Wheat traded lower in most of the session this week, except for March 30. Early selling was tied to improving conditions for the Southern Plains winter wheat crop and from position squaring ahead of the March 30 U.S. Department of Agriculture report while strength March 30 was because of a friendlier-than-expected acreage report from USDA.
Anthracnose a big concern; white mold a worry, too Area dry bean and soybean farmers will face some new, or at least expanded, challenges this growing season. Dry bean producers are confronted with anthracnose, a little-known disease that can hammer both yields and quality. Soybean producers, in turn, could face more problems with white mold, a crop disease that dry bean producers have battled for years.
The wheat markets had losses of 15 to 26 cents last week. The winter wheat markets had the larger losses due to beneficial rains in much of the winter wheat belt and losses in the corn market. Minneapolis wheat had lighter losses due to strong export sales and lingering concerns about dry soil conditions in the Northern Plains. Markets will likely spend this week positioning ahead of the March 30 reports.
Keith Deutsch knows that part of his job is promoting his crop. He knows he needs to be realistic, too. “It just doesn’t look too good for this spring,” says Deutsch. a Plaza, N.D., farmer and president of the U.S. Durum Growers Association. “It may sound strange for someone from the association to be saying that.” But Deutsch and other area durum boosters say they have to acknowledge the obvious.
The corn market gained 8 to 10 cents in both old and new crop contracts last week. Corn found support from smaller South American production and tighter U.S. old crop ending stock estimates. The U.S. Department of Agriculture will release its next monthly crop production and supply/demand report on March 9.
A Northwood, N.D., farm couple are among the National Outstanding Young Farmers for 2012. Troy and Bobbi Jo Uglem received the award at the recent National Outstanding Young Farmers Awards Congress in Springdale, Ark.
The corn market lost 5 cents in March and 15 cents in December last week. Corn continued to trade in its sideways pattern. The market found support from fresh export sales along with tight ending stocks, while the new crop market is finding pressure from larger acreage and yield estimates.
The corn market gained 10 cents last week. The futures came under pressure mid-week with larger acreage and production estimates for 2012. Buying interest did resurface late last week with fresh export sales.
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