushels of winter wheat this year, up 2% from last year, according to the Crop Production Report from USDA’s National Ag Statistics Service.
As of May 1, the U.S. yield is expected to average 50.7 bushels per acre, UP by 0.1 from last year.
Hard Red Winter Wheat is forecast to be UP 1%, Soft Red DOWN 23%, and White UP 16%.
**Solar energy is gaining traction across the country, and Farm Journal says it’s surprising how much solar companies pay farmers to lease their ground.
A Purdue University Ag Economy Barometer survey of farmers shows the majority are being offered more than $1,000 per acre for solar leasing, which could drive up the price of future cash rentals.
19% of those surveyed said they’ve been approached and had discussions with the companies.
**The U.S. Grains Council recently organized marketing conferences promoting U.S. corn fermented protein and dried distillers grains in South Korea and Taiwan.
Both countries are already important trade partners for U.S. ag but still have significant opportunities for growth in CFP and DDGS exports.
USGC Taiwan Director Michael Lu says Taiwanese importers and U.S. producers enjoy a relationship resulting in billions of dollars in sales each year.
Opportunities continue developing in South Korea.
