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80 Million
Soybean Acres Possible For 2009
U.S. farmers are leaning toward planting a lot more
soybeans and a lot less corn for 2009, says Chad Hart, Iowa State
University economist.
“Currently, soybeans are definitely the lower-input-cost crop compared
to corn,” says Hart. “So, most farmers are looking at soybeans as
the place to move their acreage this year.”
Also, due to significant corn acreage increases in the last two years,
many farmers are looking to reestablish their crop rotation with
soybeans for agronomic reasons. As a result, a significant switch back
to beans will likely occur in 2009, he predicts.
“We went very strong into corn in 2007,” explains Hart. “At 93.6
million acres, that was the highest U.S. corn acreage since World War
II.”
The U.S. stayed relatively strong in corn production during 2008, when
farmers planted roughly 86 million acres, he adds. “However, in 2009,
it looks like farmers are planning for a breakdown much closer to a
50-50 acreage allotment between corn and soybeans,” says Hart. “We
could potentially see 80 million acres of soybeans and 80 million acres
of corn in 2009. If that occurs, there is the potential for a lot of
downside pressure on soybeans prices and upward pressure on corn.”
The most soybean acres ever planted in the U.S. was 75.9 million
acres in 2008, notes Hart. If farmers plant 80 million acres to soybeans
in 2009, it would be both another record crop and a big increase over
last year.
“My advice is to continue to pencil out your return on investment for
both corn and soybeans to find out which one is going to do the best for
you on a per-acre basis,” says Hart. “Usually, but not always, it
pencils out to be the lower-demanding input-cost crop, which would be
soybeans right now.”
Over the last 30 years, it’s been soybeans that have given Iowa corn
and soybean growers their highest profits, points out Hart. “You will
receive higher revenues for corn, but you also have higher costs, so
profits have been less with corn over the years,” he explains.
“People tend to get caught up looking at the revenue side, but the
bottom line is your return on investment, which is your revenue minus
costs. It’s that return on investment that allows you to stay in
business for the next year.”
To continue reading this article about the outlook for corn and soybean
acreage for 2009, click here: cornandsoybeandigest.com/soybeans.
By John Pocock
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ASA Supports
Tom Vilsack As U.S. Secretary Of Agriculture
The American Soybean Association (ASA) applauds the
nomination of former Iowa Gov. Tom Vilsack (D) as the nation's 30th
secretary of agriculture. Vilsack is the first Iowan chosen for the key
Cabinet post since Henry A. Wallace, a noted farm editor and
agriculturalist, was named to the post in 1933.
“ASA is delighted with President-elect Obama's choice of Gov.
Vilsack,” says ASA Chairman John Hoffman, a soybean producer from
Waterloo, IA. “As governor, he was an early and strong advocate for
renewable fuels, including soy biodiesel, as well as biotechnology,
which is so important to modern agriculture.”
Hoffman points out that Gov. Vilsack is very knowledgeable about
agriculture, including the role that farm programs play in the
livelihoods of producers of soybeans and other commodities. Hoffman and
the leadership of the Iowa Soybean Association (ISA) worked closely with
Gov. Vilsack during his eight years as chief executive of one of the
nation's leading agricultural states.
“Coming from an ag state that is number one in soybeans, corn, pork,
turkey and egg production, Tom Vilsack recognizes the importance of
agriculture on the U.S. economy,” Hoffman says. “As ISA President, I
met with Gov. Vilsack numerous times and found him to be responsive to
the concerns of soybean farmers, and I fully expect as secretary of
agriculture he will be an excellent spokesperson for U.S.
agriculture.”
To read more about former Gov. Vilsack and ASA’s reaction to his
nomination for agriculture secretary, click here: www.soygrowers.com/newsroom.
To read a similar statement from the National Corn Growers Association,
click here: cornandsoybeandigest.com.
Source: Source: American Soybean Association
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Take Part In
Corn & Soybean Digest Poll
Please cast your ballot in the latest Corn &
Soybean Digest (CSD) quick poll. The most recently posted
question is: What is your strategy for spring 2009 fertilizer purchases?
Cast your vote on CSD's home page at: cornandsoybeandigest.com/.
(The poll question is just to the right of the “What’s New” top
section of the Web site.)
Over 6,000 people particpated in CSD’s previous poll, which
asked who would become the next U.S. Secretary of Agriculture? Almost
half (47%) indicated that former Iowa Gov. Tom Vilsack (D) would receive
the nomination, which he did. Another 37% indicated that Rep. Stephanie
Herseth (D-SD) would receive the nod. To view poll results, click here:
cornandsoybeandigest.com/poll.
