WASDE Report Shows Mixed Results for Corn and Soybeans

By Kent Thiesse Farm management analyst kent.thiesse@minnstarbank.com

The March 8 USDA World

Agricultural Supply and Demand

Estimates (WASDE) report did not have many significant changes from the February WASDE report. The biggest change was a larger than anticipated reduction in expected 2022-23 corn export levels, along with a corresponding increase in estimated corn ending stocks at the end of the current marketing year.

On the flip side, the USDA projected a slight reduction in 202223 soybean ending stocks due to an anticipated increase in soybean export levels. All eyes will now be on the USDA 2023 Prospective Planting and Grain Stocks reports that will be released on March 31.

Corn The latest WASDE report continued to show the total 2022 U.S. corn production at 13.7 billion bushels, which compares to production levels of just under 15.1 billion bushels in 2021 and 14.1 billion bushels in 2020. The recent USDA report also showed that the total demand for corn usage in 2022-23 at just over 13.8 billion bushels, which is down considerably from total corn usage levels of 14.9 billion bushels in 2021-22 and 14.8 billion bushels in 2020-21. Corn export levels were reduced by 75 million bushels in the March report due to sluggish export sales thus far in the 2022-23 marketing year. Corn export sales for the year are now estimated at 1.85 billion bushels, compared to 2.47 billion bushels in 2021-22 and 2.75 billion bushels in 2020-21. The USDA estimated the total corn used for ethanol production in 2022-23 at 5.25 billion bushels and the total corn used for livestock feed at 5.69 billion bushels, both of which are down slightly from levels in the 2021-22 marketing year. The USDA is now estimating 2021-22 U.S. corn ending stocks at 1.342 billion bushels, which is an increase of 75 million bushels from the February WASDE report, representing the projected decrease in corn export levels. The 2022-23 corn ending stocks would still be at the second lowest level in the past nine years and would compare to a carry-out level of 1.377 bushels in 2021-22 The 2022-23 stocks-to-use ratio is estimated at 9.7%, which is almost identical to the 9.8% projection a year ago in March. The current stocks-to-use ratio remains quite tight compared to recent corn stocks-to-use ratios of 13.7% for 2019-20, 14.6% for 2018-19 and 14.5% in 2017-18. This means that there continues to be potential for short-term rallies in the cash corn market in the coming months, especially in areas of the U.S. with tight supplies and high local corn demand.

The USDA is currently estimating the U.S. average on-farm cash

Miss Claudia Swenson of Minneapolis visited here over Sunday.

John Johnson of Parshall, N. D., was a visitor with his bro-in-law C. H. Nelson over Sunday.

75 Years Ago – Feb. 16, 1945

W. H. Krohn and family visited at the home of Mr. and Mrs. Gilbert Swartz in St. Paul, Sunday. Mrs. Justine Jacobson entertained a group of ladies at her home Saturday afternoon in observance of her birthday anniversary.

Mr. and Mrs. Arthur Nelson of Winthrop, Mrs. Theo. Ostrom and Grace, of New Sweden, visited Sunday afternoon at the Arthur Flygare home in Bernadotte.

Mr. and Mrs. Delphin Anderson and children, Duane and Gladys, were entertained at dinner Sunday at the Gerald Wise home in New Sweden. The afternoon was spent at the Orville Quist home near St. Peter.

Miss Elaine Isenberg, daughter of Mr. and Mrs. Delphin Isenberg of Cornish, has completed a course in beauty culture, and also passed the state board examinations, thereby receiving the license for such work.

Raymond Quandt, Hugo Albrecht and Arthur Schaeffler, members of the board of Lafayette township, went to St. Peter, Monday, and attended the annual weed conference, which was held in the court room of the court house.

Mrs. Martha Carlson and Mrs. LeRoy Anderson spent last weekend in the twin cities.

Carl Youngblom of St. Paul and his roommate, Tom Kostuch, returned to St. Paul Monday evening, after a few days visit with the former’s parents, Mr. and Mrs. Clarence Youngblom.

Misses Betty and Bonnie Milliman, students of the Hamline University, Minneapolis, spent

Except for telephonic communication, this village was cut off by the drifting snow and extreme cold weather.

100 Years Ago – Feb. 14, 1920 the Chester Nelson home Saturday evening.

Mrs. Henry Netzke visited her daughter at New Ulm the first of the week who has been ill. George and William Lange of Oshawa township have gone to Sioux City, Iowa, to attend an automobile school.

Show your loyalty to the fire company by purchasing tickets for their annual ball to be given in the Nicollet opera house tonight.

The ladies of the Progressive Banner will give an apron sale for the benefit of the auxiliary in the local auxiliary parlors Saturday afternoon, Feb. 21.

Henry Epper and family are getting comfortably settled in their new, large and modern residence on West Fourth Street, having moved in during the week.

Three auctions are booked for this vicinity in the near future. The sale of Louis Wenholz will occur on February 20. August Schroeder will conduct a sale on February 27th, and H. C. Fricke will close out his personal property on March 4th.

Mr. and Mrs. Chas. Johnson of Langdon, N. D., the latter a sister of J. H. Meurer, arrived here last Friday for an extended visit with relatives in Nicollet and vicinity. Mr. Johnson was an old time resident of Nicollet and in his early days drove a stage between New Ulm and St. Peter.

Lafayette Nicollet Ledger

25 Years Ago – Feb. 16, 1995

Congratulations to Peter Anthony, son of Willis and Rachel Anthony, for being named to the Dean’s List at Bethany College. Also to Michael Gunderson, son of Darwin and Brenda Gunderson, who also made the Dean’s List at the University of Minnesota, Morris.

