Grain and oilseed markets were green across the board on Tuesday after the USDA and Statistics Canada dropped a heavy load of new information into the market. The USDA released updated acreage and stocks estimates while StatsCan shared its acreage projections based on a farmer survey in early June. New crop soybean futures jumped more… Read More
Tag: Usda
Five, ten and fifteen day weather forecasts are all the rage these days as mathematical models built by market players (hedge funds and commercials) start to calculate the effects of rain, soil temperatures, and any other data point that you can think of. Some cooler, wetter weather is being forecasted for the American Midwest this week,… Read More
After months of anticipation, the grain and oilseed market finally got to see the U.S.D.A.’s acreage estimates for 2015 on Tuesday morning. While traders had braced themselves for some surprises and volatility, most of the numbers in both the Prospective Plantings and Quarterly Grain Stocks reports fell within the range of expectations. However, the numbers… Read More
Prices for wheat, corn, soybeans and canola all declined on Tuesday following the release of the USDA’s February supply/demand report. “(The report) confirmed what the markets were thinking,” says Neil Townsend, director of market research with CWB in the interview posted below. “U.S. numbers were pretty firm — they’re not going to change the production… Read More
Fewer winter wheat acres were planted than what the market thought, but other than that, the first USDA report of the new year, released Monday morning, did not contain any major surprises. “This really was a wave of new numbers for the market to digest, and yet if you look across the whole scope of it, there’s… Read More
Corn and wheat futures moved higher, while soybean values dropped following the release of the U.S. Department of Agriculture’s November crop production and supply/demand estimates on Monday morning. The numbers were not as bearish as many traders and analysts were expecting, says Mike Krueger, president of The Money Farm, in the interview above. “People thought… Read More
After trading at a significant discount to soybeans last year, contrasting production scenarios have resulted in canola gaining value relative to soybeans over the last few months. “Historically canola futures have traded $80, sometimes even $100 higher than soybeans. Last year was exactly the opposite,” explains Chuck Penner of LeftField Commodity Research. “What we’re starting… Read More
A coalition of North American meat and livestock organizations is keeping its legal options open as it attempts to have U.S. country of origin labeling (COOL) rules repealed. According to the industry, COOL is costing Canadian cattle and hog producers around a billion dollars per year. On Friday, a group that includes the Canadian Cattlemen’s… Read More
Keeping with the bearish trend in the grain markets, the USDA reported higher than expected corn and soybean yields and production in its monthly supply/demand report released on Thursday morning. The average U.S. corn yield was pegged at a record 171.7 bushels per acre, with total production of 14.4 billion bushels. For soybeans, the average yield for… Read More
Grain and oilseed prices through the middle of August continue to be depressed by anticipation of a bigger harvest. Specifically, on Tuesday, August 12th we got this month’s version of the USDA’s WASDE report which came in somewhat bullish corn, despite production still being pegged at over 14 billion bushels. Corn prices were supported by… Read More