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Corn Markets Re-Adjusting After Bigger than Expected Crop Forecast

What might have been a bit of a price hike for corn this marketing year seems to have been squashed by the larger than expected production forecast.  Gary Crawford and Seth Meyer.

Seth Meyer, USDA Outlook Board Chairman, saying USDA’s forecast for a record national average corn yield was made despite the fact that yields in some major corn states did not set records.

USDA Forecasts Surprises Some Analysts

USDA’s new corn production forecast was a bit of a surprise to many traders who didn’t expect such a big change from USDA’s previous forecast in October.
USDA Chief Economist Rob Johansson talking about the latest forecasts for soybeans.
The cotton forecast is up. Gary Crawford and Rob Johansson with highlights of the latest USDA forecasts.

Some Surprises in USDA’s Grain Stocks Report

It looks like we will begin the new marketing year with smaller than expected stocks of old crop corn and soybeans. Gary Crawford and Warren Preston.
Wheat traders may have been surprised at USDA’s new estimate of spring wheat production.  Warren Preston, USDA Deputy Chief Economist, talking about the gap between winter wheat planted acres (37.7 million) and harvested acres (25.2 million).

Russian Wheat Production Record-U.S. Prices Headline USDA Wheat Outlook

The latest USDA estimates for wheat include an even bigger record crop in Russia and a change in the U.S. price forecast.
And more corn production and impacts on U.S. balance sheets.  A larger than expected production estimate for U.S. corn is not even the biggest adjustment on a global scale. Rod Bain and World Agricultural Outlook Board Chair Seth Meyer.

USDA Raises Production Estimates for Corn, Soybeans & Cotton

Here’s a quick look at Tuesday’s round of USDA crop reports with Gary Crawford.
How did the September crop production and yield numbers from USDA compare to what industry analysts were forecasting?  Rod Bain and Chief Economist Rob Johansson.

Surprisingly Bearish USDA August Crop Report

The markets got some surprises from Thursday’s round of USDA crop production reports.  USDA’s corn yield and production forecast surprised some people.  Corn futures tumbled Thursday afternoon after release of USDA’s first survey based forecasts.

USDA Issues New Wheat Yield and Production Forecasts, cutting yield estimates for Durum and other spring wheat.

USDA Raises Forecast for U.S. Cotton Production.  The U.S. cotton crop could be the biggest one in eleven years. Gary Crawford and USDA Chief Economist Rob Johansson.

USDA Acreage and Stocks Reports Provide Few Surprises

Corn Acreage Larger than Many Had Expected.  USDA’s number for acres planted to corn was higher than many had expected.
Wheat Plantings a Bit Lower than Expected.  Low wheat prices are forcing more wheat producers to cut back on wheat and plant more corn and soybeans.   Traditional wheat states making big shifts to corn and soybeans.   USDA Chief Economist Rob Johansson saying he’s surprised at how big the shift from wheat to other crops has been in traditional wheat growing states.

National Agricultural Genotyping Center Announces New Tools in Corn Disease Identification

June 5, 2017, St. Louis — Identifying corn diseases and pursuing the best management plan available just got easier, faster and more cost effective due to new testing protocols announced today by the National Agricultural Genotyping Center located in Fargo, North Dakota.

“Farming is a complicated pursuit that involves many choices. Making the right choice at the right time can have a huge effect on profitability,” said Larry Hoffman, Chairman of the National Corn Growers Association’s Corn Productivity & Quality Action Team. “This is especially true when it comes to identifying the dozens of diseases that can harm healthy corn plants, yields and grain quality.”

Corn has effective genetic resistance to many of the important diseases, according to Pete Snyder, President and CEO of NAGC, however, numerous challenges remain in identifying corn diseases in timely fashion. NAGC is targeting a couple of key diseases, Goss’s Wilt and Xanthomonas, in their first disease assays, or tests now available to corn farmers, agronomists and crop consultants.

“A key part of our mission at the  National Agricultural Genotyping Center is to translate scientific discoveries into solutions for farmers and production agriculture. This is another important step in that regard,” Snyder said. “The new assays we have developed will provide proper identification in weeks rather than months and cut costs substantially.”

NAGC, a non-profit initiative founded by the National Corn Growers Association and Los Alamos National Laboratory, will provide research and testing services to both public and private researchers. The center translates scientific discoveries into solutions for production agriculture, food safety, functional foods, and bioenergy. and national security.

Cost savings from the actual testing are as much as 75 percent less with a move from single sample testing to utilizing 96 sample trays. NAGC is working with farmers via crop consultants and agronomists to streamline the process of collecting samples and ramping up the assay process.

Goss’s wilt is a bacterial disease that may cause systemic infection and wilting of corn plants, as well as severe leaf blighting. Under the right conditions this disease can cause devastating damage with grain yield losses approaching 50%. Xanthomonas, another bacterial disease, is being targeted because it is often confused with Gray Leaf Spot leading to ineffective fungicide treatments and loss of income for farmers.

“It can cost $40 an acre to treat Gray Leaf Spot, but those treatments are ineffective against Xanthomonas,” Hoffman said. “And it’s not just lost profit but lost opportunity. Once identified we can deal with Xanthomonas through management practices such as tillage and crop rotation.”

Testing is largely done through samples of the effected plant leaf tissue. However, soil samples can be assayed by NAGC early in the growing season to identify or the presence of Xanthomonas.