China to step up control on grain imports as stockpiles rise | Reuters

(Reuters) – China will strengthen control over grains imports and crack down on illegal activities like smuggling in a bid to cut oversupply, with record stockpiles creating storage problems for the new harvest, China’s vice premier said on Friday.

China’s stockpiling policy, under which it buys from farmers at inflated prices, has made cheaper overseas supplies more attractive for end-users like feed mills, forcing the government to take action to try to curb surging imports.

“We will strengthen import and export controls for grains while severely cracking down on irregularities like smuggling in order to stabilizes the domestic market,” vice premier Wang Yang said at a national conference.

China’s rejection of cheap U.S. corn cargoes on the grounds that it contained a genetically-modified strain not permitted for import was also seen as part of Beijing’s efforts curb cheap imports and support domestic corn prices.

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Harvesting Soybeans

What can be done to expedite soybean harvest operations? | MSU Extension

The advantages and disadvantages of various options for increasing soybean harvest efficiency.

According to the USDA National Agricultural Statistics Service, 23 percent of Michigan’s soybean crop was harvested as of Oct. 19, 2014. The average harvest progress on this date for 2009 to 2013 is 60 percent. Because of this, soybean producers are looking for ways to expedite harvest operations. Below are several options for speeding up the 2014 soybean harvest.

Increase combine ground speed when possible

When conditions are suitable, increasing your ground speed may be an easy way to increase harvest capacity when faced with a short harvest window. Increasing harvest losses and plugging the combine are the biggest potential downsides of this option. Increasing combine ground speed increases the potential for gathering losses, threshing and cleaning losses. Gathering losses due to higher speeds occur when the cutter bar rides over plants before cutting them off, stripping pods from the plants or leaving them attached to the stubble. Frequent and careful “fine-tuning” of reel speed and position are necessary at higher ground speeds. Tall, uneven stubble and loose pods on the ground are indicators that ground speed is too fast. Threshing losses occur when the combine’s threshing/separating capacity is exceeded. Draper heads optimize combine capacity and minimize threshing losses by providing more uniform feeding than auger heads.

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Potassium deficiency in corn source:

Potassium is a key ingredient to producing quality crops

Potassium (K) levels have been declining in Ontario fields. Many fields that have been sampled have noticed a drop in their soil sample potassium levels from a few years ago. Simply said, growers are not applying enough fertilizer. In some cases fertilization is less than what the crop will remove causing a decrease in soil nutrient reserves. Potassium is one of the three nutrients needed in large quantities by plants. This essential nutrient could be a limiting factor in your crop yields if your soil is not maintained at adequate levels.

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October 2014 Market Analysis

USDA Report & Market Highlights

  • Corn Summary – A bit of a shock with the USDA coming in a ½ bpa below the trade average on yield and 200 K lower on harvested area. Still carry-out grew 80 million from last month. Higher feed/residual estimate supportable from larger crop; more so as average producer price estimate seems high relative to where the market is and the export outlook doesn’t look THAT promising—note Europe’s corn import demand is 9 MMT SMALLER TY!
  • Soybean Summary – The USDA’s 47.1 bpa yield estimate was a ½ bpa below the trade average and area harvested, 300 K fewer at 83.4 million. Lot of minor tweaking but carry-out is only 25 mbu lower at 450 and estimated ending 14/15 world stocks actually grew by a ½ MMT and are now forecast to be up in excess of 36%. Market is currently trading 8-9 lower and seems justified given the stocks outlook. Still, South America has to plant and grow a crop.
  • Wheat Summary – Slightly supportive on modest reductions in competitor crops and lower world ending stocks. FSU crop size was lowered 630,000 MT vs. September with exports reduced 1.0 MMT. Australia production declined 500,000 MT vs. last month with exports down a like amount. Crop size in Argentina was reduced 300,000 MT with exports also lowered 300,000. The net of these changes was a 25mbu increase in U.S. exports (HRS, +10; SRW, +10; and Durum, +5). Annual export forecast at 925mbu vs. 1176 a year ago. In addition, U.S. feed/residual was boosted 25mbu to 180. U.S. carryout at 654mbu, which was 50 million below the average trade guess. World ending stocks were lowered 3.8 MMT to 192.6, although that’s still up 4% from last year.

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Wheat field

Late Planted Winter Wheat

During years when soybeans are harvested later than expected or environmental conditions delay field work, winter wheat is generally skipped in the rotation or planting is rushed. When planting winter wheat later than the recommended planting dates, even more care should be taken to ensure yield potential is not lost.

Planting date

In general, delaying planting past the recommended planting window can cost a producer from 0.6 to 1.1 bu/day. It is best to strive to plant around these dates (See figure 1).

planting dates map

Figure 1: Optimum Planting Dates in Ontario.

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corn stalks

Corn Maturity and Drydown

Can I capture an early market premium?

It’s that time of year again when growers look at their corn crop and go through the exercise of deciding when to harvest. They also wonder if they will be able to harvest a bit early to capture an early market premium for their corn. With the overall later planted crop and cool summer temperatures, corn maturity and drydown will likely occur later for most and harvesting to capture this market premium will be more difficult.

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Join the Revolution

Thompsons is an agri-business partner to our farming customers providing them with customized risk management solutions. Our team of professionals add value by helping customers obtain long term success through the implementation of individualized advanced agronomy solutions, finds global markets for their grain and specialty crops, and the ability to offer extensive grain marketing alternatives.

This statement is the focus of what Thompsons does today and is the standard of excellence we will strive for in reaching our goals of tomorrow. Thompsons Revolution is a campaign that will help us define the needs of our customers and challenge each of us to better understand how we can bring a new standard of quality to meet the needs of an ever complex and changing agricultural industry.

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