News Briefs

Toll-Free MGE Hotline Gives Daily Market Analysis
Here’s a number to put in your cell phone memory: 1-800-827-4746. It’s the Minneapolis Grain Exchange trader commentary hotline. Call anytime of day, and you’ll hear the recorded voice of an actual grain trader with a timely analysis of the markets. The line is updated daily after the market close, no later than 2:30 p.m. Central Time.

Stove Uses Low Quality Grain As Furnace Fuel
With rising fuel costs and winter around the corner, Northwest Manufacturing of Red Lake Falls, Minn. is seeing a lot of interest in a new outdoor furnace it makes which burns alternative fuel sources – including scabby grain, beet pulp, sunflowers, corn, soybeans, and paper pellets.  The annual cost of heating a 2,000 sq-ft home with the company’s WoodMaster Plus outdoor furnace fueled by corn is about $500 per year, compared to natural gas which would cost about $1,100, and with electricity, over $2,100.  The outdoor furnace connects easily into a homeowner’s existing heating system.  For more information, call 1-800-932-3629, email sdlarson@woodmaster.com , or on the web: www.woodmaster.com

Pulse Crop Marketing Info
The NDSU Extension Pulse Crop Marketing Guide (EC-1277, Dec 2004) can be found online as a PDF at www.ag.ndsu.nodak.edu/aginfo/cropmkt/pubs.htm.  Pea and lentil marketing information can also be found on the North Dakota Dry Pea & Lentil web site: www.ndpealentil.org

New LDP Form Streamlines Application Process
The USDA Commodity Credit Corporation (CCC) has announced the new loan deficiency payment (LDP) application – form CCC-633 EZ LDP Agreement – meant to streamline the LDP application process.

The LDP Agreement must be completed prior to the loss of beneficial interest (title, control and risk of loss) of the grain. It may be completed any time after acreage reports are filed for all farms in which the producer has a crop interest. Each individual producer or entity must complete a separate
Agreement form. Joint producer Agreements are not permitted.

Previously filed CCC-709 Field Direct LDP applications are valid for the 2005 crop year. However, all producers are encouraged to complete the new CCC-633 EZ LDP Agreement in order to maintain eligibility for 2005 crop LDPs.

See details about the new form online at ftp://ftp.fsa.usda.gov/public/notices/LP_1997.pdf Additional information about the new application and other LDP requirements are available at local FSA county offices.

Several years ago, the NDSU Extension Service published a bulletin (EC-1214) that compared LDP rates among several locations in the state; identified patterns for developing marketing strategies; and evaluated the implications of LDP rates on marketing strategies for crops commonly grown in N.D.  It can be found online at www.ag.ndsu.nodak.edu/aginfo/cropmkt/docs/EC-1214.pdf or, request bulletin EC-1214 from your local county extension office.

Canola Price Risk Management
The NDSU Extension bulletin Price Risk Management for Canola Producers in the Northern Plains (EB-75, Nov. 2000) can be found online as PDF or in HTML at http://www.ag.ndsu.nodak.edu/aginfo/cropmkt/pubs.htm (under publications, scroll down) Canola cash prices and LDPs can also be found under the Growers Information link of the Northern Canola Growers Association web site, www.northerncanola.com. 

USDA Online Commodity Briefings
In-depth statistics and reports on various ag topics and commodities, including corn, soybeans, and wheat. Covers market outlook, supply/use, world outlook, cost and returns data. www.ers.usda.gov/briefing.

Winter Wheat Variety Info Online
North Dakota State University hard red winter wheat Variety Trial Results for 2004 and Selection Guide for ’05 planting can be found online at www.ext.nodak.edu/extpubs/plantsci/smgrains/a1196w.htm.  Recommended seeding dates for winter wheat are Sept. 10-30 south of N.D. Hwy 200 and Sept. 1-15 in northern regions.

South Dakota State University winter wheat variety information can be found online at http://plantsci.sdstate.edu/varietytrials/vartrial.html.

2005 USDA Crop Reports
Grab a pen and write the following potentially market-moving USDA crop reports on your 2005 calendar.

Sept. 12: Crop production and supply & demand estimates

Sept. 30: Grain stocks report, Small grains summary

Oct. 12: Crop production and supply & demand estimates

Nov. 10: Crop production and supply & demand estimates

Dec. 9:  Crop production and supply & demand estimates