The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Bob Utterback has more than 26 years of experience and offers producers a disciplined approach to marketing.
The grain markets closed mixed today, the last full day of trading before the Actual Acreage and Quarterly Stocks reports due out on Monday at 11:00 am Central time. The USDA has surprised us so I would assume Monday will be no different. I look for a bearish tone in the soybeans with the potential for increased stocks and acres. In my opinion, corn also has the potential for a slight increase in acres. One could assume that shortly after the midday reports, the market will revert back to weather and if the afternoon Crop Progress Report will show any deterioration.
I would assume that everyone has placed their hedges and waiting to see the final numbers. Rain makes grain and one must assume that in many areas pollination will come early and not unless we continue to see more wet pockets throughout the Midwest the potential for a large crop is there. We will post our thoughts and recommendations on Monday after we have reviewed the numbers.
If anyone feels they need to put structure into their risk management decision-making and would like to discuss marketing strategies, call Bob or Laura (1-800-832-1488). We will also try to answer questions in upcoming blogs and we welcome emails to firstname.lastname@example.org or email@example.com.
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