Mark Ash and Dana Golden explained in this month’s Oil Crops Outlook, from USDA’s Economic Research Service (ERS), that, “Despite an unchanged yield, USDA pegs the 2020/21 U.S. soybean crop down by 45 million bushels this month to 4.268 billion as the sown acreage is revised down by 731,000 acres to 83.1 million. With strong sales to China, USDA raises its forecast of […]
Reports this month from the USDA’s Foreign Agricultural Service (FAS) have provided updated information on market variables impacting soybeans, meat, and corn. Today’s update highlights some of the key findings from these FAS publications. Soybeans In a report Friday, Oilseeds: World Markets and Trade, FAS stated that, “Soybean prices on the Chicago Exchange topped $10.00/bu in […]
Reuters writer Mark Weinraub reported late last week that, “U.S. corn and soybean supplies will be smaller than previously forecast, as adverse weather reduced the acreage that farmers will harvest, the U.S. government said on Friday. Soybean stocks were pegged at a five-year low, with rising exports eating into the stockpile, according to the U.S. Agriculture Department’s […]
Corn and soybean prices declined throughout much of the first half of 2020, with low prices persisting into early August. Since August, both corn and soybean prices have increased. Overall, commodity price movements have increased the relative profitability of soybeans to corn in 2020, continuing a string of years since 2013, in which soybeans have […]
A recent report from USDA’s Foreign Agricultural Service (FAS), “China: Evolving Demand in the World’s Largest Agricultural Import Market,” stated that, “As part of the Phase One Agreement, China has committed to purchase $12.5 billion more agricultural and related products from the United States over 2017 levels. “After a slow start in the first quarter, U.S. agricultural exports to […]
We compared projected state yields made available in the September Crop Production report to trend yields estimated with forty years of historical data. State corn yields are projected to be above-trend for most Midwest states in the Corn Belt, except for Iowa, Ohio, and Nebraska. Soybean yields also are projected above trend for all Midwest states except for Iowa. […]
The Renewable Fuels Association today hailed the introduction of the Next Generation Fuels Act of 2020 by Rep. Cheri Bustos (D-IL), calling the legislation “the beginning of an exciting new era in transportation fuels policy.” By establishing a high-octane, low-carbon fuel requirement, the bill would reduce greenhouse gas emissions, enable greater engine efficiency, and encourage […]
Reuters writers Hallie Gu and Dominique Patton reported late last week that, “China’s August imports of soybeans from Brazil rose 22% from a year ago, customs data showed on Friday, as buyers increased their purchases to take advantage of higher margins earlier this year. “China, the world’s top buyer of soybeans, brought in 8.15 million tonnes […]
Corn fields are turning quickly. Patches of plants are dying early and/or becoming discolored. In some areas of the state, lodging has been reported. Corn plants prioritize making and filling grain. Consequently, plants will cannibalize their own stalk tissue if necessary in order to have the carbohydrates needed to fill grain. What does this mean? […]
An early frost has producers wondering what to do with immature frost-damaged soybeans. “Soybeans killed at growth stages of full seed development (R6) and beginning maturity (R7) should be left out in the field to dry and harvested along with mature soybeans (R8) when the beans are at the desired moisture content,” advises Ken Hellevang, […]