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September soybean crush likely sets record
A new Reuters poll said soybean processors likely crushed a record number of soybeans in September as new facilities ramp up operations. That poll took place as market watchers continued relying on private estimates during the government shutdown. According to a note to clients from CoBank, the crush totaled 205.4 million bushels in September. If that’s accurate, that would be a ten percent month-over-month increase, and the highest on record for the month. On a daily basis, the poll said...
Commerce Department lowers duties on Moroccan phosphate fertilizer
One of the key components in the price farmers have been paying for fertilizer comes from the duties we had placed on phosphate fertilizer from Morocco. The United States is not a major producer of the key component in corn growing. Therefore, we must import much of...
U.S. Export Sales Report (11-2-23)
This week’s export sales came within expectations, even though those numbers were on the low side. Allendale commodity broker Greg McBride gave a breakdown of this week’s export numbers. However, there were some disappointments in the soybean meal numbers, especially...
Midwest region still thirsty for rain
Looking for moisture, and some should be coming. Even with the rainfall that has occurred across much of Iowa recently, the latest Drought Monitor shows virtually no change with over 98% of the state still in some form of drought designation. However, USDA’s Midwest...
USDA announces 2022 emergency relief program funding
USDA recently announced disaster-related funding for events that occurred in 2022 through the Emergency Relief Program. American Farm Bureau Federation Economist Danny Munch explains. There are two different paths for farmers to follow in the application process says...
Vilsack highlights USDA’s commitment to future generations in ag
Today, Agriculture Secretary Tom Vilsack addressed students, agricultural educators, and guests at the opening session of the 96th National FFA Convention and Expo before signing a Memorandum of Understanding with the organization formalizing a partnership to prepare...
Naig talks harvest and getting 2024 going
As we are coming to the end of the 2023 harvest, Mother Nature is still throwing us a few curveballs, to remind us how unhinged she has become. We have had warm days, cold days, and even some snow as we hope to wrap up. Iowa Ag Secretary Mike Naig tells us about what...
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Celebrating the past, present, and future of agriculture
The 36th annual Celebration of Agriculture dinner took place in Cedar Rapids last week to celebrate Iowa Ag Week. Both Iowa Ag Secretary Mike Naig and former U.S. Ag Secretary Sonny Perdue, who was this year’s featured speaker, were in attendance to highlight Iowa...
Grain stocks report shows more corn, beans in storage
The USDA’s Grain Stocks Report shows corn stocks in all positions on March 1, 2024, totaled 8.35 billion bushels, up 13 percent from March 1, 2023. Of the total stocks, 5.08 billion bushels were stored on farms, 24 percent higher than last year. Off-farm stocks were...
Unleashing potential with advancements in soybeans
The Research Center for Farming Innovation at Iowa Soybean Association features an on-farm research center, an analytics and insights team, and a conservation team. Christie Wiebbecke is the chief officer of research and conservation at Iowa Soybean Association and...
2024 farmland prices could be anybody’s guess
As we look ahead to the new growing season, one thing that will certainly be on the minds of producers and farm families is the acquisition of more land for either expansion of the family operation, or for beginning farmers looking to make a start. Of course, we know...
Quarterly Grain Stocks and Acreage numbers were good, but not miraculous
The grain markets were positioned to react to basically anything that came out of today’s Quarterly Grain Stocks and Acreage Report, so when the friendly numbers came in, the prices jumped upwards and held those gains through the end of the day. Allendale commodity...
