Too Much Moisture Hurting Indiana Soybean Yields

Jul 24, 2017 4

Too Much Moisture Hurting Indiana Soybean Yields

Rod King

Many parts of Indiana continue to get hit with 2, 3, and 4-inch rain events. This, on top of already saturated soils, is hurting soybean growth and root development. According to Rod King, with Brodbeck Seeds, “We just do not have a good root system under this crop.” He said, in many fields, the soil is so waterlogged that there is not enough oxygen for the plants.

He told HAT the lack of good root structure is keeping soybeans short and hurting yield potential, “In saturated soils, the root systems don’t grow well and, thus, the nitrogen fixation system does not develop. The lack of nutrient and nitrogen uptake is leading to small plants and, in some cases, the crop is moving backward.”

While there are some areas of the state where the beans look good, in many areas King says yields are going to be below average, “I am not very optimistic about yield, even if we get some dry conditions. Without a good strong plant, we cannot produce yield.”

In the latest USDA report, 47% of the Indiana soybeans were rated as good to excellent while 53% were rated fair to poor, with 5% of that being rated as very poor. Nationally, 57% of the soybeans were rated as good to excellent, down from the 61% a week ago.

King says corn pollination, overall, has been generally good and disease pressure has not been excessive. “The pollination I have seen has gone very well,” he stated.

According to USDA, 67% of Indiana corn is silking, slightly behind the average.  Indiana corn is rated as 47% good to excellent, but still the lowest rating in the Eastern Corn Belt.

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Too Much Moisture Hurting Indiana Soybean Yields

Jul 24, 2017 0

Too Much Moisture Hurting Indiana Soybean Yields

Rod King

Many parts of Indiana continue to get hit with 2, 3, and 4-inch rain events. This, on top of already saturated soils, is hurting soybean growth and root development. According to Rod King, with Brodbeck Seeds, “We just do not have a good root system under this crop.” He said, in many fields, the soil is so waterlogged that there is not enough oxygen for the plants.

He told HAT the lack of good root structure is keeping soybeans short and hurting yield potential, “In saturated soils, the root systems don’t grow well and, thus, the nitrogen fixation system does not develop. The lack of nutrient and nitrogen uptake is leading to small plants and, in some cases, the crop is moving backward.”

While there are some areas of the state where the beans look good, in many areas King says yields are going to be below average, “I am not very optimistic about yield, even if we get some dry conditions. Without a good strong plant, we cannot produce yield.”

In the latest USDA report, 47% of the Indiana soybeans were rated as good to excellent while 53% were rated fair to poor, with 5% of that being rated as very poor. Nationally, 57% of the soybeans were rated as good to excellent, down from the 61% a week ago.

King says corn pollination, overall, has been generally good and disease pressure has not been excessive. “The pollination I have seen has gone very well,” he stated.

According to USDA, 67% of Indiana corn is silking, slightly behind the average.  Indiana corn is rated as 47% good to excellent, but still the lowest rating in the Eastern Corn Belt.

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House Ag Ready to Hear NAFTA Witnesses

Jul 24, 2017 5
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House Ag NAFTA hearing

Congress moves into full NAFTA mode this week as the House Agriculture Committee opens a public hearing to prepare for renegotiations of the North American Free Trade agreement. Chairman Michael Conaway of Texas says trade and agriculture go hand in hand, so agriculture needs to make sure its interests are known and reflected in any new agreement.

“Trade is a big part of what is important to the success of production agriculture, and so with the renegotiation of NAFTA, which is entirely appropriate, we need to be sure that ag interests are well represented at the table throughout that full negotiation, much like they were with TPP during those negotiations.”

The hearing is set for 10 AM Wednesday.

“We’ll have a good slate of witnesses to talk to us and hopefully highlight the need that this NAFTA renegotiation take into consideration all the aspects of trade as it relates to agriculture in the United States.”

Conaway added, “The administration has already outlined key objectives for ag, such as expanding market opportunities and tightening enforcement, and I look forward to hearing from our witnesses about opportunities to achieve the best deal possible for American agriculture.”

Wednesday’s committee hearing is called Renegotiating NAFTA: Opportunities for Agriculture.

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House Ag Ready to Hear NAFTA Witnesses

Jul 24, 2017 0
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House Ag NAFTA hearing

Congress moves into full NAFTA mode this week as the House Agriculture Committee opens a public hearing to prepare for renegotiations of the North American Free Trade agreement. Chairman Michael Conaway of Texas says trade and agriculture go hand in hand, so agriculture needs to make sure its interests are known and reflected in any new agreement.

