Mississippi planted soybeans looking good; some flood delays
STARKVILLE, Miss. (AP) — Most of Mississippi’s soybean crop is looking good, and so are prices — but some areas are still replanting acres that were flooded in June, Mississippi State University Extension Service experts say.
Soybean specialist Trent Irby said 82% of the crop appears in good or excellent shape. Most of the state’s soybean crop was planted at normal times ranging from as early as late March through June after wheat harvest, he said.
But, he said, soybeans were still being planted in mid-July, and even late that month, leaving total acreage a big question.
“Several areas around the state received big rain events during June that resulted in substantial flooding,” Irby said. “There were also areas impacted days later as rivers and creeks got out and flooded fields.”
Agricultural economist Will Maples says prices are good, largely driven by a strong export market.
“New crop November soybean futures averaged $13.72 per bushel for the week ending July 23, which is 35% higher than this time last year,” Maples said. “In early June, the November contract reached as high as $14.6 per bushel.”
Maples said international demand for U.S. soybeans is expected to remain strong.
“At this time of year, the soybean market is trading on the weather. Any weather disruptions on yield could have a price effect,” he said.