09-26-2011 01:37 PM
It's possible, says University of Illinois economist Darrel Good:
"The 15% decline in soybean prices in less than four weeks raises the question of whether the price decline has been overdone. The price decline appears particularly large when compared to declines of 8% to 10% in livestock and livestock product prices from spring/summer highs," says University of Illinois Extension ag economist Darrel Good. "One might expect that demand concerns would result in larger price declines in the livestock sector than in the crop sector. It may have been that crop prices were pushed too high in August on the basis of crop concerns."
So, think beans are too cheap these days? Here's more from Good.
09-26-2011 07:31 PM
Early harvest reports here in NC IOWA have been excellent. 60-70 BPA. It appears applying fungicide has really paid off 7-10 BPA difference.
Same here in ECIL. Not 70's but much better than we thought given the weather. No rain in July and August coupled with intense heat. Result? 50's and 60's on the beans and 175-185 on corn. Fungicide, extra N, etc paying off big time.
People around here are just astonished by our yields. Can't believe it myself. Happy camper here!
09-27-2011 05:54 AM
Maybe not too low. Harvest is starting and so is the new supply of soys, south america is planting, and many endusers might run on short supplies just to see how SA develops. If SA comes along well our short crop could still be overpriced. Kinda like rolling the dice with mother nature. As stated above, ncia could have a nice crop if these frosted beans ever finish.
09-27-2011 06:29 AM
John, maybe this will be the new wave on beans in the future. Like spraying banvel on beans seemed to inspire extra yield, now frost and fungicide..turn a 1.7 into a 2.0 and gain yield...MikeM