wheat | ąű¶ł´«Ă˝ Our Members Bring Choice, Value & Innovation to Agriculture Thu, 23 May 2024 22:23:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.4 /wp-content/uploads/2023/09/fema-favicon-75x75.png wheat | ąű¶ł´«Ă˝ 32 32 Planting Progress Leaps Forward, But Behind Average /news/planting-progress-leaps-forward-but-behind-average/ Thu, 23 May 2024 21:27:28 +0000 /?p=28259 The USDA released its eighth Crop Progress Report of the 2024 growing season on May 20. Here’s a look at the most recent corn, soy, wheat, and oat numbers:

Corn crop progress: The USDA says as of May 19, 70% of the 2024 corn crop has been planted in the top 18 corn-growing states. This is up from 49% the week prior but still behind the five-year average of 71%. This is the third consecutive week corn planting progress has fallen behind the average pace.
Corn is emerging in all of those states, with 40% out of the ground. That’s up from 23% the week prior and ahead of the five-year average of 39%.

Soybean crop progress: USDA says soybean planting progress is at 52%, up from 35% the week prior and ahead of the five-year average of 49%. Soybeans have emerged in all of the top 18 growing states, with 26% out of the ground. That’s up from 16% the week prior and ahead of the five-year average of 21%.

Winter wheat progress: USDA says 69% of winter wheat has headed across 17 of the top 18 growing states. This is up from 57% the week prior and ahead of the five-year average of 57%.

Spring wheat progress: The USDA says spring wheat planting progress in the top six growing states is at 79%, up from 61% the week prior and ahead of the five-year average of 65%.
A total of 43% is out of the ground, up from 25% the week prior and ahead of the five-year average of 33%.

Oat crop progress: The USDA says across all nine of the top oat-growing states, 87% of the crop has been planted, up from 78% the week prior and ahead of the five-year average of 82%.
A total of 69% of the crop has emerged, up from 59% the week prior and ahead of the five-year average of 63%.

Source:

]]> Soybean Acreage Has Outpaced Corn and Wheat Since 2000 /news/soybean-acreage-has-outpaced-corn-and-wheat-since-2000/ Fri, 23 Jun 2023 14:23:47 +0000 /?p=23735 Between 2002 and 2022, soybeans were the second-most planted crop in the United States, behind corn. The exception was in 2018 when acreage planted to soybeans surpassed corn. While the total acres planted to soybeans generally have been less than to corn, the rate of growth in soybean sowings has exceeded corn since the early 2000s.

Soybean planted acreage grew by 18 percent, from 74 million in 2002 to 87 million in 2022, while corn planted acreage increased by 12 percent in the same period. In contrast to this growth, wheat planted acres declined 22 percent over the same 20-year period–with some wheat acres shifting into soybeans.

While net gains in soybean acres planted have been sizable, growth over the past two decades has not been steady. From 2002 to 2006, gains were modest, followed by a sharp decline in 2007 when biofuel policy increased the demand and price for corn. Increased profitability for corn shifted many acres out of soybeans and into corn production.

After 2007, and for the next several years, generally improving profit margins reinvigorated soybean plantings, which continued their upward trajectory, peaking in 2017 at 90 million acres. Acreage fell slightly in 2018 and more sharply in 2019 to 76 million acres–the lowest since 2011–after China’s trade restrictions reduced global demand for U.S. soybeans, which caused soybean prices to fall. Heavy spring rains in 2019 contributed further to the reduction in soybean plantings, but planted acreage partially recovered in the following years.

]]> Price of Wheat Climbs Amid Uncertainty in Europe /featured-small/price-of-wheat-climbs-amid-uncertainty-in-europe/ Tue, 22 Feb 2022 18:20:35 +0000 /?p=17065 Even when it was only a threat, the war between Russia and Ukraine was rattling international grain markets, driving wheat prices higher on both sides of the Atlantic and leaving traders girding for more volatility ahead.

The two nations combined account for 29 percent of global wheat exports, according to data from the USDA. The nearby Black Sea serves as a major conduit for international grain shipments, and Ukraine is also among the top exporters of barley, corn and rapeseed.

Tensions along the Russia-Ukraine border helped drive wheat futures traded in Chicago up more than 7 percent in recent weeks. It was more than $8 a bushel last week, which is just below a near decade high of $8.50 a bushel reached last year. Some analysts worry a deep Russian push into Ukraine and Western sanctions that curtail Russian exports would be a worst-case scenario and could deprive global markets of the lion’s share of both nations’ wheat supplies.

“That is a huge quantity, and it means prices could easily double,” said Carlos Mera, head of agricultural commodities research at Rabobank.

Even a limited conflict that spares most of Ukraine’s agricultural infrastructure could drive up prices between 10 and 20 percent, said Andrey Sizov, managing director with a Russian research firm focused on Black Sea grains markets.

Source: Wall Street Journal

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