Evening Edition | Thursday, May 12, 2022
In tonight’s evening edition, read the latest data from the WASDE report, plans to expand farm production, and strategies for corn planting this spring.
Today's World Agricultural Supply and Demand Estimates report projects larger U.S. soybean stocks vs. the year earlier.
“Note that the USDA lowered domestic corn yields vs. the trendline figure from the February Outlook report, pointing to poor weather and slow planting. I’m treating this number cautiously. Directionally, it’s the right move, but they may have adjusted too low too soon ... time will tell,” says Jake Hanley of Teucrium Funds.
Expansion of Farm Production
During a 15-minute speech on a hot afternoon, Biden described U.S. farmers as “the breadbasket of democracy” and announced three steps to expand farm production. “We’re reducing the red tape so it’s easier for farmers to conserve inputs and double-crop.”
The USDA will expand the number of counties insurance is offered for double-cropping, establish a new grant program for sustainable American fertilizer production, and streamline applications for advice and cost-share funds for precision ag techniques.
Editor Bill Spiegel reports on corn planting strategies.
With the season off to a later-than-normal start, growers may be tempted to change hybrid maturity dates. Brent Tharp, technical product manager at Wyffels Hybrids, suggests sticking with the original hybrid intentions until at least the end of May.
- READ MORE: There's still time to plant corn