THE LAND — NOVEMBER 12/NOVEMBER 19, 2021
www.thelandonline.com — “Where Farm and Family Meet”
PAGE 19
Calendar of Events Visit www.TheLandOnline.com to view our complete calendar & enter your own events, or send an e-mail with your event’s details to editor@thelandonline.com. Nov. 16 — Federal Land Program Forum — Oakaloosa, Iowa — Programs like EQIP and CSP provide valuable financial and technical assistance to farmers; but these national programs are complex. This forum is a chance to share experiences, frustrations, questions and concerns. Contact Tamsyn Jones at tamsyn@practicalfarmers.org or (515) 232-5661. Nov. 16 — Taking Charge of Your Finances: How to Survive and Thrive — Melrose, Minn. — Participants will learn how to organize and use financial records; develop and analyze financial statements; and make informed decisions regarding finances and production. A case study farm will be used to help practice interactions with lenders. Contact Dana Adams at adam1744@umn.edu or (320) 204-2968. Nov. 16 — Land Rent Meeting — Melrose, Minn. — Topics include local historic and projected farmland rental rate trends, current farmland values and sales, and a worksheet that will help determine a fair rental agreement. Contact Nathan Drewitz at ndrewitz@umn.edu or (608) 515-4414.
Nov. 16 — Farmers Night Out: Should they stay or should they go? — Greenwald, Minn. — Farmer panel will answer questions and share experiences with a variety of heifer raising practices. Contact Dana Adams at adam1744@umn.edu or (320) 204-2968. Nov. 16 & 17 — National Cover Crop Summit — Online — Eight sessions featuring cover crop establishment, building biomass, weed management, pest control, plus a soil health panel featuring experienced cover crop growers. Contact Cover Crop Strategies at info@covercropstrategies.com or (866) 839-8455. Nov. 17— Federal Land Program Forum — Storm Lake, Iowa — Contact Tamsyn Jones at tamsyn@practicalfarmers.org or (515) 232-5661 Nov. 18 — Land Rent Meeting — Hamburg, Minn. — Topics will include historic and projected farmland rental rate trends, current farm land values and sales, input costs, corn and soybean prices and personalized worksheets. Contact Colleen Carlson at trax1042@ umn.edu or (507) 521-3640. Nov. 18 — Land Rent Meeting — Jordan, Minn. — Contact Colleen Carlson at trax1042@umn.edu or (507) 521-3640.
Nov. 18 — Fitting in Food Safety — online — This session will offer ideas and insight to keep farms of all sizes providing safe and reliable food to customers. To register, visit z.umn.edu/know2grow. Contact Adam Austing at aausting@umn.edu or (320) 249-5929. Nov. 23 — Farmland Rental Workshop — Buffalo, Minn. — Topics include local historic and projected farmland rental rate trends, current farmland values and sales, and a worksheet that will help determine a fair rental agreement. Contact Dave Bau at bauxx003@umn.edu or (507) 360-0664. Nov. 23 — Annie s Project: Farm Business Management — Clarion, Iowa — Course participants will learn effective strategies to make good decisions in the five key risk management areas of: financial, human resources, legal, marketing, and production. Contact Missy Loux at louxm@iastate.edu or (515) 532-3453. Nov. 29 —Farmland Rental Workshop — Hutchinson, Minn. — Contact Dave Bau at bauxx003@umn.edu or (507) 360-0664. Nov. 29 —Farmland Rental Workshop — Gaylord, Minn. — Contact Dave Bau at bauxx003@umn. edu or (507) 360-0664.
China’s purchases of Brazilian soybeans earlier than normal NYSTROM, from pg. 8 week to hit the current USDA export projection of 2.09 billion bushels. Cumulative weekly export inspections are down 36.7 percent from last year. The USDA is projecting year-on-year exports to fall 7.7 percent. The USDA attaché in China matched the USDA’s projection that China will import 101 mmt of soybeans in 2021-22. China imported 99 mmt of soybeans in 2020-21. Reportedly, China’s crush is down 15 percent from last year. The U.S. share of China’s soybean imports in 2020-21 was 37.2 percent. Soybean harvest wasn’t as far along as of Oct. 31 as expected. Soybean harvest was 79 percent complete vs. 81 percent on average and 82 percent estimated. The monthly NASS September Crush report was 164.2 million bushels, falling from 168.3 million bushels in August but slightly higher than expected. Soyoil stocks at 2.18 billion pounds were slightly lower than expected but put 2020-21 soyoil stocks at a nine-year high. The average trade estimates for the November WASDE are: U.S. yield 51.9 bu./acre, up .4 bu./acre from October (the record was in 2016 at 51.9 bu./ acre); production 4.484 billion bushels, up 36 million bushels from last month; ending stocks at 362 million bushels, up 42 million bushels from October. World ending stocks are estimated at 105.48 mmt vs. 104.57 mmt last month. China announced it will release an unspecified
amount of state reserves of gasoline and diesel to fight high prices and supply issues. They also told citizens to stock up on food supplies before the winter sets in in case of emergency. This type of announcement is usual, but it came earlier than normal this year. The USDA’s 10-year baseline report forecasts 202223 soybean acres up 300,000 acres to 87.5 million acres. Carryout for 2022-23 is estimated at 300 million bushels compared to this year’s 320 million bushels. Outlook: Attention will focus on the November WASDE report and then back to South American weather and the pace of U.S. soybean exports. Brazil’s new crop exports are expected to start about a month earlier than last year when their planting and development were hindered by dry conditions. A stronger U.S. dollar added to the attraction of Brazil’s soybeans. Trade chatter during the week indicated China was buying December/January Brazilian soybeans. This is earlier than normal and cuts into the window when the United States is usually the origin of choice. It will be difficult for the United States to regain lost exports. The United States may be overestimating U.S. exports by 100 million bushels due to the slower pace of Chinese buying and cheaper South American prices. We’ll see how the USDA addresses it on Nov. 9. Prices may be expected to slip further with the U.S. harvest nearing completion and ahead of the November numbers.
Presently, the recent high at $12.66.25 level in January soybean represents resistance at $11.95.75, the low in October, as short-term support. From this week’s high to the weekly close January soybeans fell 55.5 cents. For the week, January soybeans tumbled 44 cents to $12.05.5, March down 41.5 cents at $12.17.5, and the November 2022 contract dropped 30 cents to $12.10.5 per bushel. Nystrom’s notes: Contract changes for the week ended Nov. 5 (December contract): Chicago wheat was 6.25 cents lower at $7.66.5, Kansas City was 7 cents lower at $7.78.75, and Minneapolis crumbled 42.75 cents to $10.09.5 per bushel. All three classes of wheat set new contract highs this week before retreating. The new high in the December contracts: Minneapolis $10.86.5, Chicago $8.07, and Kansas City $8.14.5 per bushel. v
d
CUSTOM FENCE BUILDERS SOUTHWEST MINNESOTA 507-956-2657
Daniel & Terese Hall 40133 - 620th Ave. Butterfield, MN 56120
