A DTN recap of the USDA Grain Stocks and Prospective Planting reports today shows the U.S. definitely has its share of soybeans, with a whole lot more on the way. Quarterly soybean stocks rose to a record 2.11 billion bushels. That’s 21 percent higher than March of 2017. Soybean acres also officially took the lead over corn acres in 2018’s planting intentions. USDA estimates 89 million acres of soybeans will be planted in 2018, with corn right behind at 88 million acres. Both of those estimates are down from last year, by one percent for soybeans and two percent for corn. USDA says the lower numbers are a consequence of a lot of grain stocks on hand, along with lower commodity prices. The estimate of 2.11 billion bushels of soybeans follows a disappointing marketing quarter for the crop. Between December of 2017 and February of this year, only one percent of the total soybean stocks were moved, nine percent lower than the same time frame from the previous year. USDA estimates that corn stocks were at 8.9 billion bushels as of March 1, three percent higher than last year. The report says farmers are projected to plant 47.3 million acres of wheat, three percent higher than a year ago but still the second-lowest acreage number since the early 1900’s. Cotton producers are predicted to plant 13.5 million acres, up seven percent from last year and higher than most pre-report expectations.
Author: Agriculture News
Thursdays closing grain bids
March 29th, 2018
markets closed Friday for the holiday
St Joseph |
|
Yellow Corn |
3.57 – 3.64 |
White Corn |
no bid |
Soybeans |
9.87 – 9.90 |
LifeLine Foods |
3.63 |
|
|
|
Atchison |
|
Yellow Corn |
3.71 – 3.73 |
Soybeans |
9.89 |
Hard Wheat |
4.22 |
Soft Wheat |
3.61 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.73 |
White Corn |
no bid |
Soybeans |
10.00 – 10.05 |
Hard Wheat |
4.57 |
Soft Wheat |
4.09 |
Sorghum |
6.21 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.
BASF seeks farm families to help preserve monarch habitats

(BASF) As monarch butterflies prepare to fly north, BASF is encouraging farm families to provide a layover for these iconic insects by planting milkweed habitats along the migration path as part of the company’s Monarch Challenge. The Monarch Challenge is a program of BASF’s biodiversity initiative Living Acres, which seeks to restore the monarch population, by planting milkweed habitats in non-crop areas of a farmer’s land. Milkweed is an important part of the monarch’s life cycle, as it is the only plant where adult monarchs will lay their eggs. The leaves of the milkweed serve as a main food source for monarch larvae. The Monarch Challenge shares best practices on milkweed development with farmers to help support the monarch butterfly. Last year, nearly 500 farm families signed up for the Monarch Challenge and received a combined 9,000 seedlings and kits to create their own milkweed plots. With the success of last year’s challenge and the continued interest in aiding these iconic insects, BASF is looking to grow the program to 1,000 farm families in 2018. Now is the time for farm families to get involved with the challenge and receive their own milkweed seedlings to plant this spring. To sign up, visit www.monarchchallenge.com.
Lighthizer Hopeful of New NAFTA Deal
U.S. Trade Representative Robert Lighthizer told CNBC television Wednesday he is “hopeful” there will be compromise and a deal reached on the North American Free Trade Agreement. His comments follow those from Canadian Prime Minister Justin Trudeau, who earlier this week said a “win-win-win deal is not only possible but likely.” Lighthizer said Wednesday he is optimistic the three NAFTA members can “get something done in principle in the next little bit.” He acknowledged there is a short window to reach an agreement, as Mexico will hold summer elections and the U.S. will hold midterm elections in the fall. Round eight of the negotiations are scheduled for Washington, D.C., in early April. In the last round of talks, some agricultural topics advanced, including sanitary and phytosanitary measures. However, the American Farm Bureau Federation reported there was much work left to be done on market access, referring to the U.S.-Canada dairy trade issue.
KORUS Agreement a Relief to Agriculture
Agriculture was ‘left out’ of the U.S.-Korea Free Trade Agreement renegotiation effort, a relief to the sector. For many in agriculture, there was more to lose than gain in the renegotiation effort. The U.S. is the largest supplier of beef to Korea and the second largest pork supplier. Data from the U.S. Meat Export Federation shows red meat exports to Korea set a record last year of $1.7 billion, up 19 percent from the prior year and up 69 percent from 2012. USMEF spokesperson Joe Schuele told Meat industry publication Meatingplace the revised KORUS is “excellent news” for U.S. beef and pork because it ensures the U.S. “will continue to be able to serve the growing South Korean market.” South Korea is also a top-five importer of U.S. corn, buying more than 5.3 million metric tons in the last marketing year, which is more than 200 million bushels. Under the new agreement, South Korea will limit its steel exports to the U.S. and allow more imports of U.S. autos. The U.S. agreed to exempt South Korea from Trump’s steel and aluminum tariffs.
