Drought in Plains a concern for U.S. corn and soy crops

Drought in the northern Plains, increasingly important in corn and soybean production despite the region’s prominence as a wheat-growing region, may foil expectations of near-record U.S. corn and soybean harvests. North Dakota and South Dakota are parched as the planting season begins, …

Record corn and soybean crops possible as farmers chase high prices

Responding to strong exports and expectations of a U.S. economic recovery, farmers will plant 92 million acres of corn and 90 million acres of soybeans this spring, pointing to a record soybean crop and possibly the largest corn harvest ever, said the USDA on Thursday. Chief economist Seth Meyer also said farm exports would be a record $157 billion this year, including the largest-ever exports to China of $31.5 billion.

Largest corn sale to China since July

Private exporters reported the largest sale of U.S.-grown corn to Chinese buyers in nearly six months, with 1.36 million tonnes for delivery this marketing year, said the USDA on Tuesday. It was only the fifth time since 1994 that corn sales to China exceeded 1 million tonnes in a single day.

Highest corn and soybean prices since commodity boom, says USDA

U.S. farmers, who harvested some of their largest corn and soybean crops ever last fall, will reap the highest season-average prices for the crops since the heady days of the commodity boom that ended in worldwide surpluses seven years ago, said the government on Tuesday. Commodity prices are on the rise due to tightening global supplies and large purchases by China, the first country to rebound economically from the pandemic.

Corn export boom to China likely to soften by fall 2021

China is buying huge amounts of U.S. corn as it rebuilds its hog herd and recovers from the pandemic but its appetite for imports could weaken by next fall, when U.S. farmers are expected to harvest their second-largest crop ever, said University of Illinois economists on Tuesday. Chinese imports of 13 million tonnes this year could taper to a still-large 10.5 million tonnes during the sales year that begins on Sept 1.

China sets monthly record for purchases of U.S. food and ag

Although it is likely to fall short of its “phase one” target, China purchased a record $4.8 billion of U.S. food, agricultural and seafood products during October, contributing to the surge in grain and soybean prices, analysts said on Monday. “The big question right now for …

U.S. corn and soy crops: Not quite as big now

In the space of two months, the USDA has shaved more than half-a-billion bushels from its estimate of this year’s corn harvest and pared the soybean forecast by a similar 3.5 percent. The crop are still bin-busters but they are more manageable than initially expected and should fetch much …

August takes the sheen off of U.S. corn and soybean crops

The USDA assessment of the condition of the corn and soybean crops nationwide took a beating from derecho damage in Iowa and droughty weather in the Midwest during August, said the USDA on Monday. The Crop Progress report listed 62 percent of corn and 66 percent of soybeans in good or excellent condition, compared to 72 percent of corn and 73 percent of soybeans in those categories at the start of month.

Trump visits derecho-hit Iowa, talks about China

President Trump spoke of large corn exports booked for delivery to China while assuring Iowans of “the full support of the federal government” in recovering from a derecho in a Tuesday visit. Iowa Gov. Kim Reynolds said agriculture — flattened crops and wind-blasted farmsteads — accounts for …