Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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The fourth and final day of the 32nd Pro Farmer Crop Tour wrapped up on Thursday, Aug. 22, with numbers from Minnesota and eastern Iowa samples combined for full Iowa results.
A Harris administration would likely continue the “climate-smart” initiatives in the Inflation Reduction Act, but a second Trump administration would put the future of sustainable aviation fuel in question and extend the use of liquid fuels.
The Illinois corn crop didn’t quite meet USDA’s expectations of 225 bu./acre, but it hit 204.14 bu. At the same time, Iowa’s soybean crop is putting out big numbers.
Chip Nellinger, Blue Reef Agri-Marketing, says time is running out on old crop sales.
The corn yield estimate in Indiana is nearly 7 bu. per acre above the 2023 tour estimate; the soybean estimate is up 7.56%. Nebraska’s corn yield estimate is just over 6 bu. per acre higher than last year, and the soybean estimate is up 1.07%.
Corn yield estimates in South Dakota are less than 1 bu. per acre lower than 2023 tour estimates while soybean pod counts are up. Ohio’s corn yield estimates are slightly lower than last year and soybean pod counts came in 1.84% lower.
Gradable has more than 20,000 farmers users totaling 12 million acres and has facilitated more than $30 million in financial incentives for sustainable/regenerative practices every year.
Markets will look for confirmation of record yields from the tour for direction.
Wheat sees a short covering bounce, while cattle fall with fund liquidation and lower cash.
As scouts set off for the 2024 Pro Farmer Crop Tour Monday morning, market watchers say there a few key things they’ll need to see out of next week’s tour. From ear counts to stands to kernel size, here are the biggest metrics to watch during tour.