Gary Wright, Farm Management Specialist
Seems that before we visit market updates, a pause (in between Memorial Day and July 4) is worthy to reflect and properly remember.
Between 2006 and 2021, 18,571 active U.S. military personnel lost their lives in combat, serving their country. Between 2013 and 2017, veterans and service members represented 8.6 (270K) of the 3.1 M persons working or trained in agriculture.
Rural veterans represent a disproportionate (and declining) share of the men and women who return home after serving; Military veterans and service members choosing a career in agriculture/food industry approximate 46 percent of the total; and Iowa veterans totaled slightly greater than 200K in August, 2020:
8.6 percent of adult population
4.2 percent are unemployed
6.2 percent live in poverty
Veterans in Agriculture (https://veteransinagriculture.org/) is an Iowa-based organization assisting military veterans. It teams with ISU Extension and Outreach, ISU Beginning Farmer Center, USDA, FCS/A and others to help vets, returning to civilian life, many of whom aspire to farm or whom are interested/fully engaged in ag and food production careers. The organization’s mission is to help equip military vets with skills, training, and experience.
Recently, Veterans in Agriculture was one of 17 recipients of a new federal grant, USDA Enhancing Agricultural Opportunities for Military Veterans.
The grant supports a three-year project called “Connecting Veterans to Agri-Food System Opportunities (AgVets).” More info available at https://www.extension.iastate.edu/news/preparing-iowa-veterans-careers- food-and-agriculture or https://www.usda.gov/our-agency/initiatives/veterans.
Expert-led workshops took place in March, with all of them being online and recorded, including: Grain Marketing, Livestock Risks, Beginning Farmers, Conservation, and Farm structures. More opportunities are also being planned, including hands-on opportunities, apprenticeships, and/or mentors. Veterans who want more information can contact ISU Extension and Outreach, myself (Gary Wright, 712-223-1574 or gdwright@iastate.edu) or Beth Grabau, Executive Director, Veterans in Agriculture. Quick Market Update: As we enjoy the two largest outdoor cooking events annually, meat consumption, which is highly dependent upon price interrelationships, economic health, and ethanol, has shown a per capita increase (264 pounds, 2015-19). Remember, it remains that 40 percent of the corn and 60 percent of the soybean domestic production is used in feed consumption.
Notwithstanding technical and charts, and continued very strong export demand, most experts say our grain is largely reflecting a weather market. For the week leading to Memorial Day, as an example, two days saw 40 cent swings (one up and one down) – but for the week, corn finished down 3 cents; beans finished up 4 cents. Very narrow corn and soybean old crop supplies allow any news to cause larger swings, and its likely to be repeated over the next 60 days. Except for Northwest Iowa and the Northern Plains, many received up to 2 inches of rain in the last 10-14 days, though the forecast (as I write this) is generally dry (north), causing the drought monitor to adjust south and east again. Additionally, the South America 2021 soybean crop is in the bin; however, dryer weather seems to project a reduction to the Safrinha (second crop) harvest. The next major information will be the USDA grain stocks and planted acres reports (Jun 30).
Is there a place to use Ag Decion Maker (https://www.extension.iastate.edu/agdm/) and make some future delivery price or near-term basis sales, consistent with the costs of your operation and balance sheet risks? Please give me a call (712-223-1574), if you need assistance using this online decision tool.
Farmland Leasing Meetings: One final note – please plan to attend our annual Farmland Leasing Meetings in early-August. A total off 11 meetings are scheduled in Northwest Iowa, and like the past, we’ll focus upon: land values and rates, including computing a lease; the lease business contract, including a flex lease, lease terminations, etc.; the tenant / landowner communications; and other ISU Extension and Outreach economic expertise and tools during these tumultuous times. Visit your local ISU Extension and Outreach county website for more details (www.extension.iastate.edu/countyname).
Again, Thank you Veterans! Happy July 4th!