Today, USDA released its monthly Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.
Report News and Analysis
USDA hit the corn market with bullish news in its Aug. 11 Crop Production report.
Tom Grisafi of Indiana Grain Company says we may hit $8 for corn prices in the future.
The state's farmers won't produce as much corn and soybeans as they had hoped for the second consecutive year.
Bob Utterback of Utterback Marketing says the report is bullish but three things to consider.
Listen in to Illinois Ag Economist Darrell Good's analysis of today's reports.
USDA’s Crop Production report released this morning caught just about everybody by surprise.
A drop in corn yields was expected, but the market was trading 155-156 bu./acre corn yield.
Mike Howlett of Top Third Ag Marketing supplies the report numbers. A bullish report.
Corn up 4%, cotton down 9%, soybeans down 8% from last year.
Corn production for 2011/12 is forecast 556 million bushels lower with a reduction in harvested area and lower expected yields.
World Agricultural Supply and Demand Estimates
Pre-Report Analysis and Estimates
Bob Utterback of Utterback Marketing offers pre-report comments. Points out how to react to protect profits.
Based on the current forecasts, corn will need to average 154 bu./acre and soybeans 41.5/bu.acre.
Andy Shissler of Roach says the market has been difficult the last few days.
USDA's crop reports and their accuracy have come under fire this summer. Director of the NASS Statistics division Joe Prusacki answers the criticism and gives insight into what will determine this week's numbers released on Thursday morning.
Kevin Van Trump of Farm Direction said there was a lot of short covering today.
This week’s focus will be on the August 11 Crop Production report, which will contain three important numbers for soybeans.
Tom Grisafi of Indiana Grain Company said outside markets are affecting grain prices. Grain markets are acting positive today. Thursday report will affect markets but we do have a trading grain market with risk involved.
Mike Howlett of Top Third Ag Marketing said grains were trading off the overnite lows -- corn 20, beans 32, and wheat 15. DOW trading stronger. Thursday yield report will be based on 'stalk count' not 'ear' count. For open today expect corn up 3-5, beans up 4-6, wheat up 2-4.
Nate Smith of the Gulke Group said there was not much discussion about grain markets. Thursday's report hardly mentioned. The real issue for all markets was where the Dow would close.
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