Highlights include record planting for soybeans and the impact of PEDv on pork outlook
By Diego Flammini, Farms.com
Just as the United States Department of Agriculture (USDA) released the World Agricultural Supply and Demand Estimates (WASDE) Report, Rabobank also put out their North American Agribusiness Review.
The report covers a wide variety of crops and products but Farms.com is going to focus on corn, wheat, soybeans and a few other products that could potentially have important impacts on the farming future.
Corn
The Rabobank report has corn selling close to the $4.00 per bushel mark with a very slight increase going forward all the way to September 2016. They project approximately 89 million acres to be planted with a trending yield of around 164 bushels/acre.
Wheat
Rabobank’s report shows prices for wheat in April at over $5.00 per bushel. This trend looks to stay consistent until December where there’s a chance the price could go up. The strong American dollar and its impact on wheat exports is also a factor affecting the price of wheat.
Soybeans
In March 2015, Rabobank estimates the price for soybeans will be close to $10.00 per bushel. There could be a record of soybeans planted because of how much more it costs to produce corn than it does soybeans. Rabobank says US soybeans could be planted across 85.3 million acres, an increase of 1.3% from last year.
PEDv
As a result of the battle with PEDv (Porcine Epidemic Diarrhea Virus), Rabobank suggests pork producers in the United States are slowly expanding production. Their research shows hogs currently around $70/CWT.
For more coverage of corn, soybean, wheat and other markets, be sure to check out the Farms.com Risk Management page.
