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SOUTHERN MINNESOTA FARMER PLEASED WITH CROP YIELDS

South-central Minnesota farmer Tim Waibel is done harvesting soybeans and says he’s making good headway on corn.

“We’ve been pretty lucky. We got our beans out a day ago and then went back into corn.”

The Courtland farmer tells Brownfield soybean yields were better than expected considering the dry growing season.

“Probably end up real close to 70 for an average across the board, which I consider very favorable.”

Waibel indicates similar results in corn with about 60 percent of the crop left to harvest.

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Grain Market Outlook Price Prospects for 2024

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Joe Janzen and Scott Irwin of the University of Illinois provided an in-depth analysis of the grain market outlook for 2024, including price forecasts, global supply and demand trends, and marketing implications for corn and soybean producers.

Key topics covered:

Review of 2023/24 USDA February WASDE report results Old and new crop corn and soybean balance sheet forecasts Export sales pace comparisons to previous years South American soybean production estimates Impact of input costs and interest rates on marketing Benchmarking farm-level marketing performance As grain prices face downward pressure in 2024, the presenters emphasized the importance of having an active marketing plan in place, rather than a 'store and ignore' approach. They provided insight into strategies for forward contracting, making new crop sales, and capturing opportunities in a volatile market environment.

Overall, an excellent webinar reviewing the latest market analysis and offering actionable strategies for crop producers facing a more challenging economic climate this year.