The USDA released its February World Agricultural Supply and Demand Estimates (WASDE) report Friday morning.

President of AgResource Company in Chicago, Dan Basse says U.S. corn and soybean yields are down.

"Soybean yield fell half a bushel per acre, corn almost two and a half, so that was supportive to the overall theme but then as we looked at the demand side of things, the Chinese soybean import number was dropped two million metric tonnes. Brazil's crop came down five million metric tonnes to 117 million metric tonnes, while the Argentinian corn crop got record large at 46 million metric tonnes."

Basse says U.S. farmers also decided to plant their lowest amount of winter wheat in 110 years.

He adds now they're just waiting to see what will happen in the U.S. - Chinese trade negotiations next week.

More Ag News

Stats Canada Releases Seeding Intentions Report

Canadian farmers anticipate planting more acres of wheat, corn, dry peas and oats in 2019 compared with 2018, while seeding intentions for canola, soybeans and lentils have declined relative to the…

Corn Planting Expected To Start Next Week

Corn planting could get underway in Manitoba as early as next week. That from Morgan Cott, agronomist with the Manitoba Corn Growers Association. "The biggest concern I think is them [farmers] being…

Thailand Company To Purchase HyLife

Thailand's biggest agriculture conglomerate Charoen Pokphand Foods Pcl (CPF) has stated that it will acquire Manitoba-based pork producer HyLife for $498 million dollars. The deal would give CPF a…

PembinaValleyOnline.com is your only local source for community news and information such as weather and classifieds.

Login