Greetings from the balmy Midwest US - it was in the 60s and 70s F last week, and it looks like the same for the rest of this week. For mid-March, this is just beautiful but incredibly bizarre weather for the US.
First off, I'd like to offer a CONGRATS to the winners of our e-newsletter US registration program, and a sincere thanks to all those who signed up and participated. And the winners are...
Robert Clark, Jr., Maryland
Tom Doerter, Ohio
Steve Ford, Tennessee
Jerrell Dolesh, Nebraska
Gilbert Clark, Michigan
David Cunningham, Iowa
Greg Tylka, Iowa
Mike Petersen, Nebraska
Barry Bean, Missouri
Mike Wardyn, Nebraska
Ok...now back to business. I touched on this last week, but as I reviewed my Commodity Classic notes from different speakers, it kept coming up - a consistent concern over the lack of investment the past 10+ years in US infrastructure. The US government has not been investing in roads, railways, ships or ports to keep up with the export demands and requirements of many of the countries the US wants to trade with.
Jim Wiesemeyer, Informa Economics senior vice president, told a group of farmers at an education seminar that building and rebuilding America needs to occur.
"The thing that makes your industry competitive over the decades has been our infrastructure system - the lock and dams, the barges, the river systems, the railroad system," Wiesemeyer said. "The whole complex is in need of a $2 trillion expenditure. Both political parties' leaders and the President have poked around for a jobs bill, and it's staring them right in the eye."
Switching gears to last Friday's March Supply and Demand Report, the report was essentially neutral and not as bullish as traders expected.
Projected corn carryout stocks remained at 801 million bushels and there were no changes to the soybean S&U projections. But USDA raised both ends of its forecast soybean price range by 30 cents/bu putting the range at $11.40-$12.60/bu.
Movement in the market came from expectations for the South American soybean crop. The Argentine crop was reduced 1.5 MMT from February's 48 MMT while Brazil's crop was trimmed 3.5 MMT to 68.5 MMT.
World corn S&U projections netted 0.1 per cent increase. Argentina's estimated production was reduced by 0.5 MMT in February to 34 MMM in this report. South Africa's crop was reduced by 0.5MMT. However, Brazil's estimated corn crop was increased by 1 MMT from February to 62 MMT.
Iowa Farm Outlook Shares Ag Outlook Forum Projections
Late last month USDA hosted its annual Ag Outlook Forum, and one of the highlights of the Forum is the release of USDA's initial projections for the upcoming crop year.
Computer Model to Develop Future Tillage Tools
When farmers drive in the fields with their tools there is an interaction between the soil and the tools. But we have very limited knowledge about what exactly happens.
Almost 40% of Worldwide Crops Lost to Diseases
With extensive experience in plant pathology, Prof. Richard Strange's research activity is based mainly on the interaction between plants and pathogens and the impact their illness can have on human health.
Study on Food Chain Price Setting and Transfer
According to recent studies, the multifaceted nature of the food crisis and the rising trend in food prices in recent years might indicate a relative shortage, in the short term, of first consumer products.
Soybean Cyst Nematode: The Soybean Yield Reducer
Even though the soybean cyst nematode (SCN) (Heterodera glycines) is small in size, it can reach great numbers and has the ability to drastically reduce soybean yield.
Natural Way to Bioengineer Improved Rice Through Metabolites
A large-scale study analyzing metabolic compounds in rice grains conducted by researchers at the RIKEN Plant Science Center (PSC) and their collaborators has identified 131 rice metabolites and clarified the genetic and environmental factors that influence their production.