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Market Commentary

Afternoon Comments 05/22


Although active farmer selling has reportedly eased the old crop soybean situation somewhat lately, soy futures proved quite firm again Wednesday. That probably reflected strength spilling over from the corn market, as well as reported firmness in the Asian palm oil markets Tuesday night. Traders of nearby meal futures may be expecting recent farmer sales to accelerate the crush, thereby limiting soymeal gains. July soybean futures surged 16.0 cents to $14.9425/bushel Wednesday afternoon, while July soyoil gained 0.16 cents to 49.64 cents/pound, but July soybean meal rose $1.9 to $440.6/ton.
Market Info

Soybean seed inoculation for most per acre return

Michigan State University  |   February 18, 2013
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Michigan State University Extension educators in Michigan’s greater Thumb area had the opportunity to plant soybeans on ground that had never been planted to soybeans before. The educators took this chance to establish a trial measuring the effects of inoculant and nitrogen treatments on soybeans planted to “virgin” ground.

click image to zoom Pioneer 92Y51 soybeans were planted in 30-inch rows on an Avoca Loamy Sand. The plot was located in Huron County’s Meade Township, near Filion, Mich. Treatments included sidedressed nitrogen as 28 percent UAN at 80 pounds per acre; HiStick inoculant, a combination of sidedressed 28 percent UAN at 80 pounds plus the inoculant; and an untreated check (UTC). The inoculant was applied at planting and the sidedressed nitrogen was applied three weeks later. See Table 1 for study results.

The site received very little rain throughout the growing season on a drought-prone soil. Yields reflect the lack of rain. All three nitrogen and inoculant treatment yields were significantly higher than the UTC. The most cost effective treatment was HiStick inoculant alone.

The educators would like to thank plot cooperator Shupe Dairy Inc. and the Michigan Soybean Promotion Committee for providing funding toward this study.


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