“Trade is a big part of what is important to the success of production agriculture, and so with the renegotiation of NAFTA, which is entirely appropriate, we need to be sure that ag interests are well represented at the table throughout that full negotiation, much like they were with TPP during those negotiations.”

The hearing is set for 10 AM Wednesday.

“We’ll have a good slate of witnesses to talk to us and hopefully highlight the need that this NAFTA renegotiation take into consideration all the aspects of trade as it relates to agriculture in the United States.”

Conaway added, “The administration has already outlined key objectives for ag, such as expanding market opportunities and tightening enforcement, and I look forward to hearing from our witnesses about opportunities to achieve the best deal possible for American agriculture.”

Wednesday’s committee hearing is called Renegotiating NAFTA: Opportunities for Agriculture.

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Drought, Prices Weaken Rural Midwest Bankers’ Outlook

Jul 24, 2017 6
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After rising to growth neutral for two straight months, the Creighton University Rural Mainstreet Index fell below the 50.0 thresholds for July, according to the latest monthly survey of bank CEOs in 10 Midwestern states. The index, which ranges between 0 and 100, tumbled to 40.7, its lowest level since November of last year, and down from 50.0 in June. Organizer Ernie Goss says drought conditions and weak grain prices are to blame, as they have attributed negatively to economic conditions.

For the month, the July farmland and ranchland-price index sank to 36.6 from June’s 40.0. The July farm equipment-sales index fell to 20.0 from 26.2 in June. Borrowing by farmers was very strong for July as the loan-volume index climbed to 81.5, the second highest reading on record, and up from 78.3 in June. Finally, the confidence index, which reflects expectations for the economy six months out, slumped to a weak 38.4 from 48.9 in June, indicating a continued pessimistic outlook among bankers.

Source: NAFB News Service

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Rain Continues to Stall Indiana Fieldwork

Jul 24, 2017 6

High temperatures and localized heavy rainfalls delayed harvest progress and spraying activities, according to Greg Matli, Indiana State Statistician for the USDA’s National Agricultural Statistics Service. Though the beginning of the week was mostly dry and hot, rain storms moved across the state towards the end of the week, leading to localized flooding and very humid air. The statewide average temperature was 77.8 degrees, 2.2 degrees above normal. Statewide precipitation was 1.77 inches, above average by 0.75 inches. There were 4.3 days available for fieldwork for the week ending July 23 up 0.8 days from the previous week.

Regionally, corn was 65% silked in the North, 64% in Central, and 77% in the South. Corn was 3% doughed in the North, 4% in Central, and 14% in the South. Corn rated in good to excellent condition was 55% in the North, 40% in Central, and 48% in the South. Soybeans were 65% blooming in the North, 70% in Central, and 67% in the South. Soybeans were 22% setting pods in the North, 27% in Central, and 38% in the South. Soybeans rated in good to excellent condition were 56% in the North, 41% in Central, and 48% in the South.

Weather patterns varied throughout the State, with the heaviest amounts falling in Northwest and South Central Indiana, which left both corn and soybeans in standing water.

Early planted soybeans appeared to be showing signs of improvement despite the rains, while late planted soybeans appear yellowed and stunted in some areas. Farmers applied fungicide to corn fields, due to the increase in rust from the hot and humid weather. Weed pressures have increased and have been challenging to remove given the above average rainfall.

Some pastures have been overrun with various weeds. Many acres of hay and straw were cut, but some were unable to be baled from the storm systems at the tail end of the week.

There were concerns about heat stress on livestock. Mint, cucumber, and potato harvest made decent progress this week. Wheat harvest is wrapping up throughout the State. Other activities included harvesting rye, hauling grain, attending county fairs, and mowing roadsides when the weather allowed.

Source: NASS

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Senate Committee Blocks E15 Bill

Jul 24, 2017 4
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The Senate Environment and Public Works Committee has halted a bill that would have allowed gasoline with 15 percent ethanol to be sold year-round. The bill was co-sponsored by Republican Senators Deb Fischer of Nebraska and Chuck Grassley of Iowa, along with Democratic Senator Joe Donnelly of Indiana. Despite the bipartisan support, the legislation was unable to muster enough support in the committee. Committee leaders announced Friday that there would be no action on the bill before the August recess. It also remains unclear whether the legislation will be resurrected sometime in the fall.