Wednesday’s closing grain bids
March 28th, 2018
St Joseph |
|
Yellow Corn |
3.41 – 3.49 |
White Corn |
no bid |
Soybeans |
9.60 – 9.63 |
LifeLine Foods |
3.52 |
|
|
|
Atchison |
|
Yellow Corn |
3.56 – 3.57 |
Soybeans |
9.63 |
Hard Wheat |
4.16 |
Soft Wheat |
3.55 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.59 |
White Corn |
no bid |
Soybeans |
9.73 – 9.78 |
Hard Wheat |
4.51 |
Soft Wheat |
4.04 |
Sorghum |
5.96 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.
Mexico and Canada Face U.S. Tariffs If NAFTA Talks Extend Beyond May
President Donald Trump says Mexico and Canada will face steel and aluminum tariffs if the North American Free Trade Agreement talks don’t progress to his likings by May first. The administration has granted an exemption to Canada and Mexico from the tariffs. However, a White House document says Trump will decide by May first “whether to continue to exempt these countries from tariffs, based on the status of discussions.” The move, Bloomberg reports, puts pressure on Canada and Mexico to progress and complete the talks. Mexican officials have hoped to wrap-up the process by the end of April, before the country’s summer election, and the U.S. midterm election later this year. The move by Trump comes as Canadian Prime Minister Justin Trudeau says momentum is building, and that “a win-win-win deal is not only possible but likely.” Still, there are many issues left to agree on, including major agriculture issues. An American Farm Bureau Federation economist speculated earlier this month that the NAFTA renegotiation effort would stretch into next year.
Spring Food Prices Increase
The annual Spring Picnic Marketbasket Survey by the American Farm Bureau Federation shows higher retail prices for several foods. The informal survey showed the total cost of 16 food items that can be used to prepare one or more meals was $51.05, up $1.02 or two percent compared to a year ago. AFBF attributed the increase to higher retail prices for several foods including eggs, orange juice, meat products, bagged salad, shredded cheddar and vegetable oil. AFBF market intelligence director John Newton says eggs own the highest price increase, saying: “Easter eggs are going to be a bit more expensive, 37 percent higher than a year ago.” U.S. egg exports were up nearly 50 percent in 2017 while egg production remained flat. Meanwhile, the price of orange juice increased 7.5 percent, due to the devastating hurricane late last year that came through parts of Florida, where most orange juice comes from. The hurricane led to growers harvesting the smallest crop in 70 years. Of the 16 items surveyed, nine increased and seven decreased in average price.
Agronomy Week Celebrations
(Monsanto) Every growing season, agronomists play a vital role in providing expertise and support for farmers. Once again this season, farmers can show their appreciation for their agronomic support teams during Agronomy Week to be celebrated April 2-6. Launched last year by the DEKALB, Asgrow and Deltapine brands, the annual event takes place the first week of April to help farmers recognize the contributions of their agronomists, seed dealers and crop consultants who help them get the most out of every acre. Pete Uitenbroek, DEKALB, Asgrow and Deltapine brand lead, notes that Agronomy Week was created as an industry-wide celebration. “We’re proud to promote recognition for agronomic team members throughout our industry,” he says. “These dedicated professionals work closely with farmers throughout the growing season, guiding key decision-making and monitoring crop performance to help them maximize their success.” During Agronomy Week, farmers, regardless of seed brand, can pay tribute to their agronomic team by nominating up to three individuals. U.S. farmers who submit nominations will be entered into a sweepstakes for a chance to win a daily prize as well as the grand prize – tickets to a NASCAR race for one farmer and up to three members of their agronomic support team. Farmers can nominate their agronomic professionals and enter the sweepstakes at AgronomyWeek.com or by posting the professionals’ names on the DEKALB Asgrow Facebook page or Twitter with #AgronomyWeek and #contest.
Tuesday’s closing grain bids
March 27th, 2018
St Joseph |
|
Yellow Corn |
3.41 – 3.48 |
White Corn |
no bid |
Soybeans |
9.61 – 9.64 |
LifeLine Foods |
3.52 |
|
|
|
Atchison |
|
Yellow Corn |
3.56 – 3.58 |
Soybeans |
9.64 |
Hard Wheat |
4.19 |
Soft Wheat |
3.59 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.58 |
White Corn |
no bid |
Soybeans |
9.75 – 9.80 |
Hard Wheat |
4.54 |
Soft Wheat |
4.07 |
Sorghum |
5.96 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.