Soybeans and Oil Crops, August 2019

New USDA survey data revised downward the estimate of sown soybean area for 2019/20 from the June Acreage report by 3.3 million acres to 76.7 million. Since the U.S. average soybean yield is unchanged at 48.5 bushels per acre, lower acreage is entirely responsible for reducing 2019/20 expected production this month by 165 million bushels to 3.68 billion. USDA’s forecast of U.S. soybean exports for 2019/20 is lowered by 100 million bushels this month to 1.775 billion. Overall, the outlook for season-ending stocks is trimmed by 40 million bushels to 755 million.

 

See the August Soybeans & Oil Crops Outlook report and previous reports.

 

 

Video: Spring Planting Prep Just Got Serious… We NEED This!

Getting closer to planting season means one thing… it’s time to get EVERYTHING ready.

Today didn’t go exactly as planned—we thought we’d be hauling potatoes again, but instead we spent the day digging equipment out of the cellar, hooking up the grain drill, and getting tractors ready to roll. With wheat planting just around the corner, every piece of equipment matters.

Of course, it wouldn’t be a normal day without a few problems… dead batteries, hydraulic issues, and a truck tire that absolutely refused to cooperate. We tried everything—jump packs, bead bazooka, ratchet straps… and eventually had to bring out the “big guns” just to get things moving again.

But that’s farm life—adapt, fix, and keep moving forward.

We’re getting close to go-time. Wheat seed is coming soon, and planting season is right around the corner