On this episode of The Turkey Talk Show, we hear from the Iowa Corn Promotion Board and Iowa Soybean Association about projections for the upcoming harvest. Both corn and soybeans are on track for record yields, but with that come challenges, from disease pressures to uncertain impacts that won’t be fully known until harvest. We also discuss the international markets, trade, and potential impacts it can have in next year's crop season.
On this episode, we hear from Brent Swart, president of the Iowa Soybean Association; Grant Kimberley, Iowa Soybean Association Senior Director of Market Development; and Ralph Lents, Chair of the Iowa Corn Promotion Board.
For soybeans, USDA projects a record yield this harvest. Heavy rainfall has fueled strong growth, though some late-season diseases have appeared. Livestock producers remain the top consumers, with poultry leading in soybean meal use. Despite acreage dropping 5% in Iowa and 8% nationally, strong yields should offset losses, keeping supplies high and prices lower.
For corn, production is forecast at 16.7 billion bushels—up 1.4 billion from last year. While ethanol demand and exports may help, marketing such a large crop will be difficult. Production costs are down 3%, but prices have fallen nearly 50%, leaving a tough financial outlook. Storage adds another challenge, with many farmers likely forced to sell at harvest.
In western Iowa, crop yields vary widely due to disease, wind, and weather. Southern rust has been an issue, though not toxic, while the eastern Corn Belt faces mycotoxin risks that affect livestock feed.
Looking ahead, tariffs, trade pressures, and higher fertilizer costs are concerns. Farmers with strong soils may consider skipping fertilizer next season.
On the market side, U.S. corn is moving into India, and soybeans are expanding exports to balance growing domestic biofuel use.
Meanwhile, U.S. farmland acres have declined since the 1990s due to urbanization and conservation, though technology has lifted yields. Brazil, however, continues to expand acres rapidly and gain market share, raising concerns about deforestation tied to its growth.
Iowa's poultry industry is very important to Iowa's crop farmers. Iowa's turkeys consumer over 60,000 acres of soybeans, or 3.6 million bushels a year. And, soybean meal prices will continue to be low, as we are constantly increasing soybean production. Turkeys are also the second largest consumer of corn in Iowa. Turkey production also contributes to manure application and gives us more local fertilzer options, instead of buying more commerical fertilizer.
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