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Executive Summary
KANSAS FARM MANAGEMENT ASSOCIATION … ASSOCIATION
Your Farm - Your Information … 2010
The efforts of many farm families throughout Kansas …
January 1, 2008
Swine
level Costs per unit and
net returns in swine production … 16.0 19.0 22.0 Your Farm … J. NET RETURN ON INVESTMENT
((F+11c+13+15÷Investment)1 …
Summary Book - All Counties
Kansas Farm Management Association
2013 … PROFITLINK
Summary
Kansas Farm Management Associations
www.kfma.ksu.edu … Extension Service
Kansas Farm Management Associations …
February 21, 2024
Recent Videos, Risk and Profit Online Mini-Conference Presentations
180
768
Wheat seedselite (UAvarieties)
Barley seeds(farm saved) Hybrid cornseeds (Dekalb,Syngenta,Pioneer)
Hybridsunflowerseeds(Syngenta,Pioneer)
Rapeseedseeds(Lembke,Dekalb,Pioneer)
Soybean seeds(1 replication)
Seeds, $ per 1 ton
3.4 … 5.2Elevator services, $/metric ton 10 10 9Yield (net), t/hectare 5,2 5,1 5,0Total costs, $/metric ton …
Summary Book - All Counties
Kansas Farm Management Association
2020 … Summary
Kansas Farm Management Associations
www.AgManager.info/KFMA … Extension Service
Kansas Farm Management Associations
Executive …
Annual Book
Kansas Farm Management Association
Annual
PROFITLINK
Summary
2005
Kansas … Association
Annual
PROFITLINK
Summary
2005
Kansas Farm Management Associations
www.agecon.ksu.edu/kfma
K-MAR-105 … 3
Kansas Farm Management Association 2005 …
Annual Book
Personnel............................................................................................... 3
Kansas Farm Management Association 2007 … History and Distribution of NetFarm Income … Income.................................................................. 10
--Value of Farm Production, 1980-2007 …
August 19, 2016
General Session Presentations
FSU‐12's All Grains "Net" Exports
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axes … 22 Avg. Farm Price ($/Bu) 1/ $4.89 $3.50 …
June 14, 2018
Grain Market Outlook
h market reflects buyers' hunger for high‐protein wheat after two consecutive low‐protein harvests that
averaged 11.5 percent or less. Flour millers and exporters largely spurned the 2016 and 2017 HRW wheat harvests,
seeking alternate supplies from outside of Texas, Oklahoma and Kansas. ……. Early returns from the 2018 harvest
have been encouraging. Protein levels in HRW wheat samples from Oklahoma and southern Kansas have averaged
13 percent, according to weekly data from Plains Grains Inc., a trade group that conducts a wheat quality survey,
and the Kansas Wheat Commission.”
Consequently, the lower yields occurring during early harvest 2018 in these central and southern plains
states are being partially offset income‐wise by higher protein wheat. On a net income per acre basis, farmers
are still likely to be worse off financially, as the higher price received for higher protein content HRW wheat
does not compensate enough for the lower yield to sell on a per acre basis.
C. Key World Wheat Supply‐Demand Results in the June 12th USDA WASDE Report
For the “new crop” 2018/19 marketing year (MY) beginning on June 1, 2018, the USDA projected the
following (Figures 13 through 15b, Tables 2 through 9):
World wheat total supplies in “new crop” MY 2018/19 would be a record high 1,017.1 million metric tons
(mmt) accompanied by record high total use of 750.9 mmt – up 0.1% and 1.0%, respectively, from “old crop”
MY 2017/18. The USDA in essence projects that the recent “large supply – large use” situation that has
persisted since the last “supply‐demand” period in MY 2012/13 will continue (Figure 13). Concerns about
2018‐2019 wheat crop production prospects in the Black Sea Region, Australia, and the U.S. could bring lower
production and supplies – possibly causing World wheat supply‐demand balances to decline in upcoming
WASDE reports. However, if these World wheat production reductions do NOT occur, then the current World
wheat oversupply and associated low price situation is likely to persist.
