This report contains supply and demand use estimates for the corn, soybean, rice, and cotton markets.
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The Crop Production report issued by USDA’s National Agricultural Statistics Service (NASS) forecasted corn production down from 2023 and soybean production up from last year. Corn production is down 1% from last year, forecast at 15.1 billion bushels; soybean growers are expected to increase their production 10% from 2023, forecast at a record high 4.59 billion bushels.
Average corn yield is forecast at record high 183.1 bushels per acre, up 5.8 bushels from last year. NASS also forecasts record high yields in Idaho, Illinois, Indiana, Iowa, Louisiana, Michigan, Nebraska, South Dakota, Washington, and Wisconsin. As of Aug. 4, 67% of this year’s corn crop was reported in good or excellent condition, 10 percentage points above the same time last year.
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Congressman Troy A. Carter, Sr. (D-LA) and Congressman Mike Flood (R-NE) introduced the bipartisan Sustainable Aviation Fuel Information Act. This bill directs the United States Energy Information Administration (EIA) to include Sustainable Aviation Fuel (SAF) on their weekly and monthly reports, consistent with other fuel types that the agency regularly tracks.
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As the cotton season progresses in Louisiana, there have been several reports of potassium deficiency. Potassium deficiency can weaken the plant, making it easier for plant pathogens to attack. It is very common to see fungal leaf spots on potassium stressed plants. Although pre-mature defoliation due to disease is possible, it is most likely the nutrient deficiency that is the leaf-dropping culprit.
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A bipartisan group of lawmakers is introducing a bill that would require the U.S. Energy Information Administration (EIA) to provide more weekly and monthly reports on Sustainable Aviation Fuel (SAF) production.
Rep. Mike Flood, R-Neb., and Rep. Troy Carter, D-La., introduced the bill Sustainable Aviation Fuel Information Act with four other co-sponsors. The bill would require the more SAF weekly and monthly reports consistent with other reports published by the EIA.
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Do you ever wish that you could grab corn on the go at any hour, 24-7, day or night? If you're in Louisiana, I'm here to tell you that you're in luck.
While some Louisianans are just discovering them, 24-hour corn vending machines have been around since at least 2020, providing a unique convenience for hunters and farmers alike. Mitch Rabalais recently shared a post on X (formerly Twitter) highlighting a corn vending machine in Rayville, Louisiana, bringing renewed attention to this practical solution that aligns perfectly with the state's outdoor culture.
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Louisiana agriculture generates approximately $3 billion in sales each year, but in most years agricultural productivity is negatively affected by hurricane damage. Louisianans are familiar with the devastation and loss of life and property that can accompany a hurricane event as the state experiences, on average, one hurricane every three years. The total economic losses from a single hurricane can reach tens of billions of dollars, while agricultural losses can exceed one billion dollars. Louisiana is a major agricultural producer for the United States, but the structures, livestock, and crops are highly exposed to extreme wind and flooding during hurricane events.
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In the 11 coastal parishes we consult in, lack of rainfall has not been a problem. Many areas have already exceeded the mean annual rainfall accumulation, and it’s not even August. We have already in some areas received in excess of 65 inches, so we are certainly experiencing the opposite of what we dealt with last year.
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Pinnacle Asset Management, L.P., a New York-based alternative asset management firm focused on global commodities markets, today announced that its portfolio company Viserion Grain, LLC, a subsidiary of global agricultural merchant Viserion International Holdco, LLC, has acquired four grain elevator assets from Greenfield Grain, LLC. The assets are located in Parkdale, Arkansas, and Dunn, Crowville, and Lake Providence, Louisiana. Terms of the transaction were not disclosed.
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The ongoing dispute with Mexico over genetically engineered corn has been a significant issue for some time.
U.S. Trade Representative Ambassador Doug McKalip reaffirmed the U.S. commitment to resolving the issue, expecting a decision this fall. The dispute began after Mexico’s plan to block genetically engineered corn imports triggered concerns among U.S. corn growers. McKalip emphasized the broader impact on ag trade saying, “We cannot allow trading partners to play loose with the science.”
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Crop damage caused from bears in Franklin Parish was minimal.
This was the assessment given by Johnny Berry, large carnivore biologist for Louisiana Department of Wildlife and Fisheries (LDWF) to Police Jury members at their regular monthly meeting held on Thursday, July 11.
The number one crop, according to Berry, that suffers bear damage is corn with wheat being second most damaged crop in Louisiana.
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The 2024/25 U.S. corn outlook indicates larger supplies, greater domestic use and exports, and slightly lower ending stocks. Beginning stocks for corn were lowered 145 million bushels largely upon greater use forecasted for 2023/24. Exports were raised by 75 million bushels based on current outstanding sales and shipments to date. Feed and residual use is up 75 million bushels based on indicated disappearance in the Grain Stocks report for June.
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The National Corn Growers Association, joined by five other commodity groups, sent a letter to Department of Commerce Secretary Gina Raimondo asking her to consider the impacts on farmers as she reviews a petition by the agricultural chemical company Corteva that would place duties on imports of the herbicide 2,4-D.
“Restricting imports of 2,4-D will have wide-ranging consequences for farmers,” the letter said. “American farmers cannot solely rely on Corteva, which is the only domestic supplier of 2,4-D, because there is not enough supply to meet demand.”
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The USDA recently released its annual Acreage Report which provides markets a more accurate idea of spring planting progress and what potential supply implications may be in store for the 2024 crop year. On the demand side, USDA also released its Quarterly Grain Stocks report which shows usage rates between March 1, 2024 and June 1, 2024. These changes in supply levels will impact 2023/24 ending stocks and 2024/25 beginning stock levels which will subsequently be reflected in the July World Agricultural Supply and Demand Estimates report.
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On Friday June 28th the USDA released its annual Acreage report. The report estimates planted acreage of principal crops based on producer surveys conducted in the first two weeks of June. Nationally, principal acres planted were estimated at 315.177 million acres, up 1.866 million acres compared to the March Prospective Plantings report and 4.424 million acres lower than last year (Table 1). Southern states accounted for 22.8% of principal crop acreage.
Southern states account for 75% of rice production nationally, with Arkansas the largest producer. Rice acres planted were unchanged in Texas and Mississippi, declined 30,000 acres in Arkansas and increased 30,000 acres in Louisiana.
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