According to the USDA, "U.S. soybean supply and use changes for 2022/23 include higher beginning stocks and lower production, crush, exports, and ending stocks. Higher beginning stocks reflect a lower export forecast for 2021/22."
Jake Hanley of Teucrium Funds says, "The surprise today came in the soybean market. Given the acreage and yield revisions in soybeans the U.S. is now staring at the 3rd year in a row where usage has outpaced production."
In the top 18 corn growing states, crop condition was rated 53% good/excellent, down 1% from last week. Five percent has been harvested, just ahead of the 4% five-year average.
Soybean crop condition was rated 56% good/excellent, down 1% from last week. Twenty-two percent are dropping leaves, behind the five-year average of 28%.
A more autumnal feel across the Corn Belt to the start of the second full week of September, week-ending September 17 as cooler temperatures pay a brief visit.
Warmth should return by the latter half of the week. In fact, above normal temperatures are expected for much of the balance of September in the Corn Belt, lowering the risk of an early frost.
After an extremely dry growing season, rain is slowing corn harvest for XtremeAg’s Chad Henderson, while Lee Lubbers’ prepares for corn harvest and wheat seeding in west river South Dakota.
Henderson, farmer in Alabama, says, "It's been a tough year on corn with the high heat we’ve had this summer. Of course, now we are getting all the rain that we needed and didn't get all season. We are harvesting between the rain showers as much as possible."
Lubbers says, "The signs of fall are everywhere now. Summer is in the rear-view mirror now and we are gearing up for the next big push in South Dakota."
After a summertime lull, highly pathogenic avian influenza (HPAI) is back in the Midwest, the heart of U.S. egg and turkey production, with outbreaks at commercial poultry farms in Minnesota and Ohio since Sept. 1.
An egg farm in northwestern Ohio began culling 3 million egg-laying hens last week following discovery of bird flu at the farm in Defiance County.
HPAI was confirmed last week at a 50,000-bird turkey farm in Morrison County, Minnesota, about 100 miles northwest of Minneapolis.
|Source: Online/SZK
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