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Brazil's
Soybean Crop May Face More Rainfall Shortages
Dry conditions will likely prevail in many
soybean-growing regions of Brazil until about mid-February due to the
continuation of an existing La Niña weather pattern, says Larry
Cosgrove, WeatherAmerica meteorologist.
"With a La Niña event, South America tends to have more drought
conditions," says Cosgrove. "Right now, the precipitation-causing
mechanisms are really scattered in South America and a huge amount of
moisture is being channeled north into Central America."
Brazilian soybean growers may have to wait several more weeks before
ample rains return. "It will likely stay dry in much of Brazil for
another 45 days, or until about Feb. 15," says Cosgrove. "After that, La
Niña will be waning. I think La Niña will be breaking down
before spring."
A quick end to La Niña would be good news for U.S. soybean growers.
"A strong La Niña weather pattern through summer can cause dry
conditions from the High Plains to the East Coast," explains Cosgrove.
"If La Niña breaks down sooner, then a healthy moisture situation
is more likely during spring and summer for U.S. farmers. In this case,
if La Niña wanes in February, then it will likely be dry in March
but not in April for Midwestern farmers."
Current weather models show the odds of La Niña ending
before mid-spring are about even, says Mike Palecki, regional
climatologist for the Midwestern Regional Climate Center. "Typically, a
strong to moderate La Niña event is associated with
less-than-normal rainfall amounts in or near the equatorial zone, which
includes areas cleared for soybean production in Brazil," he says. "In
the U.S., if La Niña continues into the middle of spring, then the
western Corn Belt would potentially be dry first and then dryness would
spread further east, but it's still too early to make that prediction."
For now, soil moisture levels are generally fully recharged in most of
the Midwest, so some dryness may actually be welcome, says Palecki. "A
dry spring would allow for faster planting," he says. "So, a certain
amount of dryness this spring would be a positive for Midwestern
farmers, as long as it's not too dry."
However, even if La Niña ends in February, it is unlikely to be
soon enough to help soybean growers in Brazil avoid yield loss from
inadequate rainfall this season, says Cosgrove. The shorter La Niña
lasts, the better for farmers in both South America and the Midwest, he
adds.
For more information on WeatherAmerica, click here: www.WEATHERAmerica.net. To view
today's updated U.S. Seasonal Drought Outlook from the National Weather
Service, click here: www.cpc.ncep.noaa.gov/products.
To learn more about soybean production in Brazil, click here: cornandsoybeandigest.com/soybeans/brazil/.
By John Pocock
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Are Soybean Futures Ready To Surpass The
All-Time High?
"While [soybean] prices near the teens were startling
a month ago, $13 futures are not that far away now," points out Chris
Hurt, a Purdue University Extension economist, in a prices and outlook
report for soybeans on Dec. 28, 2007. "July 2007 futures made contract
highs today at $12.72/bu. So, the retest of the $12.90 all-time high is
virtually here."
For farmers trying to track the potential for an all-time high soybean
price this year, they would do well to look at "topping patterns,"
recommends Hurt. "Generally, when a commodity market is pushing toward a
top, there will be many 'limit move days,'" he explains. "Generally,
there will be multiple 'limit up moves' -- perhaps even on consecutive
days. Also during the period of topping, one often sees both 'limit up'
and 'limit down' days -- that is to say enormous volatility."
The recent successive increases in soybean futures prices indicate that
a period of topping may just be starting, he adds. "The nearly 40-cent
'up market' the day after Christmas may be a signal that the topping
action is now beginning," notes Hurt. "That topping action could extend
over the next couple of months and would likely mean a wild ride is in
store."
To read Hurt's entire comments from last Friday's prices and outlook
report for soybeans, click here: www.agecon.purdue.edu/extension/prices.
By John Pocock
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Minnesota
Soybean Prices Jump 93 Cents From November
Prices received by Minnesota farmers for soybeans for
December averaged $9.90/bu., an increase of 93 cents from the November
average price, according to the USDA, NASS Minnesota Field Office. Corn
was up 50 cents at an average December price of $3.70/bu.
