Agriculture NewsAccording to USDA’s Mark Schleusener, 81 percent of Illinois’ corn crop is in good or excellent condition; 77 percent of beans are rated the same. Still, overall conditions are variable across the state. “There are some places, that if you go southeast of Springfield, that are probably suffering from too much rain,” Schleusener said. “And… read more
Tag Archives: soybeans
Crop Progress & Condition – April 30
Farmers were able to make significant progress planting corn and have started planting soybeans over the past week. There were 5.6 days suitable for fieldwork during the week ending April 29, 2018. Statewide, the average temperature was 53.3 degrees, 3.0 degrees below normal. Precipitation averaged 0.32 inches, 0.54 inches below normal. Topsoil moisture supply was… read more
TOUGH ACREAGE DECISIONS
The Prospective Planting report and threat of a 25% tariff on U.S. soybean imports to China are affecting corn and soybean prices. They’re escalating questions and concerns by farmers as to their best moves. (FarmDocDaily)
FRIENDLY CROP REPORT
USDA’s latest World Ag Supply and Demand Estimates report pegged ending stocks of soybeans at 550 million bushels, down 5 million bushels from last month, while cutting expectations for Argentina’s soy production. Corn stock estimates went up less than expected, sending the markets on a rally. (FarmWeekNow.com)
Posted in Agriculture News
Also tagged Argentina, commodities, Corn, ending stocks, markets
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MORE CORN THAN BEANS?
As ag industry leaders speculate about how much corn versus soybeans farmers will plant this year, the American Soybean Association calls China’s proposed 25 percent soybean tariff “devastating” to U.S. farmers. Some experts think farmers will feel pushed to plant more corn. (Pantagraph)
PLANTING ESTIMATES
U.S. farmers intend to plant 89 million acres in soybeans and 88 million acres in corn this year. It’s the first time soybean acres have beaten corn in 35 years, and the main reason is profitability. (AP)
CRUSHIN’ IT
Soy crushing plants in Argentina’s grain ports are key to Archer Daniels Midland Company’s attempt to take over longtime rival Bunge Ltd. ADM, while one of four firms that dominate global grains trading, is the only company in the group with no crushing capacity in Argentina. (Reuters)
FEWER BUGS?
#Corn and #soybean farmers remain hopeful that recent frigid temperatures will mean fewer insects during the next growing season. What should give growers more hope, however, are warm-to-cold temperature swings, says entomologist Kelly Estes. (FarmWeekNow.com)
BIG #CROPS HANG OVER MARKETS
Large crops produced in the U.S. this year could keep a lid on prices heading into 2018, but the additional bushels offer an opportunity to capture carry in the market, which could improve margins at elevators. The futures carry recently moved wider, incentivizing many elevators to gain ownership of corn and wheat, but farmers generally… read more
WILL #FARMERS RESPOND TO MARKET SIGNAL FOR MORE #SOYBEANS?
U.S. farmers planted 7 percent more soybean acres this season, and it appears the market is calling for more. “If we have the same ratio for corn and beans on April 1, we probably stand to pick up some bean acres, as hard as that is to imagine,” Chip Nellinger, of Blue Reef Agri-Marketing in… read more
