Add over a million acres of spring wheat, and subtract more than two million acres of soybeans… There were a few surprises in the U.S. Department of Agriculture’s Prospective Plantings report published on Thursday. The department pegged soybean acres at 89.0 million acres — more than two million below the average trade estimate of 91.1 million,… Read more »
Tag: USDA
Cover crops and livestock trampling ‘part of the rotation equation’
A ‘good rotation’ is often thought of as a cropping plan that involves diverse species, cultivars, and chemical actives. But that definition may be expanding, thanks to an ever-evolving understanding of soil health. “When you look at that environment, you kind of come down to five principles on soil health,” says United States Department Agriculture… Read more »
Soybeans rally as USDA cuts production by all of 422 bushels
The USDA released its monthly World Agricultural Supply & Demand Estimates (WASDE) report today. Here’s a summary from Matthew Pot, author of Grain Perspectives: Corn: Corn futures increased by 3 cents today after the USDA threw a curve-ball by increasing corn yields well above the market expectations. The average trade estimates were between 169.7 and 169.9… Read more »
Checking in on balance sheets — This week in the grain market
Grain markets continue to shift lower as harvest pressures – namely better-than-expected yields. A stronger Canadian Loonie put pressure on cash prices on the northern side whereas the weaker U.S. dollar has helped offset harvest pressures a bit. For the week, corn lost 0.55% while soybeans gained 0.7%. Canola was just 0.2% lower while oats… Read more »
Sonny Perdue still positive on NAFTA talks for agriculture
U.S. Agriculture Secretary Sonny Perdue visited the Farm Progress Show in Decatur, Illinois on Wednesday, where he scrummed with the media and was pressed on the fact that there are mixed messages coming from the White House on trade. As Canada, the U.S. and Mexico head into round two of NAFTA talks this weekend, President… Read more »
Echoes in the Distance — This week in the grain market
Grain markets sold off this past week as the USDA came out with a surprisingly bearish report of world agricultural supply and demand estimates. Instead of the roughly 166 bushel per acre US corn yield that market was expecting, the USDA came out with 169.5. That’s just a 1.2 bushel drop from the previous estimate… Read more »
Harvest Limitations — This Week in the Grain Markets
Grains pushed through the first full week of September with a mix of bearish and bullish headlines, but mostly of the latter as a weaker U.S. Dollar, wet weather, and decent export numbers being supportive. Corn was the shining star for the week, up 3.5% in Chicago, mainly supported by ethanol being up more than… Read more »
US Corn and Soybeans Forecast to Smash Records (But Futures Traders Aren’t So Sure)
They’re not splashing in the green pool or swinging from the parallel bars in Rio, but like their athletic compatriots, American farmers are breaking records. That’s if you believe the latest numbers from the US Department of Agriculture. The USDA issued its monthly supply/demand report on Friday. Here are some of the upsets/highlights: A 7.1 bushels/acre… Read more »
Volunteer GE Wheat Plants Found in Washington
The US Department of Agriculture confirmed another discovery of rogue genetically engineered wheat plants on Friday. A total of 22 volunteer GE plants were found by a farmer in an unplanted field in Washington State. The department says the plants contain the protein found in MON 71700, the glyphosate-resistant GE wheat developed by Monsanto. The… Read more »
Musical Chairs — This Week in the Grain Markets
Grain markets rode the roller coaster this week as a myriad of factors played into movements across the complex. Currencies, oil prices, weather forecasts, and money flow played a part in helping the market maintain or increase elevated levels. The oilseed market had a strong finish into the close of trading for the week, as oilseeds… Read more »
Tough Inclinations — This Week in the Grain Markets
The grain markets ended the month of March with fanfare on the backs of the U.S.D.A.’s March 31st stocks and acreage report and China switching up some policy. Beijing decided to scrap its minimum support prices for corn, pushing domestic corn prices immediately down to 5-year lows as the domestic price needs to gap down… Read more »
How Much Corn? USDA’s First Acreage Estimate Seen as Very Bearish
Grain traders are questioning whether the USDA played an early April Fool’s Day joke with its corn acreage projection in the department’s March 31st acreage estimates. The Prospective Plantings Report included a projection of 93.6 million acres of corn in 2016, well beyond the trade’s average expectation of just under 90 million. The soybean acreage… Read more »
Canola Crush Hits Record High
Evidence is adding up to show Western Canada really did grow a big canola crop last year, despite the drought. A combination of ample supplies, expanded crush capacity and the lower Canadian dollar are driving a rapid pace in canola consumption this year, both domestically and through exports. Canadian canola crush is up 12 percent from last… Read more »
In the Eye of the Storm — This Week in the Grain Markets
Grains started the month of March fairly hot, trying to rebound from its end of February, with more liquidity being added to the market and more bulls coming to the table on weather concerns. Nonetheless, given the size of the short position that managed money is holding on the futures board, there are some fundamentals… Read more »
Tote Bags Identified as Most Likely Carrier of PEDv In U.S.
A U.S. government agency has identified what it believes is the most likely way the devastating PED virus entered the country and infected millions of pigs. The findings are both surprising and a reminder that biosecurity plans must be thorough. The USDA’s Animal and Plant Health Inspection Service considered 17 plausible scenarios that could explain how PED and similar… Read more »