More than four in ten rural bankers expect the economy to dip back into a recession in 2011 according to a Creighton University poll. “There is too much uncertainty (coming from Washington). Businesses do not like to take financial risks in uncertain times,” responded Frank Sullentrop of Legacy Bank.

The overall Rural Mainstreet Index (RMI) slipped to 46.0 this month, according the August survey of bank CEOs in a 10-state region. The RMI decreased to a four-month low and is below growth neutral 50.0 for the second consecutive month after ... << MORE >>

Corn, cotton and grain sorghum condition all have the same percentages good and excellent as last week. Soybeans improved by two percentage points.

Winter wheat harvest is almost complete with only 5% to go—a few percentage points more than average. Spring wheat harvest is lagging slightly, at 53% versus normal 60%.

Corn is ahead of normal, with 88% in dough stage versus 74% average; 54% dented versus 37% average and mature, 8% versus 6% average.

Soybean ... << MORE >>

(Asia Times) China's growing appetite for African resources over the last decade is well documented. Indeed, China's massive industrial machine relies on oil from Angola, Sudan, and Nigeria, and minerals from South Africa, Zambia, and Liberia. While China maintains that its trade relationship with Africa is benign, some commentators see China's investment as a resource grab. In 2006, South African president Thabo Mbeki was notably frank when he warned that Africa could fall into a "colonial relationship" with China, leaving Africa "condemned to underdevelopment".

The latest iteration of the Sino-African ... << MORE >>

This picture was taken just this week in southeastern Wisconsin. The corn and soybeans are maturing very nicely in that region as you can see that the corn has finished pollinating. When corn matures and is ready to get pollinated, each kernel will have a strand of silk connected to it that stems out of the top of the husk. The silk is initially white in color. Once pollen falls from the tassel and hits the silk, it is transported to the kernel and it then becomes pollinated. Once the kernel is pollinated, silk will turn black and die, as shown in this picture.

Remember, we are always looking for more agricultural pictures from anywhere in the world. Submit pictures to farmlandforecast@colvin-co.com.

WEST LAFAYETTE, Ind. - Farmland values have risen higher than expected throughout the state over the past year, according to a new Purdue University report.

The 2010 "Indiana Farmland Value and Cash Rent Survey" showed that land values increased between 4.5 percent and 6.3 percent statewide. Top-quality farmland values averaged $5,310 per acre, while average-quality farmland was valued at $4,419 per acre and poor-quality land averaged $3,501 per acre.

"What we found in the report this year is that land values increased sharply ... << MORE >>

Chicago, Illinois
September 20, 2010

Colvin & Co. LLC cordially invites you to attend the Farmland Outlook for 2010 and Beyond conference on September 20, 2010 at The Allerton Hotel in Chicago, Illinois. The conference is an exclusive event, open to the public at no cost.

Topic:

The conference will address the world’s growing demand for grains and the developing agriculture boom over the next decade. Rapid population and economic growth in emerging markets has driven the country’s insatiable ... << MORE >>

(Bloomberg) Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer, rejected an unsolicited $39 billion takeover proposal from BHP Billiton Ltd. as too low, prompting speculation of a higher bid. Potash Corp. turned down the $130-a-share offer, saying it was “grossly inadequate,” and adopted a so-called shareholder rights plan as a defense. Potash Corp. jumped as high as C$151.08 ($146.18) in Toronto trading and competitors rallied on expectation the industry will consolidate.

A bid had been awaited after potash prices fell from a record last year, prompting speculation that ... << MORE >>

This afternoon, the USDA released its weekly crop progress report. The corn crop condition deteriorated since last week, but remains close to the historical average. The soybean crop condition remained unchanged compared to last week’s report. Both corn and soybeans are continuing to mature at an accelerated rate. The USDA estimated 69% of the corn crop is in good or excellent condition, while 11% is in poor or very poor condition. Last week 71% was in good or excellent condition, and 10% was in poor or very poor condition. During this week in 2009, 68% of the crop ... << MORE >>

(Farm & Ranch) Farmland real estate values increased by 3.8 percent during the past year, according to a report released by the North Dakota field office of the USDA’s National Ag Statistics Service (NASS). This increase brought the average value of farmland in the state to $810 per acre, with the average cropland value pegged at $820 per acre, an increase of 2.5 percent from 2009 and pasture land at $370, a 5.7 percent increase.

According to the NASS report, farmland values in the state have continually increased for the ... << MORE >>

This picture was submitted by Murna, and it is of the Pomeroy Wind Project in Pocahontas County Iowa. When this project was built, only about 1/2 acre of tillable land was taken out of production to make way for each turbine. The Pomeroy Wind Project consists of 171 1.5 Megawatt turbines that are located just East of the city of Fonda. Wind turbines can provide additional income for land owners, as turbines often only take up a small amount of land. Land owners can receive $2,000 to $5,000 per year from a turbine on their property. Read more about wind energy in a recent article from Farmland Forecast (http://farmlandforecast.colvin-co.com/2009/11/19/understanding-renewable-energy-wind-energy.aspx).

Remember, we are always looking for more agricultural pictures from anywhere in the world. Submit pictures to farmlandforecast@colvin-co.com.