Ethanol groups say the fight for year-round E15 sales does not end with the failure of support for the bill. Further, Environmental Protection Agency Administrator Scott Pruitt said in May that the EPA was working to determine whether the agency had the authority to allow year-round sales of E15 fuels.

Source: NAFB News Service

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Senate Committee Blocks E15 Bill

Jul 24, 2017 4
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The Senate Environment and Public Works Committee has halted a bill that would have allowed gasoline with 15 percent ethanol to be sold year-round. The bill was co-sponsored by Republican Senators Deb Fischer of Nebraska and Chuck Grassley of Iowa, along with Democratic Senator Joe Donnelly of Indiana. Despite the bipartisan support, the legislation was unable to muster enough support in the committee. Committee leaders announced Friday that there would be no action on the bill before the August recess. It also remains unclear whether the legislation will be resurrected sometime in the fall.

Ethanol groups say the fight for year-round E15 sales does not end with the failure of support for the bill. Further, Environmental Protection Agency Administrator Scott Pruitt said in May that the EPA was working to determine whether the agency had the authority to allow year-round sales of E15 fuels.

Source: NAFB News Service

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Weather and Markets Remain Volatile

Jul 23, 2017 23

Weather and Markets Remain Volatile

Weather markets are notoriously fast paced, highly volatile, and unpredictable. This year, the pace at which we are seeing changes in the weather and market direction is even more fast paced, says Jim Bower with Bower Trading. “I can’t remember a time when, on a consistent basis, the weather forecast has changed so quickly,” he stated. According to Bower, normally when you get a forecast it is good for 12 to 36 hours, but this spring the forecast has been changing almost hourly.

Bower stated that the large commodity funds that have such a large market impact have been adding to the market volatility by changing their trading positions every time there is a change in the weather forecast.

Bower said that, as we move into August, the focus will move from corn to soybeans, “At Bower Trading, we are focusing more on soybeans as we move into August, the key time frame for yield for soybeans. The kind of movement we get in soybeans will have an impact on the corn market as well.” He added to keep an eye on the spread between the deferred soybean months and the nearby, “The spreads are the language of the market. Sometimes the spreads will tell you ahead of time which way the market is going to move before it does.”

For more market strategy information, contact Bower trading at 800-533-8045 or bowertrading.com.

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Ryan Martin’s Indiana Ag Forecast for July 24, 2017

Jul 23, 2017 28

We may be looking at just 1 significant threat of precipitation out of the next 2 weeks! It is hard to fathom, especially after stronger thunderstorms made it farther south over the weekend than we anticipated going home Friday. But, still, models are setting us up on a much drier pattern over the Hoosier state. Let’s take a look at the details.

Today, tomorrow and Wednesday will be dry, with much lower humidity settling in over the region. WE should see full sunshine and temps that are above normal, but with a feel that is not as oppressive as what we had to start this past weekend. WE look for west winds to be light through the period.

A good cool front moves in for Thursday, bringing rains around midday to NW Indiana, and then spreading south and southeast through the afternoon, evening and overnight. WE look for rain totals of .25”-.75” over about 90% of the state. Most of the state should miss out on the major thunderstorm chances, but we can see some thunderstorms ramp up in southern third to southern quarter of the state overnight Thursday night into early Friday. Anywhere those stronger storms break out, 1”+ rains may be seen. Still, most of the action is done and gone by mid-morning Friday. The map above shows a snapshot of the potential set up early Thursday afternoon.

The rest of the week and weekend looks dry with Friday transitioning back to sunshine with temps close to normal. The weekend will be warmer with plenty of sunshine. Then Monday through Wednesday of next week we have additional sunshine and warm air with high pressure sitting right on top of the eastern Corn Belt. Temps continue to be mostly above normal through next week.

The extended period has high pressure remaining in control through next Friday. Our next weak front to watch will be arriving late the 4th through the first half of Saturday the 5th. Rain totals do not look overly impressive at this time. However we can see anywhere from a few hundredth to up to half an inch if we are lucky. At this time, we are downplaying this system a bit, as we want to see a stronger front before we call for good rains. If we miss this front, there is nothing for the rest of the period, meaning we have just the 1 threat of rain between now and the 8th of august. So, a lot rides on that system. Strong upper level high pressure is back in for the 6th-7th-8th to finish the extended window.

This kind of pattern, if it does truly emerge as we think, will lead to complaints in early august of “needing a rain” in many areas, even with the over the top moisture we have received in spots in the past few days.

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