Markets - General
While the USDA crop report was not bullish is apparently was not bearish enough for the trade versus their anticipation reflected by the price collapses recently into the report.
After the NASS acreage notice posted last week, it’s not just acreage adjustments that could be on deck in USDA’s September reports this week. USDA will also release results from its first field surveys.
The full impact from Hurricane Ida is still unknown. The uncertainty was partially to blame for a major market sell-off Monday with September soybeans closing 54 cents lower and September corn down nearly 18 cents.
Hurricane Ida packed a punch of 150 mph winds this weekend, crippling grain shipping facilities in a key export area along the lower Mississippi River. Now it’s a question of how long export activity could be shuttered.
The carbon market is poised for growth but farmers are still looking for reliable information, return on investment and assurances that they won’t be unfairly penalized or lose control over their operations.
Dryness over the next six months in Argentina is expected to reduce the size of the country’s two main cash crops, corn and soy, while complicating navigation of grain cargo ships on the Parana River, analysts said.
A day after USDA showed declining crop conditions for the U.S. soybean crop, September soybean future skyrocketed, closing 43 cents higher on the day. Demand also played a factor in the markets Tuesday.
Pro Farmer Crop Tour: Is the U.S Going to Produce Enough Corn and Soybeans to Keep Pace with Demand?
As Pro Farmer Crop Tour wrapped up this week, scouts saw inconsistency in the West and consistency in the East. With Pro Farmer’s projected crop size, Brian Grete and Chip Flory discuss the demand piece of the puzzle.
USDA’s August crop production report cut the national corn yield and sent corn futures up more than 20¢. Now, Pro Farmer Crop Tour is gearing up for the first boots on the ground look at crop production this season.
USDA’s August reports came with surprises. From a cut to the corn yield, to the revisions in export demand, the changes fueled prices both Thursday and Friday. So, where does the market go from here? Analysts weigh in.