Ag Chat with Bob Bosold -June 12
If the weather continues to cooperate, there’s gonna be a lot of corn and soybeans in the bin this fall. Yesterday’s USDA Crop Production and World Supply and Demand Report is calling for a corn crop just shy of 16 billion bushels on yields of 178 and a half bushels per acre. That would move ending stocks for the 2020-2021 marketing year up to over 3.3 billion bushels. Farmers planted corn on 97 million acres this spring. The corn price is expected to average $3.20a bushel this year. The report expects soybeans to yield just over 4.1 billion bushels on yields of 49.8 bushels per acre. With increased demand for crushing, soybean ending stocks were reduced slightly to 395 million bushels. Farmers planted 83 and a half million soybean acres this year. Soybeans are now pegged at $8.20 a bushel—down 30 cents from earlier estimates.
That report covers just about all phases of farm production—including dairy. The report is calling for higher milk production this year because of an increase in cow numbers. It also expects higher prices for cheese, butter and non-fat dry milk because of the increase in demand. Pricewise, the report calls for the 2020 all milk price to come in at $16.65 with the 2021 price to be $16.20 a hundred.
Wisconsin farmers can start signing up this coming Monday, June 15th, for that $50 million in direct aid coming from the state. The program is being handled by the Department of revenue and the sign-up link will go live on Monday morning. For farmers who can’t apply on line, they can call the department at 608-266-2772. Payments will range from $1,000 to $3,500 and will be sent out once the application period ends on June 29th.
This spring’s maple syrup season was about 2 weeks longer than normal, but in spite of that, total production was down. We ended up with 265,000 gallons of syrup, down about 5,000 gallons from last year as there were 20,000 fewer taps this year than a year ago, even though the yield per tap was a little better this year. When it comes to maple syrup, Vermont is kind of like Iowa when it comes to egg production—nobody’s even close. Vermont produced over 2.2 million gallons this past spring while the next closest state was New York with 804,000 gallons.