In the first report of soybean conditions for the growing season, USDA said at least 75% of the crop in these five states are rated good/excellent.
According to USDA’s Crop Progress report for the week ending June 9, Louisiana had the largest percentage of soybeans rated good/excellent, at 83%. Louisiana is the only state of the top-producing states that does not have any soybeans rated less than fair.
Read MoreBloomberg’s Clarice Couto reported this past Friday that “a surprising tax change in agriculture powerhouse Brazil has the potential to make soy grown in the world’s largest bean exporter less competitive with supplies from the US, according to a report from risk management firm Amius Ltd. The provisional measure, signed Tuesday by President Luiz Inacio Lula da Silva, limits the ability of Brazil’s commodity exporters and processors to monetize tax credits. To compensate, merchants will likely raise soy prices, making beans grown in Brazil less competitive with American soy, at least in the short term.”
Read MoreThe U.S. Department of Agriculture (USDA) will conduct the Soybean Request for Referendum May 6 through May 31, 2024, in county Farm Service Agency (FSA) offices.
The Soybean Promotion, Research and Consumer Information Act requires USDA to conduct a Request for Referendum every five years to determine if producers want to vote on continuation of the Soybean Checkoff Program. The last Request for Referendum was conducted in 2019.
Read MoreLouisiana's soybean planting progressed well in mid-April, exceeding the five-year average. However, heavy rains in mid-May slowed progress, with only 69% planted by May 12th, 2024. This lags behind last year's 76% at the same point. An article, “The Farmer's Forecast: More Soybean Planting Delays” indicates continued rain and potential wind/hail threats.
Read MoreThe 2024/25 U.S. corn outlook is for larger supplies, greater domestic use and exports, and higher ending stocks. The corn crop is projected at 14.9 billion bushels, 3 percent down from last year’s record as increases in yield helped partially offset decreased area. The yield projection of 181.0 bushels per acre is based on a weather-adjusted trend assuming normal planting progress and summer growing season weather, estimated using the 1988-2023 period.
Read MoreBefore harvested soybeans are sold, they must be graded for quality. These inspections can be inconsistent. LSU AgCenter engineer Kevin Hoffseth is working on methods to use cameras and computers to generate a more accurate analysis of soybeans.
Read MoreLouisiana's 2024 soybean planting season had a later start compared to last year but was ahead of the historical five-year average according to the latest USDA-NASS survey as of the week ending April 7th, 2024. Recent precipitation, particularly the heavy storms on April 10th, have likely slowed planting progress and may raise concerns about stand establishment due to factors such as soil crusting, hail damage, and flooding/saturated soils.
Read MoreAccording to Dow Jones' survey of market analysts, USDA is expected to announce 92.0 million acres of corn plantings in 2024, down from 94.6 million acres in 2023. For soybeans, 86.3 million acres are expected to be planted in 2024, up from 83.6 million acres in 2023.
Read MoreThe USDA’s National Agricultural Statistics Service is predicting a 3% increase in soybean planted area for 2024, according to the agency’s annual Prospective Plantings report, which was released March 28.
Read MoreA meeting of the Louisiana Soybean and Grain Research and Promotion Board (LSGRPB) has been scheduled.
The purpose for our meeting will be to review nominations to the United Soybean Board (USB). The LSGRPB nominates individuals to the US Secretary of Agriculture, USDA, for appointment to serve as a Board member on the USB.
Read MoreThe Louisiana Farm Bureau Federation is working with the Louisiana Fire and Emergency Training Academy in compiling the locations of grain bin rescue tubes across the state.
Grain bin rescue tubes are specialized pieces of equipment used by first responders to help safely remove someone trapped by flowing grain inside a grain bin or other grain storage facility.
Read MoreThe WASDE’s March outlook for 2023/24 U.S. corn remains relative to last month. The season-average corn price for producers has been lowered to $4.75 per bushel based on observed prices to date.
The outlook for U.S. soybean supply and use for 2023/24 also remains unchanged for March. While soybean crush is unchanged, the soybean meal extraction rate has been bumped up slightly, and soybean meal exports are mostly higher due to lower domestic use. The U.S. season-average soybean price forecast stays unchanged at $12.65 per bushel.
Read MoreThe court ruling revoking registration for three dicamba products designed to spray over dicamba-tolerant soybeans was the “shot heard around the world” in farmer circles. Roughly a week later, many let out a sigh of relief when U.S. EPA indicated that existing stocks of Engenia, XtendiMax and Tavium could be used if certain deadlines were met.
Read MoreSelf-sustaining from an economic standpoint, leadership at the United Soybean Board works on behalf of U.S. farmers to help them prosper in an ever-competitive global marketplace.
Read MoreIf you see a Midsouth farmer wandering along the road this season, odds are his car didn’t strand him and he’s probably not headed home from the bar now that Mardi Gras has ended. More likely, he’s searching for stinkbugs – and if so, he definitely has probable cause.
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