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Levels of concern could be elevated if the precipitation forecast doesn’t change.
The new facility will produce 950,000 short tons of ammonia annually, and it’s been a project discussed for over a decade.
The onset of drought and disease are causing growing concerns about the size of the U.S. corn and soybean crops this year. Analysts caution while the crops may be going backward in terms of yield, it’s possible USDA actually raises its yield estimates in the September report.
The Midwest crop is being pushed into black layer (R6) prematurely in some areas in ways that are easy to confuse with normal drydown factors.
With $8 cash soybean bids in the Dakotas and Minnesota, and no bids for fall in a few markets, farmers might need to break the norm and store soybeans.
Michael Marsh, president of the National Council of Agricultural Employers, explains what this ruling means for fresh produce industry businesses.