Markets - General
Which USDA Reports Should Farmers Give Their Attention To?
Over the last 5 trading sessions corn dropped 90 cents, while beans were nearly unchanged.
China’s purchasing of corn and beans is the biggest factor impacting the market right now.
Last week May corn prices blew past $6, and then a few days later $6.50.
USDA February Report observations and highlights that will impact farmers short and long-term.
It was another volatile week in the commodity markets. So, what’s helping and hindering prices? Darin Newsom of Darin Newsom Analysis and Tommy Grisafi of Advance Trading break down the factors impacting the markets.
As of mid-December, a significant portion of U.S. wheat acres are experiencing drought.
Inflation climbs but consumers still feel a touch better
Most of the report’s focus was on wheat; USDA made little change to corn and soybeans for both domestic and South American production.
The market trends that ended 2020 are starting to surface in the last few weeks of 2021. Could prices follow a similar pattern?