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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.

Planted Acreage Number Shocks Corn Market

Jun 28, 2013

USDA Report Numbers


Planted Acreage
 
Expected
Reported
Corn 95.31
97.40
Soybeans 77.93
77.73
Wheat
55.90
56.53

 

New crop corn futures are down 22 cents following today's planted acreage report. Planted acreage came in 2 million acres above what the trade was expecting, and 500,000 acres higher than the highest analyst guess. Technical support at 512 has supported the DEC corn contract in the first 15 minutes following the report. A close below 512 would certainly open the door to further losses.

 

 

June 1st Quarterly Stocks
 
Expected
Reported
Corn 2,845
2,765
Soybeans 442 435
Wheat
745 718

 

 

June 1st grain stocks came in short of analysts expectations across the board for corn, soybeans and wheat. At the moment the July soybean contract is the only one trading in positive territory. With projected stocks to use of just 4% for soybeans, the trade is very nervous about old crop soybean availability over the last quarter of the marketing year.

For a full breakdown of the numbers and what this may mean for prices tune into today's GrainTV, available every afternoon on the Grain Hedge homepage.

grain hedge topper

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