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From large corporations to small, independent businesses, it is hard to find a modern business that does not have a pledge to become more environmentally sustainable. Businesses concentrating on sustainability are typically lavished with praise while those perceived to not be doing their part may be met with harsh criticism.
Feed ingredients are the No. 1 cost component of the protein business, followed by labor and energy. Oil prices are historically linked to feed-ingredient crops.
No two years in farming are alike or free of drama; however, this may be one of the craziest years we've seen in a long time because of all the variables in play.
The 2018 growing season was delayed by 10 to 14 days by an extended winter and wet planting season. But a warm May and lots of moisture combined with near-perfect June weather leading up to July 4 in most growing regions may increase growth and yield.
While U.S. markets last year benefited from a drought in Brazil that affected the country’s corn and soybean production, this year’s projections are for record crops that will affect 2018 markets. Current projections call for a continued excess supply of both corn and soybeans.
Last year saw an almost-record crop and 2014 is on schedule to be even better. U.S. farmers become more efficient every year at increasing yield per acre.