The prices received by U.S. farmers for December averaged $10.40/bu. for
soybeans and $3.88 for corn. For more information on average prices
received by farmers by state and commodity for December, click here: usda.mannlib.cornell.edu/usda.
Source: USDA, NASS Minnesota Field
Office
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Summer Heat May Have Reduced Soybean Seed
Supply
Midsouth farmers already know that late-summer heat
and drought hurt their soybean yields. Now, concerns about soybean seed
availability for next year are surfacing.
In Arkansas, the germination average of soybean seed tested so far by
the Arkansas State Plant Board is in the low 80s.
"That isn't great," says Mary Smith, director of the Plant Board Seed
Division. "We don't do cold tests. We do accelerated aging tests and
those were averaging in the 60s. Of course, the current numbers are an
average. There are some very good beans available and others that
probably aren't sellable."
For comparison, last year's seed quality was very good -- in the low 90s
for germ and in the low 80s for accelerated aging.
In mid-November, Jeremy Ross attended several meetings where Midsouth
agronomists and Extension specialists said their states would see tight
soybean seed supplies.
"I've got the same belief," says the Arkansas Extension soybean
specialist. "The quality is a worry and the late-planted seed didn't do
well. So far, both the germ and (accelerated aging) tests are lower than
I'd like to see."
To read the rest of this article on soybean seed quality and
availability concerns in the Midsouth for 2008, click here: deltafarmpress.com/topstory/071231-seed-supply/.
By David Bennett
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ISU To Lead
National Effort To Boost Soybean Yields
Many soybean producers across the U.S. may be missing
out on high-yielding soybeans, according to Palle Pedersen, Iowa State
University (ISU) Extension soybean agronomist.
Reduced funding for Extension education and applied science on a
national level and an emphasis on genetics has led to a reduction in
applied research, says Pedersen. "The mindset for a producer is often to
buy the most expensive seed and then believe that is enough to maximize
yield," he says. "But genetics is only one part of the equation. Most
soybean producers are giving up easy bushels."
Pedersen is spearheading an effort to coordinate six land-grant
universities in developing guidelines and education resources for
soybean farmers nationwide. A checkoff-funded grant from the United
Soybean Board will finance the research and outreach collaboration of
ISU, University of Minnesota, Michigan State University, University of
Arkansas, University of Kentucky and Louisiana State University.
ISU will be the lead institution in the project, which will start in
fall 2008 and continue through 2011. The six states represented account
for 33% of soybean production nationwide.
Current soybean varieties have the potential to yield more than 100
bu./acre, but this potential is almost never realized in a field
environment, Pedersen says. This new project will collect data to
understand the yield correlation between genetics and agronomic
practices. The results will then be part of an outreach component to
help Extension specialists educate and provide materials for producers.
"Unlike Iowa, many state Extension agencies do not have a member of
their staff dedicated to a single crop," says Pedersen. "Team efforts
like this one will continue to be more important in the future."
The project's underlying goal is to help soybeans stay competitive as
part of the crop rotation. Soybean production is facing increased
competition internationally from South America and domestically from
corn acres needed to feed ethanol production. In 2006, planted soybean
acres in Iowa were down 15%.
For more information about managing soybeans for greater yield
potential, click here: extension.agron.iastate.edu/soybean.
Source: Iowa State University
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New Tax
Preparation Tips Publication Available To Farm
Families
The new "2007 Ag Income Tax Update for Farm Families"
from University of Minnesota Extension outlines tax law changes
affecting farm families.
You'll find it at www.cffm.umn.edu
under "Publications," then click on "Farm Management Topics." Your
regional or county Extension office may also be able to provide you a
printed copy.
Topics covered include the standard deduction and personal exemption,
the federal mileage deduction, health spending accounts, depreciation
and self-employment tax.
