Rushville Republican

Agriculture

September 25, 2012

Corn yield projections down, but not as much as expected

RUSHVILLE — Corn and soybean yield projections decreased Sept. 12 as the nation's Corn Belt continues to suffer through the worst drought since at least 1956.

According to a U.S. Department of Agriculture Crop Production report, the nation's corn crop could be just 10.7 billion bushels, down less than 1 percent from the Aug. 10 report and 13 percent from 2011. Those numbers represent the smallest corn crop since 2006.

While the corn yield projections declined, Purdue Extension agricultural economist Chris Hurt said they didn't drop as much as expected compared with the August report.

"The surprise was on the corn market. Corn yields were not dropped very much Ð about six-tenths of a bushel per acre," Hurt said. "What we saw is that in the primary Midwest, especially Illinois, Iowa and Nebraska, the yields all came down some. But in the southern tier of states, we actually saw an increase in yields, so we kind of had an offset."

Soybean production was forecast at 2.63 billion bushels, down 2 percent since August and 14 percent from 2011. The projections are slightly less than what Hurt said markets anticipated.

Indiana's corn and soybean yield projections held steady from August to September. The USDA anticipated 605 million bushels of corn, down 28 percent from 2011. Indiana soybeans were projected at 184.6 million bushels, down 22 percent from 2011.

Wednesday corn markets were bearish on the heels of the release of the USDA report, but soybean futures prices jumped. Cash corn prices for new crop ranged from $7.75 to $8 per bushel, while new crop-cash soybean prices averaged between $17 and $17.50 in Indiana.

Hurt said the report can give corn and soybean growers some insight for marketing the crops.

"As we think about marketing, there certainly are some differences between corn and soybeans," he said. "For corn, current bids into the storage season are relatively flat going across the fall and into the spring, without substantial increases or decreases. What that tells us is that storing corn still makes some sense if one believes corn prices can still rally and that there is limited concern about a major drop in prices.

"Soybeans are different because of the very large South American production. If they have a reasonable growing season, we're going to start seeing lower soybean prices by maybe January and especially February and March."

The strong cash and futures prices will help some grain producers offset drought-induced harvest losses. October grain prices also will influence the amount some insured producers will receive in indemnity payments. But the reduced yields and high prices do little to help the negative profit margins of livestock producers struggling to feed their herds.

"The livestock industry gets just a tiny bit of reprieve in the sense that corn isn't as desperately short as I think many people thought going into this report," Hurt said. "On the other hand, corn prices aren't going to fade substantially. It's going to be very difficult for the livestock industry to just hold on as cash flows are probably going to be negative for the most part."

The USDA's full report is available for download at http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1046

Ñ

1
Text Only
Agriculture
  • Extension farm tour to feature organic vegetable production WEST LAFAYETTE - The organic vegetable production and fertility management practices at an Ohio farm will be showcased in a Purdue Extension tour of the operation near Cincinnati.The tour will be from 9 a.m. to noon Aug. 5 at EcOhio Farm, 2210 S. Mas

    July 18, 2014

  • ag-rv071814-soybean variety pic Gene discovery could lead to better soybean varieties for northern United States WEST LAFAYETTE – Researchers from Purdue University and the University of Nebraska-Lincoln have discovered a soybean gene whose mutation affects plant stem growth, a finding that could lead to the development of improved soybean cultivars for the nor

    July 18, 2014 1 Photo

  • U.S. farmers plant record soybean crop, less corn DES MOINES, Iowa (AP) — The nation’s farmers planted the largest soybean crop on record this year by devoting millions of acres of land to the crop that had been used for growing corn, the U.S. Department of Agriculture said Monday.Farmers planted 84

    July 3, 2014

  • Manure Management Field Day presents new technology NORTH MANCHESTER — The Wabash County Soil & Water Conservation District and the Conservation Cropping Systems Initiative will host a free Manure Management Field Day on July 29th at Brubaker Farms. The half-day program will address application techno

    July 3, 2014

  • Purdue, OSU assisting in ag meeting for Corn Belt farmers WEST LAFAYETTE — Purdue and Ohio State Universities are part of an organization that is sponsoring a meeting this summer to help Corn Belt farmers make their agricultural systems more resilient and sustainable.The Resilient Agriculture Conference Au

    June 27, 2014

  • Farm Credit supports Rushville City FD training efforts RUSHVILLE — Farm Credit Mid-America, an agricultural lending cooperative serving farmers, rural residents and agribusinesses throughout Indiana, Ohio, Kentucky and Tennessee, contributed $500 to the Rushville City Fire Department. The funds were used

    June 27, 2014

  • ag-rv062714-problem weeds pic Latest weed control advances in corn, cotton COLLEGE STATION — The latest strategies in managing problem weeds in corn and cotton were recently showcased at the 2014 Crop Tour at the Texas A&M University field laboratory near College Station that serves as a research and teaching platform for T

    June 27, 2014 1 Photo

  • Farm Credit salutes Rushville FFA graduating seniors RUSHVILLE — Farm Credit Mid-America, an agricultural lending cooperative serving farmers, rural residents and agribusinesses throughout Indiana, Ohio, Kentucky and Tennessee, contributed $500 to support the 2014 Rushville FFA banquet, themed “Legacy

    June 27, 2014

  • Purdue fruit, vegetable food safety course now offered online WEST LAFAYETTE - Purdue Extension is now offering in an online format a course covering food safety practices for fruit and vegetable growers.The course is based on a series of Good Agricultural Practices from A to Z workshops that were given in the

    June 20, 2014

  • Purdue field day to feature conservation drainage practices WEST LAFAYETTE - An innovative, two-stage conservation drainage ditch and nitrate-reducing system will be showcased at a June 17 field day sponsored by Purdue Extension. The Conservation Drainage Field Day will be held 9-10:30 a.m. at the Throckmort

    June 13, 2014

Featured Ads
AP Video
Six Indicted in StubHub Hacking Scheme Former NTSB Official: FAA Ban 'prudent' EPA Gets Hip With Kardashian Tweet Bodies of MH17 Victims Arrive in the Netherlands Biden Decries Voting Restrictions in NAACP Talk Broncos Owner Steps Down Due to Alzheimer's US, UN Push Shuttle Diplomacy in Mideast Trump: DC Hotel Will Be Among World's Best Plane Crashes in Taiwan, Dozens Feared Dead Republicans Hold a Hearing on IRS Lost Emails Raw: Mourners Gather As MH17 Bodies Transported Robot Parking Valet Creates Stress-free Travel Raw: Fight Breaks Out in Ukraine Parliament Disabled Veterans Memorial Nearing Completion Last Mass Lynching in U.S. Remains Unsolved Home-sharing Programs Help Seniors Ex-NYC Mayor: US Should Allow Flights to Israel
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.