Source: Corn & Soybean Digest
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More Soybean Acres, But Some Price Recovery
Expected
Soybeans have recently rallied off of what most
producers hope is the bottom for prices, at least for a while. March
soybean futures reached a low of $7.80 on Dec. 12, and then recovered
76¢/bu. in the following week.
USDA made a few changes to usage, but no change in the final ending
stocks of 205 million bushels for the 2008-2009 marketing year. Exports
were increased by 30 million bushels, but domestic crush was reduced by
the same 30 million bushels keeping ending stocks unchanged.
USDA is now estimating that exports will be down by 9% compared to last
year, and so far export commitments are down only 4%. Export commitments
of both China and Japan (our two largest customers) are about 4% greater
than at this time last year. Expected production in Brazil was also
dropped by 37 million bushels.
To continue reading this article on soybean prices and outlook, click
here: www.agecon.purdue.edu/extension.
By Chris Hurt, Purdue University Extension
economist
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Iowa Farmland Nears $4,500/Acre Average In
2008
The average value of an acre of farmland in Iowa
reached $4,468 in 2008, continuing to increase for the ninth year in a
row, according to an annual survey conducted by Iowa State University
(ISU) Extension. Mike Duffy, ISU Extension farm economist who conducts
the survey, says the indicators toward the end of the year imply the
upward trend may be slowing as the national economy battles recessionary
pressures.
The 2008 average was an increase of $560 over last year, the
second-highest dollar increase ever recorded in the 67 years that ISU
has conducted the survey. The 2007 survey reported a $704 increase over
the previous year. The 2008 figure was an increase of 14% over 2007,
compared with a 22% increase last year. Over the past 40 years, the
survey has found annual changes ranging from an increase in value of
31.9% in 1973 to a loss of 30.2% in 1985.
To read more about the 2008 Iowa farmland survey, click here: www.extension.iastate.edu/CropNews.
By Mike Duffy, Iowa State University Extension
farm economist
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Plan Now For 2009 Fertilizer
Needs
Nitrogen (N) fertilizer prices have declined since
last summer, but prices are still relatively high, says Ron Gelderman,
professor of plant science at South Dakota State University (SDSU).
Nitrogen prices per pound today are more than double when compared to
prices in 2003 for corn and wheat growers, he says. “In 2003, a bushel
of corn could purchase 9 lbs. of N, and a bushel of wheat could purchase
14 lbs.,” says Gelderman. “Today, with corn, we're looking at about
6 lbs. N/bu. and about 10 lbs. N/bu. of wheat.”
Reducing rates of N per acre is one option to save on cost, says
Gelderman. “Several studies show that modest reductions – cutting
rates by 15-25 lbs./acre – are prudent now for corn and wheat,” he
explains. “Using N credits for legumes and manure is yet another way
to save on N input expenses.”
The average N credit from a previous crop of soybeans or field peas is
40 lbs./acre, and can lead to savings of more than $20/acre.
To continue reading this article about fertilizer management for 2009,
click here: agbionews.sdstate.edu/story.cfm?id=4553.
Source: South Dakota State University
Extension
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Simple Soybean
-- Anything But
Think humans are complex creatures? Consider the lowly
soybean, says Scott Jackson, a Purdue University researcher.
When it comes to genetics, the soybean plant is far more intricate than
that of a human, notes Jackson, a plant genomics and cytogenetics
researcher in Purdue's department of agronomy, who was among a team of
researchers that mapped and sequenced the soybean genome for a project
sponsored by the U.S. Department of Energy Joint Genome Institute (DOE
JGI). The genome was released to the public this past week and can be
viewed online at www.phytozome.net/soybean.
Soybean plants have tens of thousands more genes per cell nucleus than
humans, even though the plant's complete genetic profile is much
smaller, Jackson says.
To read more about the soybean’s genetic profile, click here: news.uns.purdue.edu.
Source: Purdue University Extension
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Don't Miss Conservation Tillage Conference
Jan. 28-29.
The fifth annual Conservation Tillage Conference is
little more than a month away. The two-day event is scheduled for Jan.
28-29 at Jackpot Junction, Morton, MN. Leading industry and university
experts will cover topics like: planting corn in cooler soils, placing
fertilizer close to seed, tuning up your planter and getting the most
out of your nitrogen fertilizers. Plus, you won’t want to miss the
general session, which will include a farmer panel discussing the latest
conservation tillage practices.
