Agriculture NewsThe Chinese are purchasing record numbers of Brazilian soybeans due to the trade dispute with the United States. China is willing to pay higher prices for Brazilian beans, thus impeding purchases of U.S. crops during their peak marketing season. (Reuters)
Tag Archives: soybeans
BASICS OF BASIS
Current futures prices for corn and soybeans are bad enough, but the picture is much worse looking at local cash bids. What’s causing the wide basis levels? Joe Camp, AgriVisor risk management specialist, and Mike Doherty, Illinois Farm Bureau senior economist and policy analyst, explain in this Q&A. (FarmWeekNow.com)
Posted in Agriculture News
Also tagged Basis, commodity prices, Corn, futures, Marketing, risk management
Comments closed
SOYBEAN SNUB
China has not only stopped buying soybeans from the United States, it’s also provided evidence that it will avoid doing business for as long as possible. Doug Wehrling, vice president of trade for Bower Trading, said signs indicate Chinese demand for soybeans remains high – but buyers aren’t getting them from the United States. “They’re… read more
CROPS OFF TO A GOOD START
According 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
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
Comments closed
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)
