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Monthly Panhandle Crop Reports
November 2013 Report (PDF, 317K)
Ag producers need up-to-date information about local cash markets to make informed marketing decisions. Monthly Panhandle Crop Reports, compiled by the Panhandle Research and Extension Center, are a simple way to access area cash prices.
This report includes local data for corn, wheat, proso millet, pinto beans and great northern beans and state average price data for sorghum and alfalfa, using data from local elevators, the Kansas City Board of Trade, the Chicago Board of Trade and NASS Nebraska Field Office.
Corn and wheat reports include monthly average local elevator prices, respective futures prices and resulting basis. The remaining crops will report monthly average cash prices. Each commodity section will also report the previous 10 years of data. This historical data will allow producers to view area monthly price trends as well as view the 5 year and 10 year price average for each month.
With corn harvest wrapping up across the panhandle, it is time to implement post-harvest marketing plans. Cash prices are important to watch, but other factors -- particularly basis and carrying charges -- can provide market insight and help make sell or store decisions through the winter. Just as prices change on a daily basis, so do basis and carrying charge. Watching the markets and evaluating these market signals can help producers make sound marketing decisions for their operations.
A shortage of quality dry edible beans in the Panhandle has contributed to higher prices for all varieties of beans through the fall. However, rising prices this time of year are not the norm. A recent report by University of Nebraska-Lincoln economists outlined price pattern shifts for area commodities, including dry edible beans.
Two time periods were analyzed, 1985/86 through 2006/07 and 2007/08 through 2012/13, for pinto and great northern varieties. The study noted that there have been small changes in annual bean price patterns.
Combines rolling through Panhandle corn fields are a signal that it is time once again to consider how to best market your corn crop. For producers who have available storage space, timing the sale of the crop is pivotal to maximizing profitability.
Understanding the market’s seasonal price patterns is important to marketing any crop. A recent report by University of Nebraska-Lincoln economists outlined price pattern shifts for area commodities including corn. This study analyzed two time periods, 1985/86-2006/07 and 2007/08-2012/13. It noted that corn price patterns are relatively the same over the two periods, but corn prices have been higher and more volatile during the more recent period.
Farmland values increased in the Panhandle over the last year, but not as much as they did statewide. The Institute of Agriculture and Natural Resources’ Agricultural Economics Department released the Nebraska Farm Real Estate Market Highlights report in late June, publishing the results of the annual Nebraska Farm Real Estate Survey. Farmland values increased across the state by an average of 25 percent in 2013, to $3,040 per acre. However, in the Panhandle, the average land value increased 13 percent from 2012 to 2013, to $715 per acre.
Updated Panhandle historical crop price report for 2013
Extension has issued the annual update to its report on crop prices in the Panhandle:
The report is useful as a marketing tool for agricultural producers, according to Jessica Johnson, Extension Educator in agricultural economics, one of three authors of this year’s update. The others are Extension Educators Tom Holman and Matt Stockton, ag economist at the UNL West Central Research and Extension Center at North Platte.
The report provides a basic price analysis for significant crops in the Panhandle to help growers and others make the best possible marketing and production decisions. It lists historical crop prices and seasonal patterns for corn, wheat, proso millet, sorghum, alfalfa hay, and dry edible beans. For corn and wheat, which are traded on futures commodity markets, the report also compares local cash prices to national futures prices to establish local basis.
Depending on the crop, the prices are collected from local elevators and monthly USDA reports. Corn futures are reported by the Chicago Board of Trade and wheat futures are from the Kansas City Board of Trade.
It has been posted on the UNL Panhandle Research and Extension Center’s web site. Either browse to the Panhandle Center home page at panhandle.unl.edu and click on a link to the report.
The report also can be obtained by calling Johnson at 308-632-1247, or email her at email@example.com.
Agricultural Economics – Asst. Extension Educator
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