USDA calls for another record smashing crop this year in beans and increases the corn crop too.
Thanks in a big way to the increasing CO2 adding 26% to plant growth, just from photosynthesis in addition to the best conditions for growing crops (and most life on this planet the last 3 decades) since humans have recorded weather.
All trade estimates for USDA's reports due Monday at 11 am CDT. Market will focus most heavily on US corn and soybean production, where record yields are expected. US wheat production is seen a little higher than last month.
U.S. #corn yield above expectations, #soybeans too. Big records for both.
U.S. #corn production comes in slightly above expectations despite the big yield as harvested area was cut more than expected. Harvested area for #soybeans increased notably from June, combining for a massive crop.
U.S. #wheat production fell from the previous estimate due to smaller output for spring and durum, offsetting an increase in winter wheat.
USDA cut #Argentina's old crop production: #corn by 2 mmt and #soybeans by 0.5 mmt, but new-crop and all #Brazil estimates were unch from July.
World #corn & #wheat ending stock estimates for 2024/25 were trimmed from July, but #soybeans come in much higher due to a huge U.S. crop and a +3.5 mmt in old-crop #China imports (but no increase in use). New-crop China soy demand also unch. World is stuffed with beans.
USDA pegs U.S. #corn yield at 183.1 bu/acre, well above last year's record of 177.3. Iowa is seen besting its record by 5 bpa and Illinois by 11 bpa. Nebraska is set to tie its record but Minnesota is seen 10 bpa below its max.
Quick-ish report reaction: big US yields expected, bigger ones received. BIG. These aren't casual yields, it takes a lot (maybe more than we're acknowledging?) to get there. Interested to see field obs next month. World has a LOT of beans. Incoming 169 from Brazil is.. too much.
I am definitely not saying 183/53 is impossible. But having crunched a lot of numbers, I think it's important to recognize how special of a crop that is, and what it takes to get there. If realized, was 2024 normal weather? Or exceptional weather? Prob the latter.
Changes to planted/harvested area also played a role in U.S. production estimates this month. The updated plantings (in million acres) are as follows: #Corn 90.75 (was 91.5 in June)#Soybeans 87.1 (was 86.1 in June)
When I was in High School, I was in future farmers of america, one of the farms we worked on planted some hybrib corn and soybeans from Pioneer. We smashed it that year, corn was 100 bushel per acre, soybeans 35 bushel per acre
Thanks, Mike
Yields have doubled in the last 40 years!
The added CO2 is responsible for 26% of the increase in soybeans.
https://www.nass.usda.gov/Charts_and_Maps/Field_Crops/soyyld.php
A brief history of U.S. #corn yield growth since the 1860s Notable growth in yields was seen after the adoption of modern fertilizers in the 1940s, which made drought years esp. in the 1980s stand out more than before (compare with 1930s Dust Bowl for example).
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For the past 35 years, we just keep getting the same forecasts from the IPCC.!
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By metmike - March 20, 2023, 11:36 p.m.
With today's latest IPCC report, we can now update the IPCC's predictions. See the last year below.
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This was what they stated 35 years ago:
United Nations Predicts Disaster if Global Warming Not Checked
Associated Press – Jun 29, 1989
"A senior UN environmental official says entire nations could be wiped off the face of the Earth by rising sea levels if the global warming trend is not reversed by the year 2000"
"Coastal flooding and crop failures would create an exodus of ''eco- refugees,’ ' threatening political chaos, said Noel Brown, director of the New York office of the U.N. Environment Program, or UNEP."
FULL TEXT:
https://www.apnews.com/bd45c372caf118ec99964ea547880cd0
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Same busted forecast from them, year after year after year:
United Nations/IPCC- 1989-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1990-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 1991-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1992-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1993-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1994-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1995-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1996-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1997-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1998-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-1999-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2000-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2001-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-2002-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-2003-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2004-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2005-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2006-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2007-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2008-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2009-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2010-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2011-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2012-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2013-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2014-The world is doomed without a climate deal with widespread, global crop failures.
United Nations /IPCC-2015-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2016-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2017-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2018-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC- 2019-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-2020-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-2021-The world is doomed without a climate deal with widespread, global crop failures.
United Nations/IPCC-2022-The world is doomed without a climate deal with widespread, global crop failures.
NEW: United Nations/IPCC-2023/24-The world is doomed without a climate deal.
Planet Earth 2023/24- A Scientific Climate Optimum for most life-Booming Biosphere-Global Greening-Polar Bears +25%
Deaths from Extreme Weather Down 95%
Record smashing crop yields........again!
Not in spite of climate change but BECAUSE OF IT!
No Climate Crisis, just a climate optimum!
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Death by Greening:
https://www.marketforum.com/forum/topic/69258/
Energy transition is a hoax
45 responses |
https://www.marketforum.com/forum/topic/94557/
Big Oil SAVES Lives!
Started by metmike - April 11, 2024, 3:15 p.m. https://www.marketforum.com/forum/topic/103098/
USDA's 2024/25 ending stock forecast for U.S. #soybeans jumped by 125 million bushels this month, among the biggest ever monthly increases. The new estimate of 560 mbu would be a 6yr high and the 3rd highest ever.
