CPS Internship

Hey guys great news. I started my internship this week and let me tell you I have learned soooooo much. So far I have learned how to take tissue samples to be sent in the lab and how to drive a truck with a loaded nurse tank behind me. I even got to go to fields by myself today and take samples alone. Te hard part was finding the fields because I have never used a plot map before or had to actually use county signs like 500N. Let me tell you my GPS came in handy and so did my dad and his knowledge because I got lost. I ended up being bout five miles in the wrong direction, but in the end I figurd it out and got seven out of the nine tests done in the two hours I had to, get them which was good. I also got to know what it feels like to drive a truck with a nurse tank hooked up to it. Man when it is loaded, it is harder than I thought it would be. Going slow was my best friend, but once it was unloaded it was so much easier, especially when I needed to slam on the breaks. People really don't pay attention on back country roads, even when there is a big sprayer in front of me. But either way, so far this internship has been great and I can't wait to see what else is in store for the summer!!!! If you ever get a chance to take sin internship, I really reccomend it, it is defiantly worth being sore from walking fields.

Mother's Day

I know this is a tad bit late but better late than never. I just want to let all those mothers out there Happy Mother's Day and we really appreciate you and everything you have done for us over the years. I am so happy for everything my mom has done for me especially lately since I am moving for the summer. It is scarey enough moving, but leaving her is the hardest. She is making it easier though. So Thanks Mom for EVERYTHING!!

                

Could Soybeans Best Old Record of $16.63?

May 11, 2012

By: Fran Howard

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Soybean producers should be smiling as they wrap up the 2012-13 planting season.

USDA’s World Agricultural Supply and Demand Estimates, released May 10, showed that both U.S. and world ending stocks of soybeans are nearing record lows and analysts are not ruling out a spike in prices that bests the 2008 all-time high of $16.63 for the nearby futures contract.

First the numbers:

Ending stocks of soybeans were substantially lower than the trade anticipated, with old-crop ending stocks at 210 million bushels, compared with an average estimate of 221 million bushels. New-crop bean stocks were even lower at 145 million bushels, compared with an average trade estimate of 170 million bushels.

For the 2008-09 crop year, ending stocks fell to 138 million bushels. "This report puts soybean ending stocks right down there with 2008’s. The stocks-to-use ratio is well below 5%. This is very reminiscent of 2008," says Chad Hart, agricultural economist at Iowa State University. USDA left the 2012-13 soybean yield at 43.9, which could prove low if planting progress continues at its current pace and the growing season remains favorable.

"The soybean market is diverging quite a bit from the corn market," says Brian Basting, analyst with Advance Trading, Bloomington, Illinois. Basting was the commentator on an MGEX press conference call following the report. "We are looking at the impact of a much smaller crop in South America," Basting says.

World Supply and Demand

USDA now estimates the Argentine soybean crop at 42.5 million metric tons, but Basting says some analysts anticipate that production there will drop below 40 million tons by the time the final numbers are tallied. Brazil’s 65-million-metric-ton crop could also decline, he says.

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As China and other buyers turn to U.S. suppliers for soybeans in 2012-13, U.S. soybean exports could reach record-large levels. "USDA is implying a fundamentally bullish season through new harvest in South America," says Jack Scoville, market analyst with Price Futures Group, Chicago. The 2013 South American harvest will be the first real opportunity for U.S. soybean prices to back off, he adds.

"With stocks projections as tight as they are on both old and new crop, the market will be very sensitive to weather," Scoville states. "With any type of a hiccup, prices could be sharply higher. New records could be set—easily—but it will take weather to do that." He notes that the previous record-high soybean price was $16.63. "Can we do that again? Absolutely," he says.

After that, though, USDA is projecting a large rebound in world soybean production, with 2012-13 world production up 15 percent, compared to the current marketing year. "We are seeing a worldwide response to fill the soybean need," says Hart.

The Wildcards

As for exports, USDA has exports, primarily to China, rising over the next 18 months. "China has booked this year’s soybeans out of South America and those contracts are expected to be honored," Scoville notes. "Now China is buying new-crop out of the United States."

China shifted some soybean acreage into other crops, primarily corn and wheat, this year increasing its need to import soybeans, both for oil and animal feed. "We need to continue to watch China," says Hart. "Will U.S. exports to China hold up? Prices are getting close to the level that, if China is going to pull back, it will start to do that."

With animal numbers climbing globally, feeding should remain strong into the new marketing year, and analysts doubt that a minor slowdown in the global economy will do much to derail demand for animal products. "Maybe a few less T-bones will be served," says Scoville. "But USDA is implying good feed demand."

Perhaps, just like in 2008, the biggest wildcard today is Europe. "If Europe’s problems continue to spread, there is the possibility of slower economic growth globally and possibly even another global recession," Hart says. "But for now, global demand is climbing."

Finals....

Well guys it's finals week at the wonderful institution called Illinois State University. I know I should be studying just like the other normal students, but all I can think about is what am I going to do this summer and after school is actually over for me? I only have a year left of college and I will have my degree in agriculture that I have worked so hard for. But anyways, I should be studying but the only thing that keeps crossing my mind is what do I really want to do once I graduate. I know I want to work at an agriculture related business but the key term is where? I keep leaning towards ag retail and being a sales representative.
                                                              
Doesn't that sound fun? This is what I have worked the last three years for and still have a year left to work at. Honestly though, it is definitly worth everything I have put into this education. If I accomplish anything with this post, I hope I can put a spark into someone to look into going to college and enhancing their knowledge. Knowledge is power and even if you are going to just be on the farm managing it for the rest of your life, there are classes to help you make good decisions and keep your farm in good terms.
                                                       

farming's easy??? really??