Cost for the conference is $100 until Jan. 9. After that, the price is
$125. For more details and registration, log on to www.tillageconference.com or
call Jodi or Mary Jo at the University of Minnesota Extension Regional
Office, 507-337-2800. The conference is brought to you by the University
of Minnesota and Corn & Soybean Digest.
Source: University of Minnesota
Extension
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Soybean
Checkoff Prepares For New Challenges And Opportunities
The United Soybean Board (USB) concluded its annual
board meeting last week. Farmer-leaders of the soybean checkoff elected
a new chairman, Chuck Myers, who farms in Lyons, NE, to lead the soybean
checkoff.
Helping Myers lead the board are: Vice Chairman Phil Bradshaw, a soybean
farmer from Griggsville, IL; Secretary Terry Ecker, Elmo, MO; Treasurer
Marc Curtis, Leland, MS; Todd Allen, who farms in West Memphis, AR;
Lewis Bainbridge, from Ethan, SD; Jim Call, who farms in Madison, MN;
Vanessa Kummer, who farms in Colfax, ND; Rick Stern, who farms in Cream
Ridge, NJ; Jim Stillman, who farms in Emmetsburg, IA; and Ike Boudreaux,
who farms in Lebeau, LA.
According to a recent producer-attitudes survey, 74% of soybean farmers
strongly support the soybean checkoff. Key accomplishments include:
- U.S. soybean production has grown to nearly 3 billion bushels in
2008 from 1.98 billion bushels in 1991, according to the USDA.
- Soy exports grew to a record 1.5 billion bushels, or $12 billion in
value.
- Soy biodiesel use has grown from 25 million gallons in 2002 to
between 650 million and 700 million gallons in 2008, according to the
National Biodiesel Board.
Despite several severe soybean production challenges, many opportunities
for profit existed in 2008. “We have a year of opportunity ahead of us
and plan to keep building on the partnerships we have with our industry
partners,” states Myers. Examples of these partnerships include:
- Expanded use of soy foam in the Ford Motor Company automobile
lineup.
- Support of the U.S. poultry and livestock industries, our No. 1
customer.
- Continued partnering with state soybean checkoff boards to build
demand for soybean farmers.
- Working with land-grant universities to create tools that help
identify, manage and protect soybean fields from yield-robbing diseases
and pests.
Last week, the U.S. soybean industry partners, stakeholders and experts
came together for CONNECTIONS 2008 to decide the issues that are
critical to plotting U.S. soy's global positioning strategy for the next
three to five years. The top key issues identified included:
- The continued need for research to improve the value of U.S.
soybeans.
- Positively telling the story of U.S. soy in a manner consumers will
understand and trust.
- The importance of supporting the livestock and poultry industries
and maintaining their right to produce in the U.S.
To learn more about how USB and the soybean checkoff program operate,
visit www.unitedsoybean.org,
the only official Web site of USB and the soybean checkoff program.
Source: United Soybean Board
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National
Tillage Experts To Speak At Illinois Seminar
Tillage, Technology & Environmental Stewardship is the
theme for the 2009 Illinois Regional Tillage Seminars, to be held in
January at three locations throughout Illinois.
“This year we’re going to focus on technology and environmental
stewardship associated with adopting a no-till and strip-till farming
system,” says Bob Frazee, University of Illinois Extension natural
resources educator. “To that end, we’ve brought in three of the
nation’s foremost experts on no-till/strip-till, to speak to our
producers.”
Clay Mitchell, considered around the country to be an innovator in
precision agriculture, will speak on how to manage no-till/strip-till
for weed shifts and resistance, as well as the use of
controlled-traffic, aligned farming systems with long-term
no-till/strip-till and its effects on the soil. Mitchell farms on a
2,500-acre centennial farm in northeast Iowa.
A second speaker, Jerry Hatfield, is the director of the National Soil
Tilth Lab in Ames, IA. Hatfield will discuss the role of tillage on
carbon sequestration. The third speaker, Barry Fischer, state agronomist
for the Indiana Natural Resources Conservation Service, will speak on
no-till planter set-up and equipment modifications and no-till
management.
To learn more, click here: cornandsoybeandigest.com/corn/tillage.
Source: University of Illinois
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ASA Announces 2008-2009
Officers
The American Soybean Association (ASA) board of
directors has confirmed Johnny Dodson from Halls, TN, as president, and
John Hoffman from Waterloo, IA, as chairman. Board members also elected
Rob Joslin from Sidney, OH, to serve as first vice president, an office
that places Joslin in line to be ASA president next year.
