soybeans

Indiana is set to have unexpectedly big corn and soybean harvests this fall. That means continued tight profit margins for farmers and more low food prices for consumers.

Purdue University agronomists made their annual announcement of the state’s crop production forecast at the State Fair Thursday.

They say yields should better than expected, after weeks of wet, patchy weather. But economist Chris Hurt says that extra supply for the same demand will mean bad prices for Hoosier farmers.

Indiana’s top agriculture official has been tapped to oversee global farm trade for the Trump administration.

Indiana Department of Agriculture director Ted McKinney now faces a Senate confirmation to become the USDA’s first-ever trade undersecretary.

He says he’s grateful for the support he’s received since getting the news.

“I am so honored to be nominated by the president, and I look forward to serving if confirmed,” McKinney says.

The $130 billion merger between Dow and DuPont received conditional federal approval Thursday.

The companies still have to address areas where the Department of Justice says they’ll have too big a market share, but those aren’t the areas that have Indiana farmers worried.

In approving the merger, the DOJ says Dow and DuPont have to relinquish control of a few assets – a chemical plant in Texas for Dow, and two of DuPont’s insecticide and herbicide brands.

Indiana’s corn and soybean growers are getting seeds in the ground this week – but more rain on the way could put farmers in a difficult position.

As of Monday, 56 percent of the state’s projected corn crop and 23 percent of the projected soybean crop have been planted.

Hoosiers will see more farm equipment in the fields in the next few weeks, as spring corn and soybean planting ramps up.

The U.S. Department of Agriculture expects farmers in Indiana and nationwide to plant more soybeans than ever this year, while corn acreage looks to hold steady.

Purdue University agronomist and self-named “corn guy” Bob Nielsen says corn prices are still lackluster, with plenty in storage, and that’s driven soybean prices up.

 

President-elect Donald Trump is doubling down on his criticisms of U.S. trade relationships with China and Mexico, which has some wondering if a trade war is in the works.

Purdue University economist Larry DeBoer says the hallmark of a trade war is retaliation.

For example, higher U.S. taxes on Chinese steel imports could make China chooser to buy fewer American products, including those from Indiana, like soybeans or engine parts.

But DeBoer says even threat of a trade war is already affecting Hoosiers.

Indiana’s corn and soybean industries are pushing back against a New York Times investigation that alleges genetically modified crops, or GMOs, haven’t done what they set out to do.

Companies like Monsanto made GMOs a mainstay in agriculture 20 years ago, by altering corn and soybeans to kill pests and withstand chemical use.

Valerie Everett / https://www.flickr.com/photos/valeriebb/273444106

 

Indiana farmers aren't harvesting quite as much corn as expected this year — but they should still have record yields for soybeans.

As of this month, the USDA is expecting Indiana soybean yields of 59 bushels per acre. It's even better than their initial forecast, and it beats 2014's state record.

Consolidated Grain & Barge

A major soybean distributor will spend more than $30 million to expand its operations on the Ohio River.

Consolidated Grain & Barge, or CGB, is aiming to capitalize on growing export markets in countries like China by expanding its plant at the Port of Indiana-Mt. Vernon in Posey County.

The expansion will more than double CGB's soybean processing capacity there, with a new daily output that will fill 130 semi-trucks, or around three river barges.

accozzaglia dot ca / https://www.flickr.com/photos/aged_accozzaglia/2705768470

 

Harvest season is beginning for corn and soybeans in Indiana.

The latest USDA numbers say 74 percent of Indiana corn is mature, and 15 percent has been harvested. That's a little better than average. Soybeans are slightly behind, with 9 percent harvested as of this week.

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