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Global Soybean Ending Stocks Up Sharply

Global and U.S. soybean ending stocks are continuing to trend higher, with the world estimate seeing a particularly sharp increase this month.

April 11, 2017 – In updated supply-demand estimates released Tuesday, the USDA raised its 2016-17 soybean ending stocks estimates from last month for both the U.S. and the world. Meanwhile, its average U.S. soybean price forecast ticked lower. Read more

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Optimism remains for U.S. soy exports amid Brazilian competition – Reuters

The opinions expressed here are those of the author, a market analyst for Reuters.

By Karen Braun

CHICAGO, March 10 (Reuters) – U.S. soybean shippers may have been disappointed with demand revisions from the U.S. Department of Agriculture on Thursday, but there is good reason to maintain optimism over the domestic export outlook.

In its monthly supply and demand report, USDA reduced 2016/17 U.S. soybean exports to 2.025 billion bushels. This follows four straight months with the estimate having been unchanged at the 2.05 billion mark.

While the new figure still represents a 5 percent increase over the previous high set last year, the move is somewhat unprecedented as the U.S. agency has not made any cuts to domestic soybean exports later than January during the past three record-setting years.

The decrease in U.S. exports was not severe – only 25 million bushels or 680,000 tonnes – but given that global soybean demand actually Read more

USDA building photo

CBOT weekly outlook: December corn seen as bellwether

Soybean rally seen unlikely anytime soon

CNS Canada — As traders wait for the U.S. Department of Agriculture to put out fresh acreage estimates for corn and soybeans this week some eyes have already shifted to the behaviour of certain deferred contracts in the market.

“If the December (corn) contract broke above US$4 (a bushel) it would be a catalyst,” said Scott Capinegro of HighGround Trading Group in Chicago.

That’s the point at which many producers expect to Read more

South America Calling

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

CBOT weekly outlook: Soy, corn watch South American weather

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

London soybean farmers hope to match record set by wheat crop

By John Miner, The London Free Press


After harvesting a record wheat crop earlier this summer, some farmers in the London region are looking at scoring a repeat with soybeans.

“Soybeans are much better than anyone anticipated. Many people in the London area are having record yields,” Peter Johnson, a Southwestern Ontario-based agronomist with Real Agriculture, said Wednesday.

Soybeans are Ontario’s biggest cash crop with sales in 2015 at the farm gate exceeding $1.4 billion. In Middlesex County, soybeans typically bring in more than $100 million a year.

While the London region and much of Southwestern Ontario fared well, it wasn’t the same story in the Niagara Peninsula where it remained dry through most of August. Read more

Corn field photo

2016 U.S. Crop Conditions Improve Last Week

Corn

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

Estimating Soybean Yield

Calculating soybean yields can be difficult. Plant spacing, soil types, environmental factors, insect and disease stress can all affect the final yield. Pod numbers, seeds per pod, and seed size will all control yield.

When do I begin counting?

The earliest time to begin yield counts is around R5-R6 stage with the R6 stage being preferred (a pod on any of the top four nodes of main stem full of seed.). By R6, all flowering will stop, pods have developed, and seeds in the pods are mostly filled. The accuracy of counts will always increase the closer you are to harvest.

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