Also elected were Ron Kindred from Atlanta, IL, as secretary, and Steve
Wellman from Syracuse, NE, as treasurer. Four vice presidents also were
elected: Randy Mann from Auburn, KY; Alan Kemper from Lafayette, IN; Ray
Gaesser from Corning, IA; and Joe Steiner from Mason, OH. These soybean
producer-leaders form the nine-member ASA executive committee.
Elections were held on Thursday, Dec. 11, during ASA's winter Board of
director's meeting in St. Louis. “We are a grassroots agricultural
organization and one of the keys to our success is membership,” says
Dodson. “The leadership of ASA gets direction from our membership and
we encourage our members to continue to participate in ASA and their
state affiliates.”
To read more about ASA and recent committee assignments, click here: www.SoyGrowers.com/newsroom/news.htm.
Source: American Soybean Association
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National
No-Till Conference Convenes Jan. 14-17
The 17th annual National No-Till Conference will be
held Jan. 14-17 at The Westin in Indianapolis, IN. At the conference,
Ohio State University (OSU) researchers will educate attendees how to
use precision agriculture technology to minimize costs and maximize
profits.
OSU researchers have shown, in field trials, that using variable rate
applicators in no-till situations can save money, anywhere from $36 to
more than $88/acre, when compared to normal production practices and no
precision agriculture use.
For complete conference information, visit: www.lesspub.com/cgi-bin/site.pl?ntf/ntfConf.
Source: Ohio State University
Extension
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Experimental Soybeans Sabotage Roundworm Pest
With Its Own Gene
Using biotechnology, Agricultural Research Service
(ARS) scientists have fortified the defenses of soybean plants against
tiny but destructive pests called soybean cyst nematodes (SCN).
The wormlike pests live in the soil, where they can wriggle into soybean
roots to feed, mate and lay eggs. The damage they cause to root cells
obstructs the flow of nutrients and water to the rest of the plant,
weakening it.
Such attacks cost U.S. soybean farmers up to $1 billion in losses
annually. Although SCN-resistant soy varieties are available, the
nematodes can eventually overcome the resistance by evolving into
virulent new races. Fumigating soils before planting can diminish the
pest's numbers, but such chemical control is costly.
As an alternative, ARS Plant Physiologist Ben Matthews and colleagues in
Beltsville, MD, are exploring the use of genetic engineering to bolster
SCN resistance in soybeans using novel or existing genes.
Earlier this year, for example, Matthews' team completed greenhouse
trials of soybean plants whose roots had been engineered with a DNA copy
of one of the nematode's own protein-making genes. When nematodes ingest
the DNA copy, the DNA "deactivates" the expression of the pest's
corresponding gene, so it stops making the protein.
In greenhouse trials at the ARS Soybean Genomics and Improvement
Laboratory in Beltsville, 80-90% of juvenile female nematodes that fed
on the engineered soybean roots died or failed to mature by 30 days.
To continue reading about ARS research on SCN-resistant soybeans, click
here: www.ars.usda.gov/News/docs.htm?docid=1261&pf=1&cg_id=0.
By Jan Suszkiw, USDA ARS
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Mississippi River Farm Nutrient Working Group
Announced
The National Corn Growers Association (NCGA) will
partner with Monsanto and its conservation partners, including The
Nature Conservancy, Iowa Soybean Association, Delta Wildlife and the
American Soybean Association, to form a Mississippi River Farm Nutrient
Working Group.
The group, still in preliminary development stages, plans to engage
agricultural-related interests, government leaders and other interested
organizations in an effort to share findings and best practices, raise
awareness and broaden restoration efforts along the Mississippi River.
The group also plans to discuss how to help growers implement
stewardship projects at a higher rate and how to provide incentives or
enabling policies to assist them in doing so.
“NCGA is pleased to serve as a founding member of the Mississippi
River Farm Nutrient Working Group,” says Bob Dickey, NCGA president.
“Partnerships such as this will help preserve water quality and
conserve wildlife habitat along our nation’s longest river system
while maintaining the high productivity capacity of agricultural lands
that are needed to support the world’s growing needs for food, feed,
fiber and fuel. NCGA sees the developing partnership as an opportunity
to emphasize the importance of the river’s ecosystem sustainability,
environmental impacts and as a vital transportation link.”
Additional details about the Mississippi River Farm Nutrient Working
Group will be announced in spring 2009.
