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

    Cotton in Southwest – Early Yield Reports Good; Oklahoma Needs Rain – AgFax8-26

    Grain TV: Sept.-Nov. Soy Spread Unwinds8-26

    Weather, Insects, Equipment Insurance, Health Issues – What Else? – DTN8-26

    DTN Livestock Close: Oversold Lean Hog Futures Move Sharply Higher8-26

    DTN Fertilizer Trends: Prices Unlikely to See Significant Declines8-26

    Doane Cotton Close: Dec. Tops 40-Day Average8-26

    Will High Yields Rescue 2014 Crop Returns? Not for Many.8-26

    AFB Grain-Soybean Close: Big Drop in Soy, Corn Down, Wheat Mostly Higher8-26

    AFB Cotton Close: Dec. Continues to Work Higher8-26

    AFB Rice Close: Trades Lower withing Yesterday’s Range8-26

    Your Farm Business and the Affordable Care Act8-26

    DTN Cotton Close: Highest Finish in a Month8-26

    AgFax Grain Review: Midwest Storage Concerns; Cereal Rye Makes Good Cover Crop8-26

    DTN Grain Close: Steady To Lower; September Beans Plummet8-26

    USDA: Weekly National Peanut Prices8-26

    DTN Livestock Midday: Hog Futures Lead Complex Higher8-26

    DTN Grain Midday: Soybeans Leading Trade Lower8-26

    Pork: U.S. Exports to Japan Increase but Competition is Growing — DTN8-26

    Arkansas: UA Cotton Field Day Slated Sept. 9 at Manila8-26

    DTN Cotton Open: Futures Move Slightly Higher8-26

    Missouri: Fisher Delta Center Field Day Set Sept. 2 in Portageville8-26

    DTN Livestock Open: Cattle Pits Likely to Start Lower8-26

    DTN Grain Open: Wheat Steady, Corn and Beans Lower8-26

    Keith Good: Farm Incomes, Capital Spending Show Decline in 2nd Quarter8-26

    Doane Cotton Close: Finishes Down Very Slightly8-25

    Corn Rootworm Researchers Handcuffed by Time — DTN8-25

    Good on Grain: Looking for a Corn Consumption Response8-25

    DTN Fertilizer Outlook: Domestic Ammonia Prices Increase8-25

    Environmental Health: Farm-Based Nitrogen Emissions Unavoidable, Can Be Minimized8-25

    Brazil Soybeans: Prices Slide as Acreage Rises — DTN8-25

    Flint on Crops: Stress Avoidance Critical for Crops — and People8-25

    Shurley on Cotton: Prices Show Faint Signs of Life8-25

    Cleveland on Cotton: Heavy Hat Sitting on 67-68 Cent Mark8-22

    Rice Crop: Harvest Progresses in Texas, Louisiana; Arkansas Farmers Unpaid8-22

    Rice Market: Futures Push to New High Before Hit with Selling Pressure8-22

    Peanuts – Drought, Dry-Weather Pests Persist in Lower Southeast – AgFax8-22

    Southern Soybeans – Midsouth Harvest Widens – AgFax8-22

    Rice Harvest Starts In Arkansas, Barely – AgFax8-22

    Cotton In Midsouth – Bollworms Build – AgFax8-22

    Mississippi Hunting: Plant Proper Fields for Upcoming Dove Season8-22

    Taxes: Donating Crops Can Mean Substantial Tax Savings8-22

    Georgia Peanut Commission Promotes Consumption Through Sporting Events8-22

    USDA: Peanut Price Highlights8-22

    Georgia: Pecan Growers Association Field Day, Tifton, Sept. 48-22

    Mississippi Soybeans: Growers Anticipate Record Yield8-22

    Farming on the Mother Road: Change is Operative Word in New Mexico – DTN8-22

    Mississippi: Cool-Season Food Plots Benefit Wildlife, Diversity8-22

    Beef Checkoff Effort Stalls – DTN8-21

    Farming on the Mother Road: Amarillo, Heart of Cattle Feed Country – DTN8-21

    Biofuels: Nebraska Switchgrass Cultivar Provides Promise – DTN8-21

    Louisiana: Rice Disease Field Tour, Crowley, Aug. 268-21

    Chumrau on Wheat: Large World Supply Is Certain, Quality Is the Question8-21

    U.S. Grain Transportation: STB Takes Steps to Resolve Rail Backlog8-21

    U.S. Drought Outlook: Improvement Across Southwest, California Still Dry8-21

    U.S. Energy: Midland Crude Prices Falling Below Cushing Prices8-21

    Gasoline Prices: Decrease by 3 Cents8-21

    Propane Stocks: Up 2.5M Barrels8-21

    Diesel Prices: Average Drops 1 Cent8-21

    North Carolina Soybeans: Cause of Leaf Yellowing, Curling Unknown8-21

    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