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PFA Pioneer Blog

RSS By: Chip Flory, Pro Farmer

This is a private blog for Pioneer.

After further review...

May 18, 2012

Pro Farmer Extra

- From the Editors of Pro Farmer newsletter

After further review...

May 18, 2012

After further review, the CME Group announced this week it will not have grain trade open from 6:00 p.m. to 4:00 p.m. under the electronic format. Instead... it will be open from 5:00 p.m. to 2:00 p.m. starting May 20. That's a 21-hour trading day... and it means markets will be open when USDA releases critical supply and demand data. Strap down the seatbelt... it's bound to be a bumpy ride.

 

We published the May issue of Pro Farmer's Crop Tour newsletter this week. We cover a wide variety of crop issues, including the final look at South American production from Pro Farmer consultant Dr. Michael Cordonnier. But South American crop worries are very quickly being replaced with crop worries around the globe. In the Former Soviet Union drought is starting to take a bite out of winter wheat production and is threatening spring-planted crops. Perhaps most concerning are exceptionally dry conditions in Kazakhstan. This country is a major player in the global wheat market and production is being severely threatened.

 

Many in the market this week wanted to talk about developing crop problems in Ukraine, as well. However, soil moisture levels are "okay" for now. Nonetheless, the forecast is for hotter and drier conditions, which could stall development of a newly planted corn crop. And corn is becoming more of a major crop in Ukraine. Right now, Argentina is the second largest corn exporter in the world, but many market watchers expect Ukraine to challenge Argentina for that number-2 spot within two to three years. If they have a good crop in 2012, Ukraine could move up the list as soon as the 2012-13 marketing year.

 

Be sure to read the May issue of Crop Tour. And thank you Pioneer for making it possible to bring this information to the market!


To see more of what Pro Farmer has to offer, be sure to visit www.profarmer.com.

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