Source: National Corn Growers
Association
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Enhanced
Roundup-Rewards Program Announced
New for 2009, Valent U.S.A. Corporation and Monsanto
Company announced an enhanced Roundup Rewards offering to help farmers
maintain strong yields in their soybean crops and further reduce their
risk during uncertain conditions.
The Start Clean, Stay Clean Assurance Plan for the Roundup Ready
soybeans program, now offers growers up to $13 in risk protection.
Farmers who use Valor, Valor XLT or Gangster residual herbicides
followed by Roundup WeatherMAX, at the proper timing, can receive up to
$13/acre if their field requires a second in-crop treatment in a season.
For more information, visit: blog.cornandsoybeandigest.com/briefingroom.
Source: Monsanto Company
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Soy Research Offers Greener Materials For Wax
Art
The art world could be looking a little greener,
thanks to the efforts of two Iowa State University (ISU) professors.
Tong Wang, associate professor of food science and human nutrition, is
working with Barbara Walton, associate professor of art and design, to
modify soy wax for use in encaustic art.
The historic painting technique has been used since before 500 A.D. and
involves adding colored pigments to heated wax and applying it to wood
or canvas. Soy wax offers a safer, more affordable and environmentally
friendly medium than the petroleum-based microcrystalline wax or costly
beeswax traditionally used in encaustic painting.
The ISU researchers are comparing the functional properties of soy wax
with microcrystalline wax and beeswax, their physical stability and the
conceptual aspects of art made from them.
To find out more about ISU’s soy wax research for art, click here:
www.ag.iastate.edu/aginfo/news_detail.php?var1=707.
Source: Iowa State University
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Miracle Shot Stopped A Killer
Tractor
A single, precisely aimed shot from Jimmy Wood’s
12-gauge stopped the 16,000-lb. beast dead in its tracks, and its
lifeblood began to squirt from a steely vein.
A half hour earlier, cotton farmer Ricky Blackmon had foolishly awakened
the green giant with a screwdriver to short out its starter. To his
utter surprise it awoke with a lurch, and rolled over him.
Though badly hurt, Ricky managed to crawl away and call for an
ambulance. Then in a sudden fit of pragmatism, he dialed up his friend
and neighbor Jimmy Wood to ask a favor.
It was Thanksgiving Day in the early 1990s and farmers across the west
Tennessee countryside were finishing up their harvest and looking
forward to the holidays. Ricky’s harvest had taken him well into the
night, and Jimmy had already gone to bed.
Jimmy was a little shocked when he picked up the ringing phone and his
good friend Ricky hollered, “Get your gun, come over here and shoot
this tractor.”
To learn how this true story ends, click here: deltafarmpress.com/equipment/robinson-column-1217/.
By Elton Robinson, Farm Press editorial
staff
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A Note From The Soybean E-Digest
Editor: Year-End Musings
The next Soybean E-Digest won’t hit your
inbox until 2009. So, here’s wishing all my readers happy holidays and
a prosperous New Year!
I’ll be celebrating Christmas in Kansas this December and am hoping
for good weather to travel there. As a result, I’ll be checking the
Kansas State University (KSU) Research and Extension weather Web site
right before I leave at: www.oznet.ksu.edu/wdl/.
Recently, a look at this Web site reminded me of another reason to
celebrate this month besides Christmas, and that’s the winter
solstice. The word solstice comes from Latin and means “sun standing
still,” says Mary Knapp, state of Kansas climatologist. She adds that
the event received this name because for several days before and after
the solstice, the sun’s noontime position appears to be the same.
According to Knapp, Dec. 21 marks this year’s winter solstice, which
means the days will become longer as the sun climbs higher in the sky. I
for one am looking forward to the sun climbing higher and a return to
more daytime light.
I’m also hoping that some of you will take the time over the holidays
to suggest ideas for the Corn & Soybean Digest (CSD) quick
polls, which the editors have recently been posting online. You can
view the latest poll on fertilizer purchasing decisions by clicking
here: cornandsoybeandigest.com/.
(The poll question is just to the right of the “What’s New” top
section of the Web site.)
Coming up with good ideas for these polls isn’t easy. So, any time you
have an idea for a quick poll question, please write to me. When
writing, let me know your name, where you live or farm, what your poll
question might be and whether or not I have permission to use your ideas
in a future Soybean E-Digest newsletter. You can contact me (John
Pocock) at: john.pocock@penton.com.
As always, you’re welcome to write to me if you have concerns or
questions about this issue. I look forward to hearing from you. Thanks
for your readership, best wishes for 2009 – and farm on!
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