Corn
The October WASDE effectively solidified the supply side of the U.S. corn and soybean balance sheets for the 2024-25 marketing year, though Gulke was surprised USDA didn’t raise yields because harvest has never been so good on his farm.
Unlike some past years, the October report didn’t provide much for the bulls or the bears. USDA did raise corn yield 0.2 bu. per acre to a record 183.8 bu. and lowered soybean yield 0.1 bu. per acre to 53.1 bu.
Oliver Sloup, Blue Line Futures says after a non eventful WASDE, grains saw some profit taking heading into the weekend with row crops seeing harvest pressure.
Scott Varilek, Kooima Kooima Varilek, says cattle futures need to take out the next layer of chart resistance to move higher. Grains continue to add war and weather premium and that shouldn’t change unless the WASDE is extremely bearish.
John Heinberg with Total Farm Marketing says the row crop markets are seeing continued pressure from three main fundamentals.
Darin Newsom with Barchart says wheat is higher adding war premium but soybeans and corn are seeing harvest pressure and trading South American weather.
All substance and no flash might best describe the fertilizer strategy Wisconsin farmer Clark Riemer is banking on to fuel his 2025 corn crop.
Take a tour through ISU’s Kent Feed Mill and Grain Science Complex, and you’ll encounter state-of-the-art technology advancing the feed industry.
Brian Grete, Pro Farmer, says wheat was supported by light fund short covering as traders were adding in some geopolitical risk premium.
The disconnect between what makes equipment more expensive (labor, steel, energy, computer chips, etc.) and what drives farm income (commodity prices) will continue to drive the machinery costs versus value discussion.