Once again, every quote on the CME Group soybean board was below $10; not a good sign for farmers eager to catch some sort of rally to make some early-season sales. March futures hit $10.60 in early January, but closed down about $1 below that at $9.61 on Friday....More
In the five agriculture stories to read this week, read how higher-protein soybeans could fetch a premium and use an online simulator to calculate crop insurance premiums. Check out some FAQs on base acre reallocation in the farm bill and see where land values are estimated to be in 2015. Finally, watch Bill Gates talk about his position on GMOs. It may enlighten you.
How do your production costs look for the year ahead? Iowa State University just released its 2015 crop-production estimates, and I hope your figures look better than these guidelines. That won’t be easy, I’m afraid, but then actual costs can vary greatly....More
The Jan. 12 Grain Stocks report from USDA estimated corn stocks up 7% and soybean stocks up 17% from the December 2013 report. Bushels stored on farm are also up over a year ago, for both corn and soybeans....More
Soybean futures ended 2014 on a whimper, down close to 20¢ per bushel across the board. The market didn’t act much better the first the first day of 2015, with the January contract closing at $10.02. November slid below $10, closing at $9.93....More
The five agriculture stories to read this week offer options for residual herbicides in soybeans, as well as tips for updating your crop yields with the Farm Service Agency under the new farm bill. Read a fertilizer outlook from Rabobank, and hear from Xpert Dan Frieberg about ag data ownership and knowledge. Finally, a happy holidays greeting from the CSD staff.
John Motter, Jenera, Ohio, pays himself $100 per hour from the premiums he earns for growing high-oleic soybeans. Not bad, says the four-year veteran of growing Pioneer Plenish and Asgrow Vistive Gold soybeans. Motter asked to be a high-oleic soybean grower when food trans-fat labeling first appeared, converting all of his soybean acres to high-oleic varieties after two years....More
2014 will be remembered as the second crop year in a row with weather extremes and highly variable crop conditions in many areas of Minnesota and Iowa. A mid-September frost across a wide area of south-central Minnesota and north-central Iowa resulted in an early end to a growing season, which already featured later than normal maturing crops. The end result was some very disappointing corn and soybean yields in many areas of Minnesota and northern Iowa....More
University of Wisconsin-Madison graduate research assistants apply small-plot research results from different management practices to large field-scale settings in order to maximize soybean yields. The basics of their high-yield program include high-yield genetics, early planting, narrow rows, optimal soil fertility and more....More
Good foreign demand for U.S. soybeans is helping bean markets stay above $10 per bushel, with the January 2015 contract closing up about 25¢ at $10.36 Friday. March ended the week at $10.42, up 24¢. And anticipation of possible reduction in soybean ending stocks could add further support to bean prices, says Bryce Knorr, senior editor at Farm Futures....More
Northern Illinois is not the first place you’d expect to see 100-bushel soybeans. But Peru, Ill., farmer Dan Arkels yielded 104 bushels per acre on his 30-acre Illinois Soybean Association Yield Challenge plot in LaSalle County, a 15-bushel increase above the previous Illinois record....More
Those anticipating today's USDA Crop Production Report were surprised when the corn forecast was lowered from the October report. Soybean production was increased. " If current production and consumption forecasts actually verify, the big story this year will be that extremely large corn and soybean crops resulted in less than burdensome year ending stocks," says Darrel Good, University of Illinois ag economist....More
Corn stocks up are up significantly from 2013, and bushels in on-farm storage are up 68% from last year, according to the Sept. 30 Grain Stocks Report from USDA. Soybean stocks, on the other hand, are down about a third from last year, and on-farm stored beans are down nearly 50% from 2013....More
Reports of more severe waterhemp infestation in Midwest soybean acres continue to roll in as we head into harvest, and that means more herbicide-tolerant weed seed going into the ground to cause larger future problems....More
The latest USDA Crop Progress Report shows corn harvest starting in several states. The overall corn crop is just over 25% mature, which is behind average. Crop conditions remain over 70% good/excellent, and well ahead of last year's conditions. The soybean crop has been dropping leaves on almost a quarter of the overall crop. Conditions held on to more than 70% good/excellent....More
Freeze warnings have some worried – but the sub-$10 per bushel soybean price is more of a concern for a huge crop expected to hit the bins this fall. USDA’s Thursday forecast of 3.91 billion bushels surpassed the August projection of 3.81 billion. New-crop ending soybean stocks are projected at 475 million bushels. All those numbers helped keep downward pressure on soybean prices....More
These 5 ag stories to read talk about the impact of recent low temperatures on soybean yield, and remind growers to scout corn fields for stalk and ear rots before harvest. There is also big picture information about the choices farmers will soon make regarding the 2014 Farm Bill. Read advice on using tillage to control resistant weeds, and for the hunters, check out the 2014 pheasant hunting forecast.
Corn production is forecast at 14.4 billion bushels, up 3% from both the August forecast and from 2013. Soybean production is forecast at a record 3.91 billion bushels, up 3% from August and up 19% from last year....More
Five ag stories to read this week reminds growers to scout soybean fields for diseases, including sudden death syndrome and brown stem rot. Watch a video update on crop conditions in August across the Midwest, and read about yields and their impact on crop returns for 2014. Also watch a video with practical tips for using UAVs on your farm. And as harvest creeps up on us, check out one of our favorite photo galleries: A day in the life of corn harvest.
Widespread, locally heavy rain boosted topsoil moisture and aided immature summer crops from the northern Plains into the Midwestern and MidAtlantic states. Weekly rainfall totaled at least 4 inches in several areas, including central Montana, parts of the Dakotas, and some northern locations in Illinois and Indiana.
The Crop Progress report released on Monday by the USDA showed the corn crop falling behind average development in the dent stage. Corn condition improved slightly over last week. The soybean crop is nearly done setting pods, but overall condition dropped slightly in the last seven days....More
The USDA Crop Report issued on August 12 estimated the 2014 total U.S. corn production to be just over 14.0 billion bushels, which would be new corn production record. This would be a slight increase from the 2013 production level of 13.9 billion bushels, and compares to 10.8 billion bushels in 2012....More
USDA released the August Crop Production and WASDE reports, predicting an increase in both corn and soybean production, and a decrease in prices. Ending stocks are increased for corn and are flat for soybeans....More
This installment of 5 Ag stories to read reminds growers to scout corn and soybean fields for stink bugs, and also talks about the impact cooler weather has on corn yield. Read about Russia's recent ban on food imports from Europe and the U.S., and how that's impacting markets. There's also a progress update on the implementation of new farm programs in the 2014 Farm Bill. Finally, enjoy a little trombone serenade by one farmer...to his cattle!
The corn and soybean crops continue to progress just ahead of average, with corn starting to hit dough stage and soybeans starting to set pods. Crop conditions are holding fairly steady, dropping just a point or two in the last week....More