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Grain Hedge

RSS By: Brock Schimbeno, AgWeb.com

Grain Hedge is a self-directed discount brokerage that saves farmers money when trading in the futures and options market. For $7 commissions per side producers can execute their marketing strategy with authority, any time the markets trade.

USDA Report Bearish Beans

Nov 09, 2012

A lot of red across the board this morning after the USDA's November Crop report. Ending stocks for soybeans come in well above trade expectations, and at the moment we see the January contract trading down 22 cents. USDA raised soybean export expectations by 80 million bushels, crush by 20 million bushels, but a yield estimate a full bushel per acre higher than trade expectations resulted in ending stocks coming in at 140 million bushels vs the 130 million expected.

Less fireworks this morning for corn and wheat. Corn is trading unchanged but wheat is down 9 cents in Chicago and and 8 1/2 in KC. Ending stocks for US wheat was raised 50 million bushel as a result of a 50 million decrease in exports, and we had Ukraine export expectations raised to 6 MMT.

Full analysis later today on GrainTV...

Highlights From This Morning's Report:

  •  Soybean ending stocks at 140 million bushel (131 average trade expectation)
  •  Soybean yield bumped to 39.3 BPA (38.164 average trade expectation)
  •  Corn going to ethanol left unchanged
  •  Corn yield bumped to 122.3 BPA (inline with trade expectations
  •  Harvested acreage for corn/soybeans/wheat unchanged
  •  Brazil and Argentina soybean production left unchanged
  •  Brazil and Argentina corn production left unchanged

grain hedge topper

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