Soybean, and to some extent corn prices, continue to recover from the recent market lows. The University of Illinois reports July 2016 soybean futures increased $2 per bushel, or 23 percent, March first to May 13th. Meanwhile, July 2016 corn futures increased 35 cents, or 10 percent, from March 31st to May 13th. University of Illinois agricultural economist Darrel Good says, however, that soybean basis levels have generally weakened over the past two and a half months so that cash prices have increased less than futures prices. Corn basis has been variable, but generally steady since late March. Helping the market in the U.S. is the lower South American production forecasts. That forecast brings the potential of improved export demand for U.S. corn and soybeans. USDA now forecasts U.S. corn exports during the current year at 1.725 billion bushels, 75 million more than forecast last month.
Category: Agriculture
UN committee says glyphosate not likely to cause cancer
Another report finds the weed-killer glyphosate is not likely to cause cancer. The latest findings come from a safety review by health, agriculture and food experts from the United Nation’s Food and Agriculture Organization, along with the World Health Organization. The review concludes glyphosate is “unlikely to pose a carcinogenic risk to humans” who become exposed to glyphosate through food. The weed-killer is commonly used on farm crops and in gardens. The review joins the latest in a list of similar findings following a conflicting review by the International Agency for Research on Cancer. The IARC claims glyphosate is a likely carcinogen to humans. A report by Reuters says the conflicting reports further complicate the argument between the IARC and environmental regulators with the European Union and the United States.
House panel questions EPA on glyphosate report
The House Committee on Science, Space, and Technology has launched an investigation into the Environmental Protection Agency’s review on glyphosate. The committee joins the House Agriculture Committee, which is also pressing for an explanation from the EPA. Pro Farmer’s First Thing Today says the Science, Space and Technology committee is questioning why the agency pulled a report that said the chemical was likely not carcinogenic. The committee is questioning whether reasons other than science motivated the EPA to pull the report, as well as 13 other related documents, offline. EPA said the documents were published “inadvertently” and were “preliminary.” But documents were marked “final” and a memo that was part of the report described it as the committee’s “final cancer assessment document.”
Legislation banning packer ownership of livestock introduced
Iowa Republican Senator Chuck Grassley introduced a bill last week that would make it unlawful for packers to own, feed, or control livestock intended for slaughter. The measure would amend the 1921 Packers and Stockyards Act and prohibit arrangements that give packers managerial, supervisory, and operational control of animals. The National Pork Producers Council says it supports the right of all producers and opposes any legislation that hinders market access, like Grassley’s bill. NPPC officials say the organization will review the text of the bill when it becomes available. Grassley introduced similar measures in 2007 and 2012.
Monday’s daily cash grain bids
May 16th, 2016
St Joseph |
|
Yellow Corn |
3.66 – 3.70 |
White Corn |
no bid |
Soybeans |
10.04 – 10.19 |
LifeLine Foods |
3.64 |
|
|
|
Atchison |
|
Yellow Corn |
3.77 – 3.78 |
Soybeans |
9.99 |
Hard Wheat |
3.78 |
Soft Wheat |
2.99 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.92 |
White Corn |
4.17- 4.25 |
Soybeans |
10.40 |
Hard Wheat |
4.32 |
Soft Wheat |
3.25 |
Sorghum |
6.05 |
For more information, contact the 680KFEQ Farm Department.
816-233-8881.
Bee health survey find eight percent less honey bee colonies in 2016
A recently released study by USDA shows the number of honey bee colonies dropped eight percent to start 2016, compared to 2015. The first ever Honey Bee Colony Loss Survey questioned more than 20,000 honey beekeepers about the number of colonies, colonies lost, colonies added, and colonies affected by stressors. USDA says the results will provide a baseline about honey bee losses and can help guide honey bee management decisions in the United States. NASS created the survey questions with input from beekeepers and researchers. USDA says the results will allow the Agency and other federal departments to create a more unified approach to implementing the National Strategy on bee health, which was unveiled in May of last year.
Kubota to acquire Great Plains Manufacturing
Kubota USA announced Friday the company will purchase Great Plains Manufacturing based in Kansas. Kubota USA is based in California and owned by the parent company, Kubota Corporation, of Japan. Great Plains includes the Land Pride brand, which manufactures grounds maintenance tools such as mowers, rototillers, rotary cutters, and dirt-working equipment. The company says that by acquiring Great Plains, Kubota will expand the company’s long-time partnership with Land Pride and will include all five Great Plains divisions. Company leaders say that for the foreseeable future, all five Great Plains divisions will continue to operate as they have been with their infrastructure intact, according to Kubota.
Chinese cotton auction ahead of 2015 totals
Purchases in the first week of China’s cotton auctions are already well ahead of total sales for 2015. Pro Farmer’s First Thing Today reports that in the first week of daily cotton auctions that began May third, China sold 120,350 metric tons of the fiber. The sales, which largely entailed imported supplies, equated to nearly the entire amount put up for sale in 2015 and have already nearly doubled last year’s total sales. USDA says this indicates a critical shortage of high-grade cotton for China’s textile sector. China plans to auction two million metric tons of cotton between May and August. China will likely raise the daily sales rate of 30,000 metric tonnes, according to the USDA office in China, as China appears buyers are welcoming this year’s offer price.
Lawmakers want EPA to explain early release of glyphosate report
The House Agriculture Committee wants the Environmental Protection Agency to explain why the EPA accidentally published a final report early. Documents released last month online said glyphosate was not likely to be carcinogenic to humans. However, EPA pulled the report three days after publishing, saying the documents were not ready to be released. The documents indicated the information was the final report from the EPA and also included an assessment of atrazine. Lawmakers and agriculture industry groups together claim the errantly published documents indicate “problems with EPA’s management of its chemical review and publication process,” according to Reuters. Lawmakers also asked what steps still need to be taken to finalize and issue the glyphosate report. EPA officials say the agency will “respond appropriately” to the letter.
Bayer could divest assets to acquire Monsanto
Speculators say Bayer’s potential bid for Monsanto may lead to the company selling some assets to help fund its quest for the seed company worth an estimated $43 billion. Bayer has held preliminary discussions internally and with advisers on an offer for Monsanto, according to Bloomberg, which reports deliberations remain private. Market experts say Bayer could shed its stake in its plastics unit and its animal-health business to make the acquisition work. BASF is also reportedly considering a bid for Monsanto. The potential bids are just the latest in a line of acquisitions within the industry. Dow Chemical and DuPont agreed to a merger in December of last year, and ChemChina agreed to Purchase Syngenta earlier this year. Both deals face U.S. regulatory scrutiny.