Thursday's USDA reports were bearish, and corn took the brunt of the bearish action closing down the 40-cent limit. Corn stocks were larger than expected, although the current marketing year ending stocks are still tight. Winter wheat planted acres were larger than expected. Soybean demand was reduced again. Here are some additional thoughts.1. Hard red winter wheat acres are projected to increase about 1.5 million acres from 2011 acres. Planted acres in Texas and Oklahoma alone are projected to increase by a million acres, with North Dakota up 300,000 acres. There are several reasons for the increases:
The initial crop revenue insurance price guarantee for 2012 HRW is $8.72 compared to $7.14 last year. KC July futures are now below $...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
