Floods Impact Marketing of Soybeans

by Don Molino

According to Louisiana Farm Bureau Grain Marketing specialist Greg Fox the biggest impact from the flooding last month of the soybean crop was the fact a lot of that crop went under water.

"A lot of the facilities were running short handed and cut their hours back simply because their employees' houses were flooded and they just didn't have the workers that could come to work and handle the trucks that were coming out (of the fields)," said Fox.

The high waters slowed harvest down at least a little bit in a lot of areas, so Fox says the actual volume of soybeans being processed wasn't as heavy as usual for this time of year.

"We've seen anywhere from one percent damage all the way to 30% damage in some cases," Fox says, "just depending on what areas were impacted on the severity of the damage and what stage the beans were in. Some beans needed to be cut a week before it flooded or even the week it flooded, and producers couldn't get to their crop until about two weeks later."

Fox says farmers are looking at "40 cents to a $1.00 discount depending on where you fall in that damage range. If the moisture was higher that impacted farmers as well (and) that cuts income on that particular load. Hopefully the later harvested beans won't be as bad."

(This report is a service of the Louisiana Soybean and Grain Research and Promotion Board)