Here's some of the issues we're covering in this issue: It's been a record year for exports of U.S. soy products. Over 1.5 billion bushels of soy, valued at more than $12 billion, were exported from the United States this year. Also this week, statistics tell a troubling story for the U.S. ethanol industry. In its December 11 World Agricultural Supply and Demand Estimates, USDA projected lower U.S. corn use mostly due to reductions in ethanol use and corn exports. Ethanol use was projected 300 million bushels lower (7.5 percent) as prospects for blending above federally mandated levels decline. Assuming this is accurate, then consider this: In response to the ethanol industry, U.S. corn acreage has jumped. Currently, some 25 percent of the U.S. corn crop is being processed into ethanol. Since so much corn was needed for ethanol, where did the extra corn acreage come from?. These are issues we tackle this week, and many others in this weeks Crop News Weekly. Happy reading.

China is again the top importer of U.S. soybeans with 490 million bushels, which go toward human and animal consumption. China also imported 171,000 metric tons of soy oil from the United States, which is used as a cooking oil and other food uses. (To read the complete article, click on the headline above)

Despite reductions in expected meat production, corn feed and residual use was raised 50 million bushels as lower ethanol production reduced the availability of distiller grains. Corn exports are projected 100 million bushels lower reflecting strong competition from larger foreign grain supplies and the slow pace of sales to date. Projected ending stocks were raised 350 million bushels. - Elton Robinson, Farm Press Editorial Staff
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The same acres, growing corn, “yield 150 to 200 bushels per acre.” That means a net storage deficit of approximately 1.5 billion bushels. As a result, farmers and elevators have been building storage “like crazy” for the last four or five years. - David Bennett, Farm Press Editorial Staff
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The ASA Board’s regularly scheduled winter meetings commenced Tuesday in St. Louis. During the meeting, board members had the opportunity to review the allegations of improper activities that have surfaced and voted unanimously on Wednesday to call for an investigation. - Corn & Soybean Digest
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The most agriculturally productive soils in the world, Mollisols, (found, for example, in Iowa and Ukraine) contain up to 3.3% carbon. Carbon is black gold. Yet, agricultural soils have lost, on average, half of their carbon due to intensive cultivation and other degradations of human origin, says Bruno Glaser, soil physics department, University of Bayreuth, Germany. - Corn & Soybean Digest
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Monsanto estimates the plantings, which are projected to increase 17% over 2008, to represent about a third of the U.S. total crop. Corn yields have doubled since 1970 and are poised to double again in the next 20 years, says Robb Fraley, Monsanto's executive vice president and chief technology officer, at a Canaccord Adams agricultural industry conference in Toronto. - reported in Corn & Soybean Digest
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Prices for grain, fuel and fertilizer will continue to be sensitive to economic conditions around the globe, says Erickson. “This year, nutrient source is the key,” he emphasizes. “Prices for urea have come down substantially since summer, whereas potash remains high in price due to tight supplies.” - Corn & Soybean Digest
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“Given what some people are paying for rent, if prices fall much further, some people could be in trouble,” says Patrick Westhoff, co-director of the Food and Agricultural Policy Institute (FAPRI) at the University of Missouri. - David Hest, Farm Industry News
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Growers who have their finances in order should be able to find available credit, but at a higher cost. - Mark Moore, Farm Industry News
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For details about these and other sessions, contact Infocast at 818-888-4444." - Farm Industry News
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