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Tag Archives: soybeans

EXPORT TAXES DROPPED

The new Argentine president today eliminated export taxes for grains, and lowered the rate on soybeans.  In the case of soybeans the rate will fall from 35% today to 30%, while for corn (20%), wheat (23%) and meat (9%) will be eliminated entirely.

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EXPORT TAXES

The new Argentine president will start off his new administration by eliminating the export taxes on corn and wheat. Mauricio Macri will also drop the soybean export tax rates by 5% a year until it is eliminated in seven years.

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US SOYBEAN EXPORTS SLOWING

Despite abundant supplies, U.S. soybean exports for the current marketing year (September/August) are forecast down from last year, due largely to greater competition from Brazil. Soybean production in Brazil is forecast to reach a record 100 million metric tons this year.

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STABLE SEED PRICES

A top executive at Monsanto Tuesday suggested the company expects 2016 corn seed price increases only in the low single digit gains, similar to their plans last year at planting time.  He said soybean pricing plans will be released at later date.

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FARMERS PLEASED

As harvest ends, local farmers are pleased with crop yields. Farm manager Kurt Bangert says corn yields have ranged from 200 to 250 bushels per acre; soybeans ranged between 60 and 80 bushels/acre, as reported by the Pantagraph.

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HARVEST FINISHING

USDA’s weekly Illinois crop report indicates farmers are closing in on the finish line. 96% of corn and soybeans are harvested statewide.  89% of winter wheat is planted, with emergence well ahead of last year’s pace.

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CROP INSURANCE

The spring guarantee price of $4.15/bu for corn and $9.73/bu for soybeans for crop insurance revenue claims will remain in force.  The harvest prices determined during October were lower than the spring guarantee rates.

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FERTILIZER TRENDS

The possibility for lower fertilizer prices seems to be in the cards looking into 2016, Ag economist David Widmar says. However, several things can happen between now and spring 2016. The biggest wildcard is corn acres planted (or anticipated planted) in 2016. Conditions in 2015 strongly favored soybean acres. Looking at current crop budget estimates,… read more

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ILLINOIS HARVEST AT THE HALFWAY MARK

Corn and soybean harvest are about 50% complete, according to the Illinois Department of Agriculture. In its weekly crop report on Tuesday. The department said Illinois is forecast to be the country’s No. 1 soybean producers this year and No. 2 corn producer behind Iowa.

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FLIP A COIN FOR ’16

Ag economists say with current grain prices, what to plant next spring is a coin toss. At this point, it appears the trade-off between corn and soybeans is about equal, says Brent Gloy and David Widmar.

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