Purdue Ag News Roundup
Purdue Ag News Roundup
"Soybeans reached their high early in May," Hurt said. "At that time the $9 prices were at a level that we had seen in other short-crop years -- achieving levels that reduced usage.
"We also had seen in late March that producers intended to substantially increase their soybean acreage, which suggested that May's prices were extremely favorable."
Hurt identifies three factors that have occurred since the beginning of May to confirm his anticipation of lower soybean prices:
Hurt said he does not anticipate any significant rise in soybean prices any time soon. In fact, he expects a steady decline.
"We're in a period now where the market is focusing on new-crop beans," Hurt said. "The price of old-crop soybeans will erode to new-crop levels by the end of summer, falling to around $5.50 to $5.75 per bushel.
"So we'd still recommend that producers move aggressively to sell old-crop beans as
soon as possible. While they missed the high, current prices are still above last
fall's harvest."
CONTACT: Hurt, (765) 494-4273; e-mail: Chris_Hurt@acn.purdue.edu
Visitors can attend five tours that will take them out to the fields to learn "Forest Management Assistance Programs," "The Future of Bt Corn," "Purdue's Liming Recommendation," "Corn and Soybean Herbicide Plots," and "Identifying Common Field Crop Diseases." The sessions start at 9 a.m., 9:30 a.m. and 10 a.m. A lecture entitled "Precision Farming: How Does My Farm Fit In?," will also be offered.
According to Don Biehle, superintendent of the center, the Bt corn tour is new to the field day. "A lot of the things we'll be showing people are new research. This is a fairly new technology; it refers to insect-resistant corn," he said.
Biehle said the tours offer plenty of hands-on experience. "We'll be loading everyone on wagons to take them out to the fields and research plots," he said. "The field crop disease tour is a diagnostic stop; we'll be learning to identify diseases we can find in the fields. The herbicide tour will show the different combinations of herbicides people can use."
There are no registration costs for the event, but those attending are asked to RSVP
for lunch with their county office of the Purdue University Cooperative Extension
Service. The Southeast Purdue Ag Center is in Butlerville, five miles east of North
Vernon on U.S. 50.
CONTACT: Biehle, (812) 458-6977
Compiled by Chris Sigurdson, (765) 494-8415; E-mail, sig@ecn.purdue.edu
Purdue News Service: (765) 494-2096; e-mail, purduenews@purdue.edu
