Soybeans off to good start despite weather, delayed planting
ACROSS MISSISSIPPI — Delayed planting and high summer heat have not kept Mississippi’s soybean crop from looking good as of mid-July, though fields ranged from just planted to nearly ready to harvest.
Trey Koger, soybean specialist with the Mississippi State University Extension Service, said the crop was planted a little later than usual statewide, but many acres in northeast Mississippi were not planted until almost July.
“Big rains caused some stand losses, and those fields had to be replanted,” Koger said. “Our crop is in a wide array of growth stages, but I think it is a pretty good crop.”
The summer’s high heat and limited rain caused an excessive number of flowers and fruit to shed, but Koger said most fields have recovered from these losses.
Parts of the state are getting dry, and continued lack of rain in the northern and central part of the state will soon cause problems for soybeans. Koger said about two-thirds of the state’s soybeans are irrigated. Almost all of the irrigated acres are in the Delta, which has not been overly dry this summer.
“The crop endured a lot of stress in June and early July from excessive heat and little rainfall, but it looks pretty good considering that,” Koger said. “We’re going to have to have some rainfall from here on out for some of the late-planted crop.”
John Michael Riley, Extension agricultural economist, said soybean’s September futures contract was $9.87 per bushel in mid-July. Greenville reported a cash price of $9.66. Soybean futures prices have risen almost 8 percent since July 1.
“The market is coping with news on opposite ends of the spectrum and apparently is latching on to the good news, likely due to the fact that corn prices have been improving,” Riley said. “A recent report that China is back in the market for soybeans should bode well for what is expected to be the largest crop on record.”
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- Brandon man hauls in record 756-pound alligator
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Woman found guilty of murder in buttocks injection case
- Is cotton looking too good? Farmers facing weaker prices
- MBJ Special report: MDA numbers help with cities’ retail pitches
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- COO of TL Wallace Construction keeps eye on revenue growth and profits