Corn and soybean producers faced dry weather in some areas last summer and yields varied across the province, but where faced low yields, Production Insurance helped out. A couple of areas were affected more severely by the dry weather and experienced yields lower than the historical average. Other parts of the province saw the highest […]
The United States appears well on its way to exporting the largest volume of corn in nine years, but there will be some hurdles to overcome in order to meet the full expectation for the season.
The United States is the world’s No. 1 source for corn and while not the primary form of domestic use, exports are crucial in keeping the supply from piling up, something that was a bit of an issue early on last season.
The U.S. Department of Agriculture has 2.225 billion bushels (56.5 million tonnes) of corn slated to ship by Aug. 31. If realized, the 2016/17 season would rank as the fifth-largest U.S. corn export campaign of all time, behind 2007/08, 1979/80, 1980/81, and 1989/90. Read more
The big crops keep coming
With 2016 nearly in the history books, it seems fair to say that the year will be remembered for its record corn and soybean harvests. Never before has any country ever produced 15.23 billion bushels of corn or 4.36 bb of soybeans, let alone both in the same season.
Not only was 2016 a year of good harvest, it was the fourth consecutive year of good harvests and, because of that, ending surpluses grew larger. According to USDA, U.S. ending corn stocks will total 2.4 billion bushels in 2016-17 or 16.4% of annual use. That is the highest stocks-to-use ratio in 11 years, an impressive accomplishment that took DTN’s national index of cash corn prices below $3.00 a bushel in the fall to its lowest level in eight years. Read more
Favorable Rain Boosts Brazil Crops
Private Brazil crop analytical firm Safras and Mercado put a new benchmark on Brazil soybean production at the end of the week. The projection from this firm is 106 million metric tons — a new record and well-above the 96.50 mmt crop estimate for the 2016 harvest. The Safras projection is 4 mmt above the latest USDA figure in its World Agricultural Supply and Demand Estimates (WASDE) report. Read more
CNS Canada — Soybean futures at the Chicago Board of Trade moved lower during the week ended Wednesday, while corn held steady, with South American weather conditions expected to provide much of the direction going forward.
“We’re pretty much trading one weather report at a time,” said Sean Lusk, director of commercial hedging with Walsh Trading in Chicago.
While dryness concerns in Argentina provided some support for soybeans in recent sessions, forecasts are improving in the major export nation. Early crop projections out of Brazil also remain large overall. Read more
Source: Reuters – Karen Braun (Karen Braun is a Reuters market analyst. Views expressed are her own.)
The United States will certainly harvest a huge corn crop in 2016, so it hardly matters if yield falls by a couple of bushels, right? Actually, it does.
Without dissecting the balance sheet and crunching the numbers, it might be hard to understand why slight variations in yield make a big difference in domestic supply.
Last month, the U.S. Department of Agriculture projected that domestic farmers will harvest 15.15 billion bushels of corn over the next couple of months, which would easily set a new record for the world’s leading corn supplier.
USDA also penciled in 2.409 billion bushels of corn carryover at the end of the 2016/17 marketing year, which began on Sept. 1. This would be the largest such volume since the late 1980s. Read more
The condition of the 2016 U.S. corn crop improved 1% last week to 76% rated good to excellent. Eight states indicated that the corn condition had improved, 8 states indicated that the corn condition had declined, and 2 states indicated no change in the corn condition. Most of the improvements were found in the central Corn Belt while most of the declines were found in southern and northern states. The top five rated corn states are: Read more
Your farm has several options to consider utilizing this year:
- Traditional sidedress 28%, perhaps at knee high corn
- High clearance 28% application at V6 to V8 leaf stage with your own self-propelled applicator using drag hoses, Y-drops or streamer nozzles, or…
Introducing Thompsons NEW high-clearance RoGator for urea application!
Apply in-crop urea at V6 to V8 leaf stage with a self-propelled custom applicator airflow RoGator, owned and operated by Thompsons Limited.
If you consider the following chart, showing the uptake of nitrogen throughout the corn growing season, a significant portion of the nitrogen requirement occurs from tasseling to physiological maturity (black layer).
An in-season, planned, application of nitrogen allows you to more precisely meet the nitrogen requirements of your corn crop. In addition, we now have the ability to test for soil nitrogen, in field!
New for 2016
We now have the ability to test for soil nitrogen, right in the field!
Using Thompsons N-Gauge, our 360 SoilScan unit, we will have nitrate results in minutes.
To make the most out of an in-crop application of 28% or urea, it is strongly recommended that the nitrogen be treated with an inhibitor (Agrotain) that protects the nitrogen from ammonia volatilization, denitrification and nitrate leaching.
By Kevin Van Trump
Corn traders are talking about the tendency for old-crop prices to peak prior to planting in years we are deemed to be in an over-supplied environment. Meaning the JUL16 contract might now be nearing the upper end of it’s range, possibly somewhere between our current price of $3.75 and $3.90 per bushel? There’s also more talk that most commercials have satisfied their appetite for old-crop supply. Meaning the basis in many parts of the country may continue to fall under pressure in the days ahead, especially if flat-price continues to move higher. Many commercials are saying they will take old-crop bushels, but only at discounted rates as they seem content simply waiting on new-crop supply to enter the pipe-line. Make certain you are factoring this into your marketing strategy. Technically we also seem to be approaching more heavier Read more
Investors appear to be trimming expectations for the growth US corn sowings this year, as a key report looms, with futures markets boost the incentive for farmers to raise plantings of rival soybeans.
Rabobank on Thursday forecast a rise of 1m-1.5m acres in US corn plantings, from the 88.4m acres seeded last year.
And separately, US-based Global Commodity Analytics, citing results of a limited farmer survey, pegged seedings at 89.4m acres.
Earlier this week, Societe Generale put corn seedings at 89.0m acres, while Informa Economics on Friady pegged area at 89.5m acres.
Although all these forecasts would see US farmers raise sowings of the grain for the first time in four years, the estimates are below the 90.0m acres at which the US Department of Agriculture pegged seedings in an initial estimate last month.
An Allendale report last week did come in with a more upbeat estimate for corn sowings, of 90.4m acres. Read more
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- Closing Quotes CH7 @ 3.69 up 1 CK7 @ 3.76 up 1 SH7 @ 10.26 dwn 6 SK7 @ 10.37 dwn 6 WH7 @ 4.36 dwn 5 WK7 @ 4.49 dwn 5 CDN$ .760910 hours ago
- Mid-day Quotes CH7 @ 3.67 dwn 1 CK7 @ 3.74 dwn 1 SH7 @ 10.28 dwn 4 SK7 @ 10.38 dwn 4 WH7 @ 4.38 dwn 2 WK7 @ 4.52 dwn 314 hours ago
- Closing Quotes CH7 @ 3.68 dwn 5 CK7 @ 3.75 dwn 5 SH7 @ 10.32 dwn 11 SK7 @ 10.43 dwn 11 WH7 @ 4.41 dwn 6 WK7 @ 4.55 dwn 5 CDN$ .76374 days ago
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