UnitedSoybean

Acreage estimates out Wednesday morning

When the USDA releases its planted acreage estimate Wednesday morning, traders expect to see more corn and soybean acres—and less spring wheat. 

The average pre-report estimate puts corn acres at 89-point-two million—up about 400 thousand from the March prospective plantings report—and the highest since 1945.  Soybeans acres are pegged by the trade at a record large 78-point-one million acres—up less than 100 thousand acres from March.

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Farm profits decreased a bit in June

The preliminary All Farm Products Index of Prices Received by Farmers in June decreased 1.4 percent from May. The Crop Index was 3.3 percent lower and the Livestock Index slipped 0.8 percent. Farmers received lower prices for cattle, hogs, wheat and onions, higher prices for milk, turkeys, lettuce and cucumbers.

In the Crop Index, the June corn price was $3.38 per bushel, down a dime from last month, soybeans were 2 cents lower at $9.39 per bushel, the all wheat price was $3.80 per bushel, down 53 cents from May while the all hay price was $2.00 lower at $114 per ton in June.

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Ag research needs to look beyond productivity

A new report from the National Research Council says “national agricultural policies and research programs should look beyond low costs and high production and adopt a holistic perspective to farming that encompasses multiple end goals.”

The NRC study found that while farmers in the U.S. have become much more productive, “agriculture has external costs that are mostly unaccounted for in productivity measurements.” It cites as examples, declining water tables, increased nitrogen and phosphorus levels in surface water and oxygen-starved zones in waterways along with nitrous oxide and methane gas emissions.

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25×25 to hold National Summit

“MISSION ACHIEVABLE” is the theme of the 6th National 25×25 Summit coming up June 29-July 1 in Washington, D.C.

Ernie Shea, 25×25 Alliance project coordinator says the 25×25 National Renewable Energy Summit has a program with a broad range of perspectives, and it’s coming at a time when the energy policy debate gathers steam on Capitol Hill.

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Peterson wants early markup of ‘12 Farm Bill

House Ag Chairman Collin Peterson says starting work on the 2012 Farm Bill early is crucial, given the financial difficulties ahead. Peterson spoke Thursday at a hearing of the House subcommittee that oversees commodity programs.

Peterson says his plan is to begin markup of the 2012 Farm Bill next May or June.

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Attempt to reinstate biodiesel credit fails again

On Thursday, an amendment to the American Job and Closing Loopholes Act of 2010, which included a retroactive reinstatement of the biodiesel tax incentive through December 31^st, 2010, failed by a 57-41 margin. And according to Iowa Renewable Fuels Association biofuels manager Grant Menke, this latest defeat is particularly damaging, as the Senate has no current timeline to take up the tax extenders legislation again.

 

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Corn, wheat export sales above expectations

USDA reports corn and wheat exports for the week ending June 17 were larger than expected while soybean oil was within projections and soybeans and soybean meal were just under pre-report estimates. Physical shipments of corn, soybeans and wheat were less than what’s needed weekly to meet USDA projections for the marketing year.

Soybeans were pegged at 308,300 tons (11.3 million bushels), a decrease from the previous week but an increase from the four week average.

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Precision ag needs more ‘on-the-go’ technology

"We need to develop more systems that sense something that’s going on in the field, instantly makes the decision and then does something about that—on-the-go type sensors,” says Bruce Erickson, cropping systems management at Purdue University.

But to be accepted by farmers, Erickson says the technology will have to automated—and simple to operate, “so the farmer doesn’t have to collect it, go back to their office and think about it, make a map and then go back and do something.  If that can all happen in one fell swoop, that is the type of thing that will probably be adopted more quickly in the future.”

Erickson spoke at this week’s HTS Precision Ag Solutions field day near Harlan, Iowa.

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Barge traffic slowdown on the Mississippi

Barge traffic on the Mississippi River at a specific point in Northeast Missouri and West Central Illinois has been temporarily stopped because of high water deemed too dangerous for operation. WGEM in Quincy, Illinois says water on Wednesday nearly topped Lock and Dam 20 at Canton, Missouri, halting barge traffic there until the water recedes.

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U.S. corn being unloaded in China

For the first time in nearly 15 years, a load of U.S. corn is being unloaded in China. The U.S. Grains Council reports the ship carrying 55,000 metric tons (2.2 million bushels) of U.S. No.2 yellow corn, arrived at the Longkou Port in Shandong Province of China on Monday.

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