Grain Markets Watch For USDA June 10 Reports.

Jun 10, 2016

The USDA’s June 10 reports will be closely watched by the grain trade. The big question remains - "Where are grain prices headed this summer?"

The market will be watching the supply and demand numbers for soybeans. Robust soybean demand and questions about South American production has driven futures prices higher the past few weeks to two year highs.

The soybean price rally has several factors moving it higher including the influx of managed money and the weather.

Losses from flooding in Argentina began to turn sales of soybeans and soybean meal back to the U.S., tightening projections for both old and new crop supplies. Business does appear to be picking up a little, and USDA could knock another 15 to 20 million bushels off its forecast for old crop carryout on June 10. But with harvest of some of the hardest-hit areas in Argentina only beginning, the government isn’t likely to change its projections much until more is known about the extent of damage.

Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.