It appears the days of $6 corn prices, and maybe even $5 corn, are behind us for the foreseeable future. Projected significant increases in corn carryover inventories, along with fairly good 2014 crop conditions in many areas of the Midwest, will likely continue to put pressure on both cash corn prices, as well as new-crop prices. The outlook for soybean prices is a bit more optimistic, but new-crop soybean prices could also be challenged, if better-than-expected average U.S. soybean yields are achieved in 2014....More
This installment of 5 ag stories to read offers tips on assessing early-planted corn hail damage. Consider global fertilizer outlook and Chinese purchase of soybeans, as well as pesticide use in U.S. agriculture for the past five decades. And, have a little fun with a new soybean meme!...More
Soybean bears are wondering if the cash markets might be telling a slightly different story than the balance sheet bulls are projecting. The bears are also thinking the USDA will revise last years soybean crop higher by some 15 to 25 million bushels. The question the bulls are asking is how much higher will domestic crush and export demand be raised?...More
Choosing spring or fall strip-till “depends on so many factors; only you can decide,” says Brad Meister, Bourbon, Ind. “Soil type, coulter machine or shank machine, whether you have any erodible land, the amount of time you have in the fall to do it; how long it takes for your ground to mellow out in the spring, and whether you put down phosphorus or potassium with it.”...More
“We’ve seen a trend toward more on-farm storage in recent years because producers understand they can put more money in their own pockets," says Adam Dryer, Blue Reef Agri-Marketing Inc. He explains that the economics of on-farm storage can work to farmers’ benefit in two ways....More
Spring 2014 has been a battle for most Upper Midwest crop producers, as they have tried to get corn and soybeans planted on a timely basis. Some favorable weather in late May allowed significant planting progress in many areas of southern and western Minnesota, and adjoining areas of Iowa and South Dakota....More
Most of the overall corn crop has been planted, and emergence is on pace with the five-year average of 80%. In this first week of corn condition ratings, 76% of the overall crop is in good-excellent condition. Well ahead of the good-excellent condition rating of 63% at this time last year. The soybean crop is ahead of average planting pace for the second week in a row, and emergence rates are ahead of average, as well....More
Soybean "technicians" continue to look for the market to tip its hand in one direction or the other as for a clue if we will make another run to fresh NEW highs or has the party finally ended???
The old-crop JUL14 contract high of $15.36^6 posted last Thursday might be out of the question, especially if you take into account the upcoming Index roll....More
Rick Juchems, Plainfield, Iowa, is surprised that cereal-rye cover crops did not reduce his corn or soybean yields. He and 11 other Iowa farmers participated in a five-year trial to determine whether rye causes yield hits in the cash crops that follow it. It doesn’t....More
From what I am hearing most end-users are about 65-75% covered through July but have next to nothing done for August. Obviously everybody is hoping imports will help resolve the situation, but no one is clearly certain about how this game will end.
Soybean traders are digesting the fact the US planting pace is now AHEAD of our traditional average. The USDA released data yesterday showing that 59% of the crop is now planted vs. 41% last year and 56% on average. In addition 25% of the crop is now "emerged" vs....More
Farmers across the Corn Belt made strong progress in the fields in the past week, returning to normal corn planting pace and shifting ahead of the five-year average planting pace for soybeans. Warm weather helped corn and soybean crops emerge and push to near-average emergence pace....More
Although the concept of a custom farming agreement is simple, close communication between the custom operator and the landowner is essential. A written contract for the custom farming agreement should definitely be prepared that specifies the amount of payment by the landowner to the custom operator, and all other pertinent details....More
This roundup of 5 agriculture stories you should read offers steps to decide if soybeans should be replanted, as well as some info on soybean injury from soil-applied herbicides, and corn-soybean price ratios. Also, see how one farmer makes aerial scouting affordable, and check out some jazz-loving cows....More
The bear's continue to argue from a longer-term perspective, wanting to discount the current tight conditions in the old-crop balance sheet as something that will eventually be solved by imports, and focus more intently on record US acreage going in the ground, near ideal growing conditions and a very large South American crop that is all but out of the ground....More
If the soybean crop progresses smoothly into late summer and fall, new-crop soybean cash prices could tumble down to near $10, and could drop to $8.50, said Dan O’Brien, Kansas State University Extension grain economist....More
Argentina’s peso has remained mostly stable since the end of March, but in the past few days, the country’s central bank (BRCA) has allowed it to start weakening again. This follows a steady reduction in interest rates that’s been ongoing for the last month, which now stands 26.9%, far below the inflation rate, which most analysts believe is close to 40%....More
Bears continue to feel the pain and side-effects of Injuries sustained by the sudden and unexpected jerking of the markets higher. I continue to monitor both the NOV14 and NOV15 soybean contracts in hopes of making another round of sales and further reducing downside risk and exposure....More
Shoulda, coulda, woulda may be the theme if you didn’t use a pre-emerge herbicide, and rain has kept you from returning to spray. That could get to be expensive. In soybeans, you have from 9 to 19 days after soybean emergence before losing yield....More
Most of the eastern half of the nation received at least an inch of rain, with 2-4-inch totals common from eastern Texas into the central and eastern Corn Belt and in the Atlantic Coast States. The rain curtailed fieldwork across much of the Midwest, South, and East, following a warm, dry period that had favored a rapid planting pace.
The May 18 Crop Progress report from the USDA showed a slower planting pace over the past week, with corn planting progress dropping back behind the five-year average and soybeans lagging further behind. The good news is that both corn and soybeans are emerging in most states....More
Common man-made agronomic problems that he sees aerially often arise from uneven plant emergence/planter problems and uneven nutrient application. These July 2013 aerial photos from northeast Iowa show agronomic problems. Can you decipher them?
With spring planting in full swing, farmers are encouraged to properly maintain their ag tires to promote optimal equipment and crop performance in the field. James Crouch, farm segment marketing manager for Michelin North America, says having the right tire pressure and sufficient tread are the most important considerations.
The USDA Crop Production and World Agricultural Supply and Demand Estimates (WADSE) Reports released on May 9 were regarded as neutral to bearish for the corn and soybean market in the coming months. Corn stocks are expected to increase by more than 50% by the end of the next crop marketing year, while the ending stocks for soybeans are expected to more than double by the end of the 2014-15 marketing year, which runs from September 1, 2014 to August 31, 2015....More