USDA Reports
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are sharply higher on Monday as news came late Sunday that New World Screwworm (NWS) had been detected 70 miles from the U.S. Mexican border. in an 8-month-old calf from a transported herd.
Jon Scheve discusses how realistic the USDA’s demand estimates are across the different categories and how that could impact prices.
“I’ve had conversations with lawmakers on the hill, counterparts in the white house and across the cabinet. We are putting together options from A to Z, so when the President decides it’s time, we can step in,” she says.
Scott Varilek with Kooima Kooima Varilek, says the last time placements and markets were this low was in 2015, which may be signaling heifer retention is starting to take place.
Allison Thompson with The Money Farm says corn rallied on Tuesday as the market does not believe USDA’s 186.7 bu. per acre yield estimate especially with some disappointing early yield reports.
Jon Scheve with Scheve Grain says corn and soybeans were seeing a technical bounce Tuesday with corn getting some extra help from early yield reports which are showing lower production than a year ago due to disease pressure, especially Southern Rust.
Ted Seifried with Zaner Ag Hedge says after 10-cent gains on Friday the corn market saw some profit taking but also report hangover. The September WASDE was bearish for the corn market and traders had the weekend to finally let that soak in.
Joe Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday but after a second week of lower weekly closes, he’s not sure if the market can retest the highs.
Jon Scheve discusses early yield reports he is receiving from farmers throughout the US to determine what the market may expect moving forward.
Chip Nellinger with Blue Reef Agri-Marketing says corn rallied on Friday in reaction to USDA’s 2.1 bu. per acre yield cut to 186.7 bu. cut he thinks there are bigger cuts yet to come.