USDA Reports
Naomi Blohm of Total Farm Marketing says corn, soybeans and wheat had strong technical closes on Friday and for the week. What will it take to keep going?
Sam Hudson of Corn Belt Marketing says the grain rally on Wednesday was impressive but ran out of steam.
Kyle Bumsted of Allendale says corn was taking a breather after 20 cent report gains on Wednesday. Cattle and hogs were down hard.
Dave Chatterton of Strategic Farm Marketing says USDA provided some positive data for the corn market in the WASDE and could be headed for $5.
USDA’s August report cut corn yields by 2.3 bushels per acre while strong export demand tightened ending stocks, avoiding the bearish surprise traders feared from last year.
Tapped by Secretary Rollins, Kip Tom is building a faster, satellite-driven replacement for NASS’s aging survey system, one he says could turn monthly reports into biweekly ones by year’s end for multiple crops.
Mike Minor with Professional Ag Marketing says grains were under pressure early Tuesday positioning ahead of the August report and with news of Russia and Ukraine meeting to discuss safe passage of vessels in the Black Sea.
The WASDE report coming Wednesday is highly anticipated after last year’s corn yield shock of 188.8 bpa.