May WASDE: “Relatively In Line With Expectations”

IARN — Tuesday’s World Agricultural Supply and Demand Estimates report did not take analysts by surprise.

The U.S. Department of Agriculture (USDA) today (Tuesday) released its monthly World Agricultural Supply and Demand Estimates (WASDE) report. Joe Lardy, CHS Hedging market research analyst, says “most numbers came in line with expectations.”

“We didn’t see a big curveball, or surprise piece of information in today’s report that would leave the market scratching its head,” Lardy said. “For the most part, when we look at the U.S. side of the ledger, the carryouts analysts predicted prior to the report came in relatively in line.” Read more

USDA Approves $1.2 Billion In Food Purchases

IARN — The United States Department of Agriculture (USDA) last week approved $1.2 billion in contracts for the Farmers to Families Food Box Program. The program is designed to connect excess meat, dairy, and produce on farms with families facing food insecurity. The funding far exceeds the $100 million per month the department initially planned for the program, due to high interest and need. The program will purchase $461 million in fresh fruits and vegetables, $317 million in dairy, $258 million in meat, and $175 million in a combination box of fresh produce, dairy or meat products. Read more

May Freeze Threatens Soybean Acres

IARN — Freeze settled on crop ground throughout the Corn Belt this past weekend. What toll did it have on corn and soybeans?

Nicole Stecklein, DEKALB Asgrow technical agronomist in southeast Iowa, says the impact of recent frost is “still up in the air.” Stecklein does not seem too worried about corn, as the growing point typically remains below ground until V5 to V6. However, she does have reason for concern when it comes to emerged soybeans.

“I’m most concerned about soybean acres. When a soybean is coming up, the growing point is the first thing out of the ground,” Stecklein said. “So it depends on when they were planted. There’s not a whole lot out, but there are some. They don’t look healthy at this moment.” Read more

U.S., China Work To Repair Trade Relations

IARN — American and Chinese trade officials met last week to go over the Phase One trade agreement. Greg McBride, commodities broker with Allendale, offers insight into the latest discussion.

“They had a peacekeeping-type of conversation to get an idea of how to keep both sides of expectations, get this trade deal back underway, and not have to worry about the effect of more tariffs,” McBride said. Read more

“Murder Hornets”: Facts And Fiction

IARN — “Murder hornets” recently took over the news cycle.

But what you know about them may not be true. An Extension entomologist speaks to the pest, which preys on an insect essential to agriculture.

University of Illinois Extension entomologist Nick Seiter would like to set the record straight about the supposed “murder hornet.” Read more