Agriculture/Agribusiness Corn prices — southern Minnesota 2013
2012
$8.00
Soybean prices — southern Minnesota
(dollars per bushel)
$7.30 $6.39
$12.00
$4.00
$12.98
$8.00
$2.00
$4.00 J
F
M
A
M
J
J
A
S
O
N
D
Source: USDA
J
F
M
A
M
J
J
$100.00
Milk prices
185 pound carcass, negotiated price, weighted average
2013
2012
$110.00
$0
A
S
O
N
D
Source: USDA
Iowa-Minnesota hog prices
Minimum prices, class I milk Dollars per hundredweight
2013
2012
$24.00
$20.01
$22.00
$87.16
$90.00
$20.00
$80.00
$18.00
$70.00 $60.00
$14.33
$16.00
$6.00
$0
2013
2012
$20.00
(dollars per bushel)
$16.00
$74.66 J
F
M
A
M
J
J
Source: USDA
A
S
O
N
D
$14.00
$18.83 J
F
M
A
M
J
J
Corn and soybean prices are for rail delivery points in Southern Minnesota. Milk prices are for Upper Midwest points.
The top products for farm exports from Minnesota are soybeans (43%), corn (23%), meat products (11%), and wheat (7%). The world population is under 7 billion people today, and is expected to reach 9 billion by 2050, meaning that the world’s farmers will have to double their food production by 2050 to feed the expected population. In addition, as economic conditions continue to improve in countries around the World, expectations for food choices and food quality are also enhanced. This is good news for the United States agriculture industry, as it is in a solid position to meet the needs. Tools like biogenetics, precision farming, technology advancements, and improved farming practices will allow farmers to continue to reach new heights for producing more food at reasonable costs, while being able to remain good stewards of the land and environment. MV Kent Thiesse is farm management analyst and vice president at MinnStar Bank, Lake Crystal. 507-381-7960); kent.thiesse@minnstarbank.com
A
S
O
N
D
Source: USDA. Based on federal milk orders. J. Malmanger
Robert W. Carlstrom Co. Inc.
www.rwcarlstrom.com | Ph: 507-625-2872
STABILITY BEYOND THE BUILDING QUALITY. LOCAL. CRAFTSMANSHIP.
General Contractors | Construction Management
Snell Motors | Mankato, MN
MN Valley Business • April 2013 • 33