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 …

China buys more U.S. soybeans despite tensions

For the second day in a row, private exporters reported the sale of U.S.-grown soybeans for delivery to China, said the USDA on Tuesday. Since July 14, Chinese companies have purchased 1.3 million tonnes of American soybeans and 1.9 million tonnes of U.S. corn amid rising tensions between the …

China makes its largest ever purchase of U.S. corn

Far behind on its “phase one” commitments with the United States, China bought 1.76 million tonnes of U.S. corn, its largest purchase ever of American corn and also the largest sale of U.S. corn to any buyer in three decades, said the USDA on Tuesday. It was the second major corn purchase by …

Farmers fall short of corn planting forecast

Deterred by trade war, the pandemic, and a bit of bad weather, U.S. farmers effectively chopped 1 billion bushels out of this year’s corn crop by planting far less of the crop than they had planned in early spring, USDA data indicated on Tuesday. “This was a huge acreage …

Record-high world grain production for second year in a row

With production surging by 4.4 percent, corn will drive world cereal grain production to record levels in 2020/21, said the UN Food and Agriculture Organization in its first forecast of the new crops. It was the second forecast in a week of record global output as the planting season ends in the northern hemisphere.

Soybean sprint underway as planting season rolls along

Farmers have planted two-thirds of the soybean crop — more than 54 million acres — a breath-taking change from a year ago when barely more than a quarter of the crop was in the ground by late May due to a persistently rainy spring, said the weekly Crop Progress report on Tuesday. Growers sowed …

Farmers’ shift to soybeans won’t avert grain glut

Low market prices will deter farmers from planting as much corn as they planned a month ago, but a record corn crop is still on the horizon, said two Purdue University economists on Monday. The mammoth crop would create the largest corn stockpile since the late 1980s while the already-large soybean stockpile grow bigger still.

Crop outlook tainted with uncertainty

Corn and soybean plantings by U.S. farmers are sure to surge this spring, according to USDA and private analysts, but the coronavirus pandemic is creating uncertainty about whether there will be enough buyers for a bumper crops this fall. The economic slowdown is likely to reduce demand for corn ethanol, hitting corn growers in the wallet, but the alternative crop for many farmers, soybeans, faces a glut of its own.