USDA Report - June 30

Jun 30, 2023

Taylor Bensenberg is a Grain Originator at River Valley Cooperative and gives insight into the USDA report. The USDA released its report on June 30th. The report shows the stocks and acres with no update to the balance sheets, no world numbers, and no yield changes.

The June 1st stocks show that corn is within the trade estimate at 4.106 billion bushels. Then beans are below the trade estimate at 796 million bushels. With the June 1st acre report the USDA states a similar story with corn acres within the trade estimate at 94.096 million acres and beans well below the trade estimate at 83.505 million acres.
This shows a very bullish bean market with a bearish corn market. Corn has dropped around 30-35 cents while beans rose 70-75 cents. In the future, we will see some changes in the supply and demand market of these grains come the July report.

The grain market has been very volatile over the past few weeks. Right now, we are seeing a textbook weather market meaning the market is heavily dependent on what the weather conditions are. The markets tend to overreact to the June weather, and they tend to mellow out a bit in July.

For the July 4th weekend we will see the markets open normal hours on Monday closing at 1:30 p.m. and reopening on Wednesday at 8:30 a.m. July 5th.

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Aug 23, 2023
Recently, account managers in our trade territory took to the fields, taking a glimpse at what we might have in our bins this fall. I think everyone knows this growing season has been different than others.

If we look back at planting, we often saw optimal planting conditions and good soil moisture/emergence early on. Most fields planted before May 8th had an excellent activating rainfall for preemergence herbicides around an inch. After those conditions seemed to grow increasingly dry, and other than a few spotty showers here and there, fields really took a toll in the months of June and early July.
Jul 21, 2023
It is time to start thinking about applying fungicides to beans. As beans have reached the R3 stage, it is advisable for growers to use fungicides and micronutrients to safeguard the flower buds and prevent the plant from aborting new pods. Today, Aaron Trenkamp, Agronomy Account Manager at River Valley Cooperative, visited the field to discuss the upcoming activities for the week.
Jul 14, 2023
The time has come to start applying fungicides to the crops. With the recent presence of moisture, crops are at an increased risk to be infected by a variety of fungi. Fields are now pushing a tassel and are actively pollinating which is the perfect time to apply fungicides and mid-season micronutrient fertilizers.