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Photo of soybean seedlings trying to break through soil crusted-over

OMAFRA Field Crop Report – June 8, 2017

Cereals

Current weather conditions are ideal for fusarium head blight development in winter wheat. Many wheat fields in Southwestern Ontario have applied a T3 fungicide to reduce their risk particularly if they are growing a FHB susceptible variety. T3 fungicide applications further east will begin this week and continuing into next week for Eastern Ontario. Read more

photo of green soybean pods

Is it too late for U.S. to be crowned “Soybean King”?

South American soybean production now record high

There is no question that one of the big winners in the growth in demand for soybeans from China has been U.S. soybean producers. A recent Market Intel article, China’s Insatiable Demand for Soybeans, highlighted the growth in U.S. exports to China since China joined the World Trade Organization in 2001. Each month China imports hundreds of millions of bushels of soybeans and soy by-products, not only from the U.S. but from Brazil and from Argentina as well. Figure 1 highlights the Read more

flood damage in corn and wet fields

Wet fields create big dilemma for farmers

After a deluge of rain last week, London-area farmers are anxious to get their corn planted.

But an agronomist is advising them to wait until their fields have dried out.

“Farmers will have to have some patience this week,” said Peter Johnson, an agronomist with Real Agriculture.

Earlier planting increases chances of a good harvest but planting on soil that is too wet risks soil compaction that can stifle root growth, he said.

Johnson said there was a wide variation of rainfall across the region last week ranging from a low of about 30 mm around Bayfield to more than 100 mm in some areas. Read more

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