Pressure on the Federal Reserve is easing prices in the start of 2023, especially in the fuel corridor, according to Jordan Fife, President of BioUrja Trading.
With planting season around the corner, Fife says diesel in particular looks to be more reasonable for producers this year, as it’s trading 10% off from its peak a few weeks ago, and it’s given back almost all the gains it’s had over the year.
Read MoreAgroconsult expects Brazil to produce record corn and soybean crops in 2022-23, despite dry weather in the far southern state of Rio Grande do Sul. The firm expect Brazilian soybean production to reach 153.4 MMT, which is just below Conab’s official forecast of 153.5 MMT it forecast in December. Agroconsult projects total corn production at 130.9 MMT, including the first crop at 29.6 MMT and the safrinha crop at 101.3 MMT. In December, Conab pegged Brazil’s corn crop at 125.8 MMT, though that was based off an estimate of the first corn crop and projections for safrinha acreage and yield.
Read MoreGoodyear unveiled a tire with 90 percent sustainable materials at the Consumer Electronics Show (CES) last week.
The new tire, which has passed all regulatory and internal tests for road use, makes use of sustainable products such as soybean oil, rice husks, and pine resin, in place of standard compounds.
Read MoreFarmers in 11 Louisiana parishes and another 30 parishes and counties in Louisiana, Mississippi and Texas are eligible for disaster aid from the USDA. U.S. Secretary of Agriculture Tom Vilsack sent a letter to La. Governor John Bel Edwards dated December 20, 2022 that Loss Assessment Reports showed sufficient losses in those 11 parishes to warrant a secretarial disaster declaration.
Read MoreA letter is now in the hands of the chairs of U.S. Senate and House Appropriations Subcommittees on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies and the Ranking Republican Members on those subcommittees seeking aid for farmers and ranchers who suffered losses due to weather disasters in 2022.
Read MorePests have always been a yield-limiting problem soybean producers have faced in Louisiana. These pests can rob soybean farmers of both quantity and quality of grain. However, it was not until 2000 that a new invasive species arrived that significantly changed Louisiana soybean production forever.
Read MoreThe U.S. Department of Agriculture announced the appointment of 19 new farmer-leaders to serve on the United Soybean Board (USB). In addition, 24 farmer-leaders were reappointed. Forty-six leaders and alternates will serve three-year terms, and one new appointed member will serve a one-year term. Leaders will be sworn in for service during the USB December Meeting in St. Charles, Mo.
Read MoreDry weather has allowed for abnormally fast soybean harvest across the country. Farmers in Louisiana, Minnesota, Nebraska, and North Dakota have 100% of their beans out of the field, USDA reported Monday.
Read MoreDry weather has allowed for abnormally fast soybean harvest across the country. Farmers in Louisiana, Minnesota, Nebraska, and North Dakota have 100% of their beans out of the field, USDA reported Monday.
USDA’s National Agricultural Statistics Service (NASS) says there were 5.6 days suitable for fieldwork in Louisiana the week ending Sunday, Nov. 6.
Read MoreDespite the many challenges of 2022, the October USDA production forecasts released during harvest did not paint the grim picture many were dreading. For the Midsouth area, average yields of major row crops were down, as most would expect.
Read MoreThe 26th Annual National Conservation Systems Cotton & Rice Conference, the Southern Soybean & Corn Conference, the Delta States Irrigation Conference and the Southern Precision Ag Conference are headed to Baton Rouge, LA. The conferences are sponsored by Cotton Incorporated and US Rice Producers Association.
Read MoreThe 2022 LSU AgCenter soybean core block data is now available online. The data from previous years is also available at the LSU AgCenter. The soybean core block consists of three groups of soybean maturities (MG 3, 4, and 5).
Read MoreRestricted barge traffic on the Mississippi River is having an impact on the soybean and corn markets, although it’s more of an issue for soybeans.
“One of the big things hitting the news is that the Mississippi River, in particular the lower Mississippi River, is now very dry, water levels are very low, and barge traffic is restricted,” said Frayne Olson, grain marketing economist at North Dakota State University.
Read MoreThis month’s 2022/23 U.S. corn outlook is for reduced supplies, greater feed and residual use, lower exports and corn used for ethanol, and smaller ending stocks. Corn production is forecast at 13.895 billion bushels, down 49 million on a reduction in yield to 171.9 bushels per acre. Corn supplies are forecast at 15.322 billion bushels, a decline of 172 million bushels from last month, as lower production and beginning stocks are partially offset by higher imports.
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