Based on USDA’s August crop production report, U.S. corn and soybean yields and total production appear strong as we move into fall and harvest time. In fact, the agency predicted a record-breaking year for both crops.
In this environment, marketing and storage become top considerations. With large predicted harvests, prices will likely be low. The World Agricultural Supply and Demand Estimates report from last week projected that 2016/2017 corn farm prices would range from $2.85 to $3.45, and for soybeans, the projected range was $8.35 to $9.85. As a result, good marketing becomes critical. If record harvests unfold as predicted, then available storage could very possibly be scarce. Producers who haven’t already secured adequate storage should act now to find an option for their operations. This story from Farm Futures shares more analysis about the possible fall storage situation.
For planning purposes, we at BigYield.us also encourage growers to estimate crop yields on their own farms. BigYield.us has developed two yield calculators to help. Both accessible from our website, the Corn Yield Calculator and Soybean Yield Calculator ask growers to enter measurements like row width, ear or pod count and kernel or seed count. Then, based on the information inputted, the calculator generates a yield estimate in bushels per acre. To learn more about the calculators, Kent Kauffman of BigYield.us explains both in these videos: Corn Yield Calculator / Soybean Yield Calculator.
To help your yields compete in the current market, we recommend that producers still consider a BigSweetYield DB application at 3 quarts per acre. BigSweetYield DB supplies our glucose-based, cold-processed sweetener; multiple beneficial bacteria in the BigBioYield biological; and Yield Booster 12-9-6 fertilizer with seven added micronutrients. It’s a low-cost treatment that delivers comprehensive plant health benefits, and it’s a great option for conventional or non-GMO crops. Plus, BigSweetYield DB pairs well with fungicides, insecticides or a combination of both.
For more information about reducing your production costs, improving your bottom line and making your operation more efficient, you won’t want to miss our field day on Aug. 25. Held at The Farm Research Center in Garden City, Mo., the field day will include research program highlights, expert speakers, farm tours, food and entertainment. Feel free to bring family members, neighbors and colleagues! Monday, Aug. 22 is the last day to RSVP!
Please call or email anytime if you have questions about navigating the current market conditions.