The long MLK weekend seemed to be an excuse for soybean speculators to rethink the bullishness that came out of the Jan. 10th USDA reports.
For the last couple of weeks I have been saying that only the March Planting Intentions Report from USDA can help this market. My idea has been that I don’t see bullish news anywhere on the horizon. But, I do think that farmers will like $13 soybeans better than $4 corn.
Grain market traders got evened up ahead of today’s USDA report.
Once again we can talk about the harvest low, except that we have to worry that the actual low is not in, and may not be seen until anticipation of the January Inventory Report by USDA.
The EPA is proposing a cut in what we refer to as the “ethanol mandate.” Although this is still a proposal, it hit the market like law.
The corn yields are surprising, and staying huge as the harvest goes on. Everyone’s waiting for USDA’s report Nov. 8.
One axiom in the grade trade is that big crops keep getting bigger. This does not necessarily mean that the crop improves, but that the reporting of the estimates of ultimate crop size changes. That is, each successive crop estimate gets bigger until we get to the January Inventory Report and the final reality puts […]
It should not surprise us that rainy weather has delayed harvest. It delayed planting, and cool weather did not allow the crop to catch up. So, here we are, absent government reports as USDA is catching up from the shutdown, and guessing just what has been harvested. Whatever it is, it is not enough. Making […]
The grain harvest delay has been the excuse needed to see prices perk up a little.
If the harvest is disappointing, we could see a rally into the late harvest. If not, we have not yet seen the low.