Electronic Markets and Yesterday's Report
Jul 01, 2010
Indiana Grain Company CEO Thomas Grisafi posted a commentary on YouTube that explains why the markets took such a wild swing following yesterday's acreage and stocks reports. Tom says it's a completely different world with today's electronic markets, and that caught some traders by surprise.
Today's trading should be a bit more calm as investors aim to start their long Fourth of July weekend a little early and avoid some of the risk built into the markets.
On a related note, let me direct you to the
AgWeb/Top Producer acreage estimates we released last week. We were within 500,000 acres of USDA's projections on corn acres and we just missed soybeans by 160,000 acres. Thanks to our readers who took part in our annual survey!
Acreage Estimate Comparisons
(1,000 acres)
|
USDA 2009 Final Acreage
|
March 31, 2010, Projections
|
AgWeb/Top Producer Survey
|
USDA June 1, 2010, Acreage Estimates
|
|
Corn
|
86,482
|
88,414
|
87,872
|
|
Soybeans
|
77,451
|
78,708
|
78,868
|
|
Cotton
|
9,008
|
10,750
|
10,909
|
You can get the full reports and Pro Farmer analysis here. Top Producer Market Analyst Jerry Gulke and Farm Journal Economist Bob Utterback give their responses to the reports here.
