Sep 14, 2014
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Cash Grain Insights

RSS By: Kevin McNew, AgWeb.com

Kevin McNew is President of Grain Hedge and Geograin. McNew was raised on a farm in central Oklahoma and received his bachelor’s degree from Oklahoma State University, and master’s and Ph.D. degrees in Economics from North Carolina State University. For over a decade, he was a Professor of Economics at the University of Maryland and Montana State University, focusing on commodity markets. He has received numerous academic awards for his research and outreach work, and was (and still is) widely regarded for boiling down complex economic issues into easy-to-understand concepts for applied life.

 

SDS Spotted In Some IL Fields

Aug 27, 2014

 We have a mixed morning in the grains with corn trading down 2 ½ cents, soybeans increasing 3 ¾ cents and wheat trading up a penny as we go into the morning pause in trading.

This morning the Taiwan Flour Millers Association rejected all offers for U.S wheat for a 99,410 metric ton tender which closed on Wednesday. The rejection came on the basis that prices were too high. Yesterday, the Russian Agriculture Ministry stated that they expect the 2014/15 grains exports to be at a record-high 27.5-30 million metric tons, up around 3 million metric tons from their previous forecast. GASC awarded the 175,000 metric ton wheat tender to Russia and Romania.

On Tuesday China’s state soybean auction sold 34% of the state reserves that were made available for sale, which was better than last week’s 24% sold when a similar volume of soybeans was offered by the state. This week’s Soybeans sold for an average of 24 yuan per metric ton more than last week.

There has been increased observation of SDS (Sudden Death Syndrome) spotted in fields throughout Illinois, South East Iowa, Northern Missouri and North East Kansas. In the Indiana crop progress report it was mentioned that "While soybeans setting pods received much needed moisture, excess water and humidity in the fields contributed increased SDS and foliar lesions in certain counties." SDS seems to be appearing rather quickly and will likely be mentioned in next week’s crop progress report. This will be an issue to monitor closely going forward.

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