Several Webinars about crops to be grown this upcoming season have been scheduled by the Louisiana Agricultural Consultants Association.
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Corn and soybean prices have risen sharply since mid-August 2020. Smaller-than-expected 2020 U.S. harvests of both corn and soybeans are a key reason for the price rally. But just as important is the rise in exports of both crops to overseas destinations — primarily China. The increase in China’s demand for feedstuffs is tied to the resurgence in the Chinese pork sector as the country attempts to rebuild its hog herd and boost the supply of pork to Chinese consumers.
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China’s historic buys last week seem to come with nervousness from other major importers. Arlan Suderman of StoneX says after USDA announced sales of 80.3 million bushels of corn to China early last week, but Wednesday’s sales to China also revealed purchases by “unknown destinations” that totaled 8.4 million bushels. Suderman said that could be an indication that other buyers are getting nervous.
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Corn prices climbed double digits on Tuesday. The market was fueled by news China made its biggest buy of corn in six months.
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If you still have grain stored on the farm, are you confident it will be as high of quality when you pull it out as when you put it in? Gary Woodruff, district sales manager and grain conditioning expert for GSI, suggests taking steps to protect your investment inside your bins.
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Corn prices have skyrocketed since last fall. “They are knocking on the door at $5.35 per bushel,” said ag economist Dan Basse, president of AgResource Co. in Chicago, during a Jan. 14 Dairy Signal webinar sponsored by Professional Dairy Producers.
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Maryland farmer Trey Hill pulled in a healthy haul of corn last fall and then immediately planted rye, turnips, clover and other species, which are now spreading a lush green carpet over the soil. While his grandfather, who started the family farm along the Chesapeake Bay, always planted in the spring in a clean field, in Hill’s approach to farming, “you never want to see the ground.”
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Late last night, the Environmental Protection Agency approved three small refinery exemptions (SRE), reversing one denial from 2018 and granting two for the 2019 compliance year. The EPA granted two 2019 exemptions, which would erase another 150 million gallons of renewable fuel demand.
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China said on Monday it was set to approve the safety of another genetically modified (GMO) corn variety and a GMO soybean, both produced by Beijing Dabeinong Technology Group Co Ltd.
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The market responded in a bullish way to the January WASDE report for feed grains and oilseeds. Export sales stemming from increased Chinese demand for U.S. agricultural products (e.g. corn and soybeans) is a key factor behind the gains.
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There will be an Advanced Corn Production in 2021 meeting on January 28, 2021 at the Scott Center in Winnsboro, LA. The topics are grouped together by similar timing during the production season
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Tightening 2020/21 U.S. and South American corn and soybean production estimates led USDA to slash global ending stocks, powering price growth in the aftermath of USDA’s January 2021 World Agricultural Supply and Demand Estimates (WASDE) reports Tuesday.
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This report contains the results from the 2020 December Agricultural Survey.
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This report contains the results from the 2020 December Agricultural, Rice Stocks, and Grain Stocks surveys.
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Last week, Bloomberg News reported that, “China is far away from meeting its U.S. trade-deal commitments, with the latest data showing it’s imported just over half of the American goods it promised to buy in the first year of the phase-one agreement.
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