USDA Reports
Jon Scheve discusses what is impacting corn prices right now and how the different USDA categories are tracked and estimated.
Jon Scheve discusses the USDA report and what will be impacting soybean prices moving forward.
Jon Scheve discusses the highlights of the latest USDA report and what to expect moving forward.
The biggest surprise came from the agency cutting corn yield less than a bushel and loweing soybean exports by 50 million bushels.
Details are minimal so it’s not clear how there will be enough staff to provide the Milk Production, Crop Production, Cattle on Feed and WASDE reports with many still furloughed.
The impact of disease and dry conditions are becoming increasingly evident as combines roll. More than 70% of farmers report steady or lower yields in Ohio, Indiana, Illinois, Iowa, Minnesota, Nebraska and South Dakota.
Dan Basse, Ag Resource Company, says corn stocks were 207 million bu. above USDA’s projected ending stocks which was bearish for the market. Soybeans also made new lows for the move despite a slightly friendly report.
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.