Thursday, June 12, 2014
ky-corn-earfill

AgFax Grain Review: Corn Prices Could Drop 20%; Iowa Approves Soybean Research Center

AgFax.Com - Your Online Ag News Source


Markets/Trade

  • Myra Saefong reports for The Wall Street Journal’s Market Watch that high expected corn production this season could cause corn prices to drop by 20% by the year’s end. Capital Economics currently predicts corn prices to end the year at $3.50.
  • AgriMoney.com reports that rain and hail damage in some of the U.S.’s key producing grain states cause a slight drop in crop conditions, but not enough to boost prices. The general trade expectation this week was for an increase in corn conditions of 3-4% in the good-excellent category while the weather damage resulted in a 1% drop instead. 75% of the crop remains in good-excellent condition however, while soybeans suffered minimal damage or delays, resulting in an overall bearish tone.
  • Sutanuka Ghosal reports for India’s Economic Times that expectations of lower rainfall this year combined with an ongoing heatwave has Indian soybean farmers worried about their crop prospects this season as high temperatures are drying out soils and a late start to the monsoon would delay planting. Domestic prices are already climbing on supply concerns for livestock feed and exports.

Production

  • An Iowa State University release on AgWeb.com reports that Iowa’s Board of Regents approved the development of a joint Soybean Research Center between Iowa State University and the Iowa Soybean Association which would be located as part of the ISU Agronomy Hall. The Center would focus on improving soybean acres, productivity, and profitability to help U.S. farmers meet rising global demand in an efficient and sustainable manner while continuing to provide high quality beans.
  • A DuPont Pioneer release on AgWeb.com reports that Pioneer is funding a University of Wisconsin study to update soybean nutrient recommendations. Current recommendations are based on research from over 50 years ago, and genetics and agronomic practices have changed significantly since then. The study is expected to take 3 years to complete and will enable growers to make more efficient and timely use of nutrient applications and hopefully improve yields and productivity.
  • Donnelle Eller reports for The Des Moines Register that Ceres, a group of environmental sustainability investors, has released a report showing that current U.S. corn production practices are unsustainable. The two primary points of contention in the report are unsustainable water usage through irrigation and overapplications of fertilizers, particularly nitrogen. 87% of the country’s irrigated corn is in high risk, dry areas, and relies primarily on pumping water from already strained underground aquifers. If irrigation practices don’t change, eventually there won’t be enough water left to support crops. Additionally, many producers continue to overapply nitrogen with the result that much of what is placed in the field gets washed into lakes and rivers and a fair amount making it’s way down into the Gulf of Mexico.

Tags: , , , , , , , , , , ,


Leave a Reply

Name and Email Address are required fields. Your email will not be published or shared with third parties.

Sunbelt Ag News

    DTN Cotton Open: Trades Lower in Early Going7-29

    DTN Livestock Open: Lean Hog Futures on Defensive7-29

    DTN Grain Open: Futures Falter, Start Lower7-29

    Keith Good: Bugs’ Resistance to GMO Corn in Brazil Proving Costly7-29

    Grain TV: Increased Soybean Demand Rallies Market7-28

    Doane Cotton Close: Rebounds from Oversold Conditions7-28

    DTN Livestock Close: Feeder Futures Explode to New Record Price Levels7-28

    AFB Grain-Soybean Close: Wheat Unable to Follow Corn, Soybeans Higher7-28

    AFB Cotton Close: Moves Higher in Narrow Range7-28

    AFB Rice Close: Futures Down Slightly7-28

    Crop Progress: Corn, Soybean Conditions Decline, Still at Historical Highs – DTN7-28