CommentaryKSU: These aggregate World supply and use numbers do NOT bring light to the shortage of
high protein wheat that exists in World markets, OR the sizable wheat stocks held by China that are isolated
from the World wheat market.
World wheat exports will also be a new record high 187.3 mmt in the “new crop” 2018/19 marketing year
– up from a 182.8 mmt in “old crop” MY 2017/18, the previous record high of 183.3 mmt in MY 2016/17, and
from 172.8 mmt in MY 2015/16 (Figure 13, Table 3). While World wheat exports are forecast to increase by
12.9% since MY 2013/14 (i.e., 1 year after the short crop year of MY 2012/13), United States’ wheat exports
are projected to decline by 19.2% from 1.176 billion bushels to 950 million bushels (mb) in “new crop” MY
2018/19. CommentaryKSU: This lack of growth in U.S. exports relative to foreign export competitors raises
questions about whether the U.S. should focus more on HRW wheat protein and quality characteristics to
differentiate it’s exportable wheat product. Also, a strengthening in the U.S. dollar exchange rate relative to
export competitors with weak currency exchange rates continues to be a negative factor limiting the
competitive affordability of U.S. wheat exports in World markets.
World wheat ending stocks are projected to be 266.2 mmt in “new crop” MY 2018/19 – the 2nd highest on
record following the high of 272.4 mmt in “old crop” MY 2017/18 (Figure 13, Table 8). World wheat ending
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stocks have been growing an average of 14.7 mmt per marketing year from the low of 177.9 mmt in MY
2012/13, out‐pacing the annual growth in total use of 10.6 mmt per marketing year – leading to growth in
ending stocks.
World wheat percent ending stocks‐to‐use (S/U) are forecast to be 35.45% in “new crop” MY 2018/19 ‐ the
2nd highest on record (Figures 14a‐b, Table 9). The record was 36.65% in “old crop” MY 2017/18. World
wheat % stocks‐to‐use consistently increased each year from 25.89% in the short crop MY 2012/13 to current
levels of 36.65% S/U in “old crop” MY 2017/18, and the USDA projection of 35.45% in “new crop” MY 2018/19.
CommentaryKSU: These results provide evidence that pace of growth in World wheat supplies has been
faster than growth in total use since MY 2012/13 – leading to the current World oversupply situation and lack
of sales opportunities and weaker prices for wheat of average protein and quality characteristics.
D. “World‐Less‐China” Wheat Supply‐Demand & the “China Supply Isolation” Factor
The broader “large crop‐over supply‐low price” situation in the World wheat market may be “obscuring”
some important underlying market issues – particularly in regards to the “masking” effect of Chinese wheat
stocks on available World wheat supplies and stocks.
Total supplies and % ending stocks‐to‐use of wheat in World markets is projected to grow to record levels
– with World wheat ending stocks‐to‐use of 35.45% in “new crop” MY 2018/19 (Figures 13 thru 14b, Table 8).
However, from a “World‐Less‐China” perspective, forecast ending stocks‐to‐use of 20.2% would be the lowest
level in 11 years (Table 9, Figures 15a‐b). “World‐Less‐China” wheat ending stocks‐to‐use would be down
sharply from 23.2% in “old crop” MY 2017/18, and from the range of 22.05% to 27.5% during the MY 2008/09
– MY 2017/18 period.
IF this “China supply isolation factor” eventually leads to noticeably tighter available global supplies of
purchasable wheat for buyers to gain access to in coming months, it could have a significant positive impact on
U.S. and World wheat market prices in “new crop” MY 2018/19. However, unless there is this change in the
broader, overriding focus of the World wheat market AWAY FROM aggregate global supplies over TO available
“World‐Less‐China” supplies the attention of the World wheat market may not change in this direction.
E. U.S. Wheat Supply/Demand for “New Crop” MY 2018/19 …
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Kansas Farm Management Association
2020 … Central
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Kansas Farm Management Associations
www.AgManager.info/KFMA … Extension Service
Kansas Farm Management Associations
Executive …