UnitedSoybean

Farmer now anticipating normal spring timetable

Over the past month, there has been a lot of speculation about possible spring planting delays in the Midwest due to wet soils and cool temperatures.  But conditions have improved significantly in recent days, to the point that a normal mid-April start to planting season looks like a real possibility for many farmers. 

Klint Cork farms in Ida County in west-central Iowa, near the town of Galva.  Despite record-breaking snow and cold this past winter, he says they hope to start planting in a couple of weeks.

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Corn down, beans and wheat up ahead of USDA numbers

Soybeans closed modestly higher on old crop/new crop spread trade, the lower dollar and position squaring ahead of USDA numbers. Those reports are expected to show an increase in acreage and a quarterly and year to year decrease in stocks. However, the acreage rise is seen as only modestly and due to greater than expected monthly use, stocks may have a bigger than expected cut.

Corn was lower on consolidation, profit taking and technical selling but still managed to hold above 2010 lows. Weather looks generally good and the USDA numbers should be bearish with a year to year increase in supply and planted acreage.

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Corn, soybean and wheat export inspections inside estimates

USDA reports corn, soybean and wheat inspections for the week ending March 25 were within pre-report estimates. Shipments of soybeans were more than what’s needed weekly to meet USDA projections for the 2009/10 marketing year but corn and wheat fell short of their respective marks.

Soybeans were pegged at 29.291 million bushels, a decrease of 3.315 million from the prior week but an increase of 2.846 million from last year. For the marketing year to date, soybean inspections are 1.236 billion bushels, compared to 926.795 million a year ago.

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Iowa consultant evaluates South American crops

An Iowa crop consultant, just back from a crop scouting trip to South America, says the crops there look good—but perhaps not quite as good as advertised.

Bob Streit with Central Iowa Agronomics in Boone, Iowa says excessive rains in Brazil delayed planting early on and have also interfered with the timely application of pesticides and fungicides—which is affecting yields. 

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Analysts expect increase in corn, soybean acreage

The average estimate for soybean acreage is 78.550 million acres, compared to 77.5 million in 2009 as producers try to keep up with biodiesel and export demand.

Corn’s projected to be around 88.941 million acres, compared to 86.5 million a year ago on expectations for increased ethanol use.

USDA will also be updating quarterly corn, soybean and wheat stocks.

Corn stocks are expected to be 7.505 billion bushels, in a range of 7.318 billion to 7.758 billion, with soybeans at 1.207 billion bushels, in a range of 1.160 billion to 1.270 billion, and wheat at 1.364 billion, in a range of 1.332 billion to 1.398 billion bushels.

The numbers will be released on Wednesday, March 31.

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Weekly soybean meal sales larger than expected

USDA reports corn, wheat and soybean oil sales for the week ending March 18 were within pre-report expectations while soybean meal topped projections and soybeans were below all estimates. Physical shipments of corn and soybeans were larger than what’s needed weekly to meet USDA projections for the 2009/10 marketing year while wheat fell short of its mark.

Soybeans were pegged at 273,400 tons (10.0 million bushels), 28% larger than the previous week and an increase over the four week average.

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Application deadline for See for Yourself Program

The United Soybean Board (USB) and the soybean checkoff are in the process of accepting applications for the third annual “SEE FOR YOURSELF” program. Vickie Coughlin, of Wisconsin, chairman of the USB’s audit and evaluation committee says the program is a chance for soybean farmers from across the U.S. to see firsthand how the soybean checkoff builds demand for U.S. soy at home and overseas.

The deadline to apply is April 1.

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Bill extending ethanol blenders’ credit introduced

Citing the situation with biodiesel, Renewable Fuels Association president Bob Dineen says it’s vital that Congress act before the current tax credit and import tariff expire at the end of this year.

“Last December, Congress failed to extend the tax incentive for biodiesel—and the impact that it has had on that industry has been catastrophic,” says Dineen. “We cannot allow that to happen with the ethanol industry.”

The Renewable Fuels Reinvestment Act, as it is called, is sponsored by Representatives Earl Pomeroy of North Dakota and John Shimkus of Illinois.

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Survey: Farmers rethinking push for more corn

That’s according to the latest survey of 2010 planting intentions by Farm Futures magazine.

The survey found farmers intend to plant 87-point-three million acres to corn this spring.  While that is still an increase of one percent over 2009, it is more than two million acres lower than in Farm Futures December 2009 survey.

Soybean planting intentions, at 79-point-four million acres, are down slightly from December’s survey.

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Patience key in dealing with corn stalks

Corn stalks left on the field are going to be a big challenge for many growers this spring planting season. University of Illinois Extension Agronomist Emerson Nafziger says because fall tillage was greatly limited by wet conditions the stalks have not broken down, so growers will have to try and work them in or break them up and push some aside, especially when it’s corn after corn.

Nafziger says dealing with the stalks will be time consuming and frustrating for growers, including no-till growers, but they need to do all they can to prepare a good environment for germination of the next crop.

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