    DTN Cotton Close: Higher on Suspected Weekend Business7-28

    DTN Grain Close: Soybeans Rally on Dry Forecast, Exports7-28

    DDGs: China Issues New Import Rules, U.S. Unlikely to Comply – DTN7-28

    Cattle: Minimizing the Risk of Scours — DTN7-28

    Good on Grain: Storing the 2014 Corn Crop7-28

    DTN Livestock Midday: Futures Pull Back from Early Highs7-28

    DTN Grain Midday: Soybeans and Corn Up, Wheat Lags7-28

    DTN Fertilizer Outlook: Domestic Ammonia Prices Down Slightly7-28

    Flint on Crops: Challenges for Farmers Keep Coming, Keep Changing7-28

    USDA Commentary: Weekly Cotton Markets, Weather by Region7-25

    Rose on Cotton: No Pleasure in this Market Made for Bears7-25

    Rice Market: U.S. Futures Decline as Global Prices Rise7-25

    Rice Crop: Harvest Begins Slowly in Louisiana and Texas7-25

    Rice Commentary – Rice Farmers Need to Consider a New Business Plan7-25

    Leave Your Guns at the House, Boys.7-25

    Peanuts: 15% Of Crop Ungathered In Key Argentine Production Area7-25

    Rail Car Delays Causing Dread Among Elevator Operators – DTN7-25

    Catfish Production: Water Surface Acres at 63,700 Acres7-25

    USDA: Peanut Price Highlights7-25

    Arkansas: New iPhone App Simplifies Farmers’ Finances7-25

    Taking the Risk Out of Buying Used Equipment — DTN7-25

    North Carolina: Rediscovering Grain Sorghum — DTN7-25

    Peanuts: Worms Still Building In SE; Rains Boost West’s Crop – AgFax7-25

    Shurley on Cotton: Prices Try to Stabilize, Still Show Weakness7-25

    Southern Soybean Insect Situation Gets Complicated – AgFax7-25

    AgFax Wildlife Review: Wild Hogs Damaging Levees in Louisiana7-25

    Ethanol: Final 2014 RFS Release ‘Imminent’ – DTN7-24

    Doane Cotton Close: Prices Break Out of Range Lower7-24

    Rice – Arkansas, Mississippi – Blast Becomes Major Concern – AgFax7-24

    New Rural Infrastructure Fund Established — DTN7-24

    U.S. Grain Transportation: Wheat Demand Increases, Inspections Rise7-24

    2014 Farm Bill Decisions: Base Acre Reallocation Option7-24

    Midwest Grain: Pull the Fungicide Trigger Now? It Depends. – AgFax7-24

    Louisiana: Sodium Nitrite Explored for Wild Hog Control7-24

    U.S. Energy: Refineries Running at Record Levels7-24

    Gasoline Prices: Show 4-Cent Decrease7-24

    Propane Stocks: Continue to Rise7-24

    Diesel Prices: Average Declines by 3 Cents7-24

    Corn: Pollination is One of Nature’s Miracle – DTN7-23

    Wheat Tour Sees One of the Best Crops in Years – DTN7-23

    10 Arkansas and 2 Tennessee Counties Designated Natural Disaster Areas7-23

    Soybeans: Is the 2014 Average Yield Headed for a New Record?7-23

    Drones Monitoring the Garden or Your Crop? One Is Legal, One Is Not.7-23

    Cotton In The Midsouth – Plant Bugs Persist As Bollworms Arrive – AgFax7-23

    Cotton – Plant Bugs, Stink Bugs Overlapping In Parts Of Southeast – AgFax7-23

    Sunbelt Ag Events

     

    About Us

    AgFax.Com covers agricultural trends and production topics, with an emphasis on news about cotton, rice, peanuts, corn, soybeans, wheat and tree crops, including almonds, pecans, walnuts and pistachios.

      

    This site also serves as the on-line presence of electronic crop and pest reports published by AgFax Media LLC (formerly Looking South Communications).

        

    Click here to subscribe to our free reports.

      

    We provide early warnings and confirmations about pests, diseases and other factors that influence yield. Our goal is to quickly provide farmers and crop advisors with information needed to make better and more profitable decisions.

         

    Our free weekly crop and pest advisories include:

    • AgFax Midsouth Cotton, covering cotton production and news in Alabama, Arkansas, Louisiana, Mississippi, Tennessee and Missouri.

    • AgFax Southeast Cotton, covering cotton production and news in Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia.

    • AgFax Southwest Cotton (new for 2013!), covering cotton production and news in Texas, Oklahoma, Kansas and New Mexico.

    • AgFax West (formerly MiteFax: SJV Cotton), covering California cotton, alfalfa, tomatoes and other non-permanent crops in California's Central Valley.

    • AgFax Rice covering rice production and news in Arkansas, Louisiana, Mississippi, Missouri and Texas.

    • AgFax Peanuts, covering peanut production in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Texas and Virginia.

    • AgFax Southern Grain: covering soybeans, corn, milo and small grains in Southern states.

    • AgFax Almonds, covering almonds, pistachios, walnuts and other tree crops in California's Central Valley.

    • AgCom 101, providing guidance to ag professionals involved in social media.

    Our newsletters are sponsored by the following companies: FMC Corporation Chemtura Dow AgroSciences.

          

    Mission statement:

    Make it as easy as possible for our community of readers to find and/or receive needed information.

              

    Contact Information:

    AgFax Media. LLC

    142 Westlake Drive Brandon, MS 39047

    601-992-9488 Office 601-992-3503 Fax

    Owen Taylor Debra L. Ferguson Laurie Courtney

          

    Circulation Questions?

    Contact Laurie Courtney