WHEAT FUTURES DECLINE OVERNIGHT; TRUMP VISITS IOWA TO TALK TRADE, ETHANOL

1. Wheat Lower Overnight as Investors Who Were Long Book Profits
Wheat futures were lower in overnight trading as those who were long the market, or bet on higher prices, sold contracts and booked profits after prices hit two-year highs. Corn and soybeans were little changed.

The price had been rising for the past several days as dry weather threatens U.S. spring wheat. The crop was rated 41% good or excellent as of Sunday, down from 45% a week earlier and 76% a year ago.

Adverse weather also is expected to curb overseas production of the grain, leaving many to wonder how much of the grain will actually be produced this year.

Still, global inventories at the end of the 2017-2018 marketing year are expected to be at record highs, according to the U.S. Department of Agriculture. That will, at the very least, temper enthusiasm from bulls until more is known about global production.  

Wheat futures for July delivery fell 5¼¢ to $4.67¼ a bushel overnight on the Chicago Board of Trade. Kansas City wheat lost 4¾¢ to $4.69½ a bushel.
Corn futures added ¾¢ to $3.70¾ a bushel in Chicago.

Soybean futures for July delivery rose ¼¢ to $9.28 a bushel. Soy meal was unchanged at $300.90 a short ton, and soy oil fell 0.01¢ to 32.01¢ a pound.

2. President Trump Expected to Visit Cedar Rapids Wednesday to Talk Trade, Ethanol
President Donald Trump is expected to visit Iowa today along with Agriculture Secretary Sonny Perdue and Commerce Secretary Wilbur Ross.

With those two in tow, it’s likely the topic will be on trade, and judging by the venue, Kirkwood Community College in Cedar Rapids, it’s likely it will have something to do, in part at least, with agriculture.

There’s a lot to talk about. Trade is always a hot topic, as is ethanol. Senator Charles Grassley of Iowa said on a conference call that he doesn’t believe Trump will announce ethanol-blend obligations during his visit today, but he said it’s possible they’ll be announced sometime this week.
The plan is to talk to those in the agricultural program at KCC then hold an evening rally at the convention center in Cedar Rapids.

Trump has long expressed his support for the ethanol industry. In February, he sent a letter to attendees of the National Ethanol Conference saying he valued “the importance of renewable fuels to America’s economy and our energy independence.”

He said at the time he’d work with the Renewable Fuels Association to boost the industry and reduce regulations that have harmed ethanol producers.

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3. Tropical Storm Cindy to Hit Gulf, Extremely Hot Weather Expected in Nebraska
The weather maps are all shades of color along the Gulf Coast as Tropical Storm Cindy makes its way to land.

A tropical storm warning is in effect for much of east Texas, Louisiana, and parts of Alabama and Mississippi, according to the National Weather Service. Further inland, flash flood warnings and tornado watches have been issued.

In the Midwest, hot weather is again creeping into parts of Nebraska. While the heat won’t be as intense as the 120˚F. temperatures in the southwestern U.S., parts of Nebraska may see heat indexes in the triple digits this afternoon, the NWS said, which could stress newly planted corn and soybeans.
The good news is, scattered thunderstorms are expected in parts of Iowa, Wisconsin, and northern Illinois starting today and stretching into tomorrow evening, the agency said. BY TONY DREIBUS.

4 STEPS TO MINIMIZE DRIFT POTENTIAL WHILE SPRAYING.

Herbicide-resistant weeds in corn and soybeans threaten your bottom line. Fortunately, help is on the way. Soybeans that tolerate new formulations of dicamba are on the market, and soybeans that tolerate 2,4-D and HPPD inhibitors are in the works. However, these new products and increased use of older ones raise herbicide-contamination concerns. Off-target management by drift and volatilization is also a potential threat. If you grow row crops in areas where specialty crops (such as grapes and tomatoes) are grown, you need to be even more vigilant.

Here are four steps you can take to minimize drift potential and to avoid product contamination.

1. Monitor Wind Speed

“Keep in mind, when you’re making those applications, wind speed has a huge role in off-target movement,” says Greg Kruger, cropping system specialist at University of Nebraska-Lincoln. As wind speed doubles, off-target movement at 90 feet downwind increases 700%, says Kruger.
“There is no substitute for common sense. If the wind is blowing, droplets will move,” says Kruger.

2. Manage Boom Height

Doubling the boom height from 18 inches to 36 inches can boost off-target movement 90 feet downwind by 350%, says Kruger. “The higher the boom, the longer it takes for the droplets to reach the ground,” he says.

Kruger says you should monitor speed. As it increases, so does the boom height, generally. “As you go faster, boom height goes up, but so does drift potential,” he says.

3. Maintain Distance From Susceptible Vegetation

If downwind distance is doubled from 100 to 200 feet, just 20% as much drift exists at 200 feet as at 100 feet, Kruger says.

4. Control Droplet Size

You can’t control wind direction, neighbors, or wind speed, but you can control droplet size. “One of the easiest things you can do is to control the pressure,” Kruger says. By dropping the pressure to create larger droplets, you will significantly reduce drift potential.

It’s a Balancing Act

New nozzle designs are specifically built and engineered to reduce drift, says Bob Wolf, co-owner of Wolf Consulting and Research in Mahomet, Illinois. Reducing drift is a necessary part of an effective application, but there are trade-offs.

“When selecting a nozzle, consider both drift potential and the ability of the nozzle to provide proper coverage to control weeds or targeted pests,” says Wolf.

Selecting the right nozzle to provide proper coverage for optimal pest control while simultaneously minimizing spray drift with larger drops is a balancing act.
That’s your challenge: to find the proper droplet size.

“Nozzle selection has the greatest influence on particle size. The nozzle type you select is going to be the biggest way you can change the droplet size and drift potential,” says Kruger.

Nozzles that worked well with older chemistries won’t necessarily provide the same coverage with new chemistries.

“Most labels are going to have some sort of indication in terms of spray nozzles,” Kruger says. BY KACEY BIRCHMIER.