The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Grain TV is a daily recap after the market close, providing opinions on fundamental analysis of market direction, influences and expectations. This daily program is produced by Grain Hedge, a discount brokerage firm that provides farmers and elevators with agricultural intelligence including live market quotes, cash bid data, the Grain Hedge Optimizer™ and mobile trading platforms, all for $7 commission per side. Grain Hedge provides tools to allow farmers the ability to trade when the markets move without having to wait for a broker and the information to execute a marketing strategy with confidence.
Click play to hear our take on this morning's USDA Report
Grains are trading mixed after this morning's USDA report, at the moment we see corn up 6 1/2, soybeans off 3 1/2, and wheat up 14 cents. The USDA increased projected food and seed use by 20 million bushels, but reduced projected exports by 50 million bushels resulting in a net increase to ending stocks by 30 million bushels. Soybean crushings were raised 10 million bushels, resulting in 10 million bushels taken off US ending stocks. Wheat ending stocks came in lower than trade expectations after the USDA raised feed and residual use by 25 million bushels.
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