One notable aspect for 2007 is that the "Section 179 Depreciation
Deduction" has been extended. The provision, which was scheduled to
expire, was extended as a result of the passage of the Small Business
and Working Opportunity Act of 2007. It is in effect through the tax
year ending Dec. 31, 2010. This will enable farmers to take advantage of
higher depreciation rates. See the "Ag Income Tax Update for Farm
Families" for more details.
A section on CRP payments and self-employment tax explains some of the
confusing IRS rulings and changes regarding how you are taxed based on
your farming status. While the situation may still be in flux, this
publication provides important cautions and helps you understand your
options.
There is a deferral option for taxes owed on crop insurance proceeds
received as a result of destruction or damage or the inability to plant
crops because of a natural disaster. "Ag Income Tax Update for Farm
Families" gives a real-life example of the formula for computing the
deemed revenue the insured received, taking into account multiple
factors.
There's also an appendix, which includes federal and state tax rates,
references and other information. However, this Extension publication is
an education piece only; it's not intended to be legal or financial
advice. For specific questions on your farm business, contact your tax
preparer.
By C. Robert Holcomb and Gary Hachfeld,
University of Minnesota Extension
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The
Mysteries Of Yellow Soybeans
What are those mysterious, green wheel tracks? Kevin
Capistran has seen them often in northwestern Minnesota soybean fields:
healthy green plants that follow equipment tracks through stretches of
sickly yellow soybeans. Or -- in dry years -- just the opposite: yellow
wheel tracks cutting through green soybeans.
Wheel track syndrome is just one of the unexplained mysteries connected
with iron deficiency chlorosis, a complex, poorly understood problem
that robs soybean yields and costs Midwest farmers millions of dollars.
It's a problem that's affecting many more farmers these days, as soybean
production moves north and west, into chlorosis-prone soils with high
concentrations of carbonates and salts.
To read the rest of this article about managing iron chlorosis-prone
soils for soybean production, click here: cornandsoybeandigest.com/soybeans.
By Liz Morrison
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Manganese And Soybean
Production
Within the past two years, there has been substantial
interest in the application of manganese (Mn) for soybean production.
This interest is enhanced by reports that this micronutrient is
especially important in glyphosate-tolerant soybeans. Responses to Mn
have been reported in Indiana and Kansas.
The response in Indiana might be expected because soils in the northwest
and northeast part of the state have low levels of Mn. In Kansas, the
responses were reported in production environments in which yields were
in the range of 70 bu./acre.
Manganese has also been linked by some to iron chlorosis. So, it was
important to evaluate the impact of this micronutrient on soybean yield
in Minnesota.
To read the rest of this article about the impact of Mn on soybean
production in Minnesota, click here: minnesotafarmguide.com/blog/?p=43.
By George Rehm, University of Minnesota
Extension soil scientist
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Indiana Crop Workshops To Help With Pest
Management Decisions
The Purdue University Pest Management Program will
sponsor the 2008 Crop Management Workshops from Jan. 28 to Feb. 1 at
five locations around Indiana.
"Purdue's Crop Management Workshops educate crop consultants,
agronomists and fertilizer, chemical and seed company representatives
about important pest-control issues for the coming growing season," says
John Obermeyer, Purdue Extension integrated pest management specialist.
"The agribusiness professionals involved want to help guide producers
toward economically and environmentally sound pest-management
decisions."
The one-day workshops are scheduled from 8:30 a.m. to 4:30 p.m. and will
consist of a general session or an optional cropping session. The
general session will include topics such as weed control challenges,
foliar fungicide applications, the benefits of pesticides, and new
insects affecting crops. The optional cropping session is for those
desiring a more agronomic emphasis, and includes topics such as weather
expectations for 2008, new manure regulations and an everyday guide to
on-farm research.
The workshop locations include:
- Jan. 28 - Shipshewana, Farmstead Inn and Conference Center
- Jan. 29 - West Lafayette, Beck Agricultural Center
- Jan. 30 - Danville, Hendricks County Fairgrounds
- Jan. 31 - Jasper, Jasper Inn and Convention Center
- Feb. 1 - Shelbyville, Indiana Downs.
