Grain TV by Grain Hedge
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.
USDA Report Analysis
Oct 11, 2012
Corn: 10.706 billion bushel vs 10.601 expected
Soybeans: 2.86 billion bushel vs 2.764 expected
Corn: 122 BPA vs 122.88 expected
Soybeans: 37.8 BPA vs 37 expected
Corn: 619 million bushel vs 648 expected
Soybeans: 130 million bushel vs 134 expected
Other Important Numbers
Soybeans exports for 12/13 raised by 210 million bushel
1.1 million acres added to 12/13 soybean harvested acreage
Once again we saw a wide range printed in the first 20 minutes of trading (picture below) before the market settled into a trade range. At the time of this post we see corn up 25 cents, soybeans up 30 cents, and wheat trailing - up 9 in Chicago and 11 in Kansas City.
Ending stocks for soybeans came in 2% below market expectations while corn was 4% lower than market expectations. We saw dramatic revisions to projected soybean export sales (1.1 million bushel higher) and projected corn export sales (1 million bushel lower) which reflects the sluggish pace for corn in recent weeks and a soybean export market that remains red hot.
Bulls are looking for a substantial harvested acreage revision in coming reports, where as the bears are looking at this report as providing little bullish news and this rally being pushed by short covering.
Want the platform you see below in your home or office? Click the image to sign up for a no-obligation trial that will let you experience live quotes for yourself.
THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.