UnitedSoybean

More harsh criticism of EPA at D.C. forum

The U.S. Environmental Protection Agency was the target of some very harsh criticism at a forum in Washington, D.C. Wednesday.

The event, which was hosted by the GOP-sponsored Rural America Solutions Group, was entitled “The EPA’s Assault on Rural America”.   One of those testifying was Tamara Thies, chief environmental counsel for the National Cattlemen’s Beef Association. Thies cited several examples of EPA’s over-regulation, including its proposal to regulate dust.  She says under such rules, farmers and ranchers could be fined for everyday activities like driving a tractor down a dirt road or tilling a field.

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Analysts see smaller supply of corn

Ahead of Thursday’s quarterly stocks update, analysts see USDA corn stocks down on the year with wheat and soybeans up.

The average estimate for corn stocks as of September 1 is 1.407 billion bushels, compared to 4.310 billion on June 1 and 1.673 billion last year at this time.

Soybean stocks are expected to be around 151 million bushels, a seasonal drop from the 571 million reported in June but up from 138 million bushels a year ago.

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Cuba trade vote

The House Foreign Affairs Committee is scheduled to vote this week on a bill that would ease restrictions on trade and travel to Cuba. Chris Garza, Trade Specialist with the American Farm Bureau Federation says it’s a good bill and that it’s time to end the Cuba embargo.

The National Pork Producers Council (NPPC) is also urging House members to lift trade and travel restrictions to the island nation. According to an Iowa State University economist Dermot Hayes, U.S. pork exports would increase by $28.2 million once travel and financing restrictions on Cuba were lifted.

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Weekly soybean export inspections above estimates

USDA reports soybean inspections for the week ending September 23 were larger than expected while corn and wheat were within estimates. Inspections of corn, soybeans and wheat were less than what’s needed weekly to meet USDA projections for the 2010/11 marketing year.

Soybeans were pegged at 18.622 million bushels, up 5.759 million from the prior week and 10.865 million higher than last year. So far this marketing year, soybean inspections are 42.069 million bushels, compared to 27.049 million a year ago.

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Soybean checkoff supports protein/oil survey

The United Soybean Board is sending soybean sampling kits this fall to about ten-thousand soybean growers.  They’re asking those farmers to return a sample of their new-crop soybeans for analysis of the protein and oil content.

USB director Bruce Bartlett, a soybean grower from North Carolina, says international purchasers ask for a “preview” of the U.S. soybean crop before they start purchasing new-crop soybeans each year.

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27% of U.S. corn crop harvested

USDA reports that as of Sunday, 27% of corn was harvested compared to 6% a year ago and the five year average of 15%. 85% of the crop has reached maturity, 66% of corn is in good to excellent condition, down 2% on the week.

For soybeans, harvest is at 17%, compared to 5% a year ago and 13% on average, with 77% dropping leaves, 63% of soybeans are in good to excellent shape, unchanged from a week ago.

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State reports:

Iowa

Missouri

Indiana

Wisconsin

Illinois  

Weekly soybean sales top 1 million tons

USDA reports wheat, soybean and soybean meal sales for the week ending September 16 were larger than expected while corn and soybean oil were within pre-report estimates. Physical shipments of wheat were more than what’s needed every week to meet USDA projections for the 2010/11 marketing year but corn and soybeans fell short of their respective marks.

Soybeans were pegged at 1,083,700 tons (39.8 million bushels), an increase of 62% from the prior week. China was far and away the biggest buyer at 810,500 tons. At this point in the marketing year, soybean sales are 707.9 million bushels, compared to 690.1 million a year ago.

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A.S.A. call to action

The American Soybean Association is calling on their members to call on members of the House Foreign Relations Committee. The Committee is scheduled to mark up HR 4645, the Travel Restriction Reform and Export Enhancement Act on Wednesday (Sep 29). This is the bill sponsored by House Ag Committee Chair Collin Peterson which would remove current travel restrictions on Americans going to Cuba. It would also lift the cash-in-advance requirement and eliminate the need for Cuba to use third-country banks to pay for U.S. goods.

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Informa sees lower corn, soybean production estimates

Informa Economics has corn at 12.88 billion bushels on lower than expected yields, while soybeans are seen at 3.412 billion bushels because of smaller acreage.

USDA’s next set of production estimates are out October 8.

Informa also released early estimates for next year’s planted area. Corn is projected at 90.4 million acres, up on the year while soybeans are seen down on the year at 77.4 million acres. Informa expects total wheat acreage to be around 57 million acres.

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Senate Ag Committee to hold hearing on EPA’s impact on farmers

Senate Agriculture Committee chair Blanche Lincoln says the hearing will help ensure, in her words, “that we are avoiding unnecessary, duplicative regulation.”  EPA administrator Lisa Jackson will be the first to testify.

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