The most recent Iowa Crop Progress and Condition Report indicated the soybean harvest is one of the slowest on record. Wet weather has created concerns with the crop conditions, and Ron DeJongh, the Chief Commodity Marketing Officer with Landus Cooperative in Ames, says they are monitoring the supply on a daily basis. They started seeing potential damages through social media outlets.
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As farmers delivered beans this week, they saw the condition improving. Their biggest fear, however is storing of wet soybeans. DeJongh says they can’t go out of condition in storage. Landus does have some recommendations.
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He says the market is also indicating the time to sell corn is now, with about a one percent drop in moisture each day. There is more export demand for corn right now and the basis is a little firmer. But for beans, farmers should consider storage, for the time being.
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Some precautions do need to be taken when storing wet beans.
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DeJongh says most all of the soybeans in the area will be coming to be processed into a dairy feed ingredient, Soy Plus, that is processed at the Ralston plant. They will accept up to a maximum of five percent damage and 14 percent moisture. To date, no loads delivered to any of the cooperative locations have been rejected, but again, they are focused on the moisture component and the ability to blend it out over time. Producers should bring a sample in to their local cooperative and get some quality and market feedback. Landus Cooperative is also doing everything they can to be sure they are there when farmers are ready to deliver and market their grain. DeJongh recommends checking with your local Landus Cooperative for their harvest hours.