Registration is limited and is $75/person, which includes lunch, breaks
and the Corn and Soybean Field Guide. To register online or download a
registration form, visit www.conf.purdue.edu/crop. For
additional information concerning registration, contact Tom Robertson at
800-359-2968, tlrobertson@purdue.edu. For
information concerning certification or content, contact Obermeyer at
765-494-4563, obe@purdue.edu.
Source: Purdue University Extension
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Consumers
Willing to Spend More For Less Trans Fats
A recent study funded by the United Soybean Board
(USB) and soybean checkoff showed that consumers will pay more for
healthier foods. Some ways consumers are trying to do this is by
reducing trans fats, as well as by increasing the intake of the "good
fats" or boosting consumption of beneficial ingredients like soy
protein.
The USB and soybean checkoff study showed that 60% of consumers are
willing to pay extra for healthy foods. This has not always been the
case. This year's results reverse a four-year downward trend in
consumers' willingness to spend more on healthy foods. Because of this,
demand for soybean oil -- commonly labeled as vegetable oil, which
contains zero grams of trans fat per serving, no cholesterol and is low
in saturated fat -- is likely to increase as consumers become more
health conscious.
For more information about the study, click here: www.soyconnection.com/newsletters/soy-connection.
Source: United Soybean Board
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Soyfoods May
Help Asthma Sufferers
Recent research shows that the isoflavones in soyfoods
may help asthma sufferers. A study done at the Northwestern University
Feinberg School of Medicine in Chicago examined the effects of
isoflavones from soy in cells and then in patients with asthma. The
results suggest that soyfoods may be of benefit to asthma patients.
Dr. Ravi Kalhan and his team worked first with cells that are a part of
the immune system (human peripheral blood cosinophils) and found they
produced much less of a substance (leukotrine) known to cause
inflammation. Airway inflammation is a basic characteristic underlying
asthma.
Dr. Kalhan and his colleagues then tested whether the isoflavones would
have similar effects in humans and, after four weeks of consuming
isoflavone supplements, cells taken from the patients showed one-third
less of the inflammatory substance than before taking the isoflavones.
Isoflavones (phytoestrogens), which are found almost exclusively in
soyfoods, are being studied for their benefits in a wide range of areas
including coronary heart disease, osteoporosis, cancer and the
alleviation of hot flashes, among others. In addition, in 1999, soy
protein received a health claim in by the U.S. Food and Drug
Administration for its ability to lower cholesterol. Eating whole
soyfoods provides protein and the isoflavones.
"Fortunately for today's health-conscious consumers there's a wonderful
variety of soyfoods out there that can easily add their many benefits,
including isoflavones, to today's meals," according to Linda Funk,
executive director of The Soyfoods Council.
"A simple snack of roasted soy nuts, now to be found in almost every
supermarket snack and nut section, packs an isoflavone punch. In that
same section are soy chips, crisps and other snacks."
For more information about soyfoods and the many forms and types, as
well a wealth of nutrition research and information, visit: www.thesoyfoodscouncil.com.
For more information on the recent study showing a possible link to
reducing asthma by eating soy isoflavones, click here: www.blackwell-synergy.com.
Source: The Soyfoods Council
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Feedback Wanted: A Note From The Soybean
E-Digest Editor
It's the start of a new year and time for the editor
of this newsletter to evaluate past performance and make decisions about
changes, if any, that might be made to better serve you, the reader.
If you have any thoughts on what you like or dislike about past issues
or if you have ideas on what you'd like to see more of in future issues,
please write to me (John Pocock) at: jpocock@csdigest.com. I'm
especially in need of ideas for topics that you would like me to cover
in the weeks and months ahead. As always, you're also welcome to write
to me if you have concerns or questions about this issue.
I hope to hear from you soon. Thanks for your readership!
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