Farmers step up to the plate

Matt Hartwig
August 12, 2008
Farmers in the US have faced obstacles of historic proportions this
year as flooding rain threatened to severely hamper crop production in
the American Midwest. Critics sought to capitalize on this
misfortune, adding insult to injury for an element of nature
completely out of their control. Fortunately, American farmers
ignored these attacks and calmly and responsibly went about their
business. The fruits of their labor are now becoming apparent.
In the US Department of Agriculture (USDA) August 2008 World
Agriculture Supply and Demand Estimates (WASDE), a clear picture of
the resiliency and productivity of American farmers emerges.
According to the WASDE report:
• Corn yields are expected, on average, to reach 155 bushels per acre,
the second highest average yield in history. These impressive yields
are expected to produce nearly 12.3 billion bushels of corn, the
second largest crop in history. As a result, corn supplies are
expected to be higher than anticipated, providing enough corn for all
users.
• Wheat farmers in the US and around the globe are also responding. In
the US, wheat production is expected to be the largest in 10 years and
20% higher than 2007. Wheat stocks, by extension, are expected to rise
88% from last year, providing enough wheat for all users. Globally,
wheat production is expected to set a record at 670.8 million tons, up
10% from last year.
While the resiliency of American farmers is extraordinary, the
response to growing demand for grains by the rest of the world’s
farmers is equally worth noting. Globally, total grain production is
expected to well exceed 2 billion metric tons, increasing 3.5% over
last year and 9.3% from two years ago. This record production is also
expected to lead to grain ending stocks that are 6% larger than last
year.
Markets for these commodities have recognized farmers’ abilities to
overcome adversity. Since highs in June, corn futures prices have
fallen 35%, and cash bids today are offered at well below $5 a bushel
in many locations. Likewise, wheat prices have spent the majority of
the year falling. Since a peak in March, wheat prices are down 37%.
The bottom line: World agriculture is more than capable of fulfilling
its traditional role as food and feed providers, while also
contributing significantly to a renewable, sustainable energy future.
Our nation’s energy crisis will not solve itself. It will require bold
action and thoughtful collaboration. Together with American farmers,
America’s ethanol industry stands ready to play its role in reducing
America’s dependence on foreign oil. After all, our energy future must
begin at home.
http://www.goodfuels.org/2008/08/farmers-step-up-to-the-plate/
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