Sharon Gaalswyk, Karen Gaalswyk, Cheryl Epper and Joyce, manager of the Budgetel Motel went to dinner at Charley’s and saw the play at the University in Mankato, “Stepping Out.”

Kevin and Jeanette Hewitt of Cleveland entertained Sunday afternoon in honor of their daughter, Heather’s 4th birthday. Among those present were Earl and Evie Nelson of Norseland, Bob and Donna Hewitt of St. Peter, Darren and Corrinne Ely, and Angie Seitzer of Cleveland.

Darryl and Barbara Stevensen and Mr. and Mrs. Wade Zieske of rural New Ulm flew to Florida last week to spend time with Barbara’s parents, Herb and Jolene.

Good winter weather has allowed all aspects of construction for the new InLaws Restaurant at Nicollet to proceed. The business, located at the corner of Highways 14 and 111 in Nicollet, is slated to open in early spring.

Mr. and Mrs. Kenneth Eckberg visited at the Carl Lund home in St. Peter Friday evening.

Nicollet Leader

115 Years Ago – Feb. 18, 1905

The personal property taxes are due March 1st, and unless paid by that time a penalty of 10 percent will be added.

The fifth of its series of club dances was given by the Nicollet Dancing Club at Blank’s hall Tuesday evening. The Nicollet orchestra furnished the music.

Do not forget the special school meeting to be held on Saturday evening, February 25th. It is important that all interested in school matters should attend this meeting. The school rooms at present are so overcrowded that early provision needs to be made for an extra room and teacher for same.

The farmers of Brighton township will build a co-operative creamery near the place of Adam Jutz, on the southwest corner of section 3, and are busy hauling material for the same now. They will commence with the erection soon as the weather permits and will hold a meeting on Saturday, March 4th, for the purpose of organizing.

A Judson correspondent says a party from Nicollet, who has been cutting ice, had the misfortune of journeying to the river bottom, rather a disagreeable experience, though the distance traveled was only twelve feet. He then drove home six miles, in his wet clothes, which were certainly stiff upon him by the time he arrived. Do you know him?

The blizzard we had Tuesday worked havoc with the train service. No trains went either way until the following morning when the snowplow cleared the tracks.

Dr. E. F. Vogelpohl, Nicollet’s resident dentist, opened up for business in the former Dr. Meilicke’s office this week. His office is modernly equipped in every respect for his dental practice. Dr. Vogelpohl was called out of town today but will be on deck again Monday morning.

85 Years Ago – Feb. 16, 1935

About 7:30 Monday morning, the fire department was called to the farm home of Henry Ott where a bad chimney fire was raging. There was no damage.

Emil Starke has been busy for the past two weeks cutting logs and sawing lumber for a new barn which he will have erected on his farm this spring.

Mr. and Mrs. Leonard Wyngarden and children, who spent several months with Mr. and Mrs. Carl Netzke returned to their home at Tappen, N.D., Wednesday.

Mr. and Mrs. Elmer Kettner, Mrs. L. W. Kettner, Mrs. E. A. Zimmermann and Mrs. Aug. Thom, Jr. visited relatives at Truman on Monday. The latter two remained for a week’s stay.

Aug. Koetting of Courtland township was seriously injured, Wednesday morning, when a shed, which he was tearing down, suddenly collapsed, pinning him underneath. His right hip and his right leg were broken.

A social evening was spent at the home of Miss Norma and Gordon Ott Wednesday evening. The time was spent in playing “bunco” with high honors going to Miss Viola Bode and Harvey Enter and Miss Elvira Enter and Harold Heidemann, low. At midnight a delicious lunch was served.

Peter Jutz came down Monday from Pierz with a truck load of potatoes which he is selling very cheap.

Mrs. Martin Zins and daughters spent Thursday at Nicollet with her sister, Mrs. R. J. Dauffenbach.

Joyce and Allen Erickson, Henry Maritz, Margie Monson and Mrs. Ella Johnson were entertained at

Herring Trucking of Lafayette put up a new building on the old railroad right-of-way property over the winter. It’s behind the city disposal plant. The 40 X 75 foot building has space for two trucks and will give the Herrings a place to wash their trailers when they return from trips. Final details are being completed and the building should be ready for use in a few weeks.

10 Years Ago – Feb. 18, 2010

Nicollet senior Jordan Rudenick surpassed the 1,000 point career mark in a make-up game with St. Clair Saturday afternoon. Rudenick, a four-year player for the Nicollet High School, has been a consistent scorer for the Raiders and is a good all-around player.

Congratulations to Steve and Barb Hulke of Courtland on becoming grandparents for the first time. Little Hannah Hulke was born to their son and daughter-in-law, Brent and Andria, February 7.

The fourth annual Polar Plunge at Lake Hallett in St. Peter Sunday was even bigger and better than the first three. A total of 313 “human plungers” raised more than $44,000 for Special Olympics. Those numbers are up from 110, 165, and 196 plungers and $21,000, $28,500, and $30,000 in the first three. Nicollet County Sheriff Dave Lange and his group opened the plunge. Nicollet American Legion Post 510 was represented by Del Vulcan and Bruce Connelly. The gals went first and the guys followed when the Courtland Fire Department jumped. Group members were Pam Meyer, Mary Luepke, Jenna Krueger, Danielle Bode, Dave Ubel, Leon Luepke, Jon Rewitzer, Brandon Matter, Adam Marti, and Pat Stadick. Lafayette Ambulance “Team McFreezies” included Kim Schwab, Daryl Trautmiller, Kevin Reinhart, Jay Carlson, Jessi Gieseke, Collin Gieseke, and Marti Uhde. Andrew and Lisa Quist of Norseland were among nearly 90 Minnesota Farm Bureau members who attended the Minnesota Farm Bureau Federation Promotion and Education Conference January 29-30 in Bloomington.