How serious is the late planting? Depends upon the source of the opinion. (Hint, the trade is not all that concerned.)
The drumbeat of drought has been with us all winter. Grain prices have declined, farmer selling has slowed, and the talk has been that prices will recover, because, after all, we are still in drought in the Western Corn Belt. Mississippi This winter we listened to news that the Army Corp. of Engineers was not [...]
When grain markets don’t seem to matter: At the heart of it, we remain under attack because we are Americans.
Corn has rallied on the idea that the corn acres will decrease and the beans will increase, in Thursday’s USDA Planting Intentions Report.
The middle of March is a hard time to plan grain marketing. We are in the dark about actual planting plans, spring weather, and the results of the winter weather we are now experiencing.
The traveling experts are worried that we are going to raise a big crop and have $4.50 corn. The farmers don’t believe it.
USDA says we may plant 96 million acres of corn. They look for 76 million acres of soybeans, although there is some thinking that we could see as much as 79.75 million acres. Last year we planted 77.198 million.
Current U.S. grain market movement is in a trading range, and no progress is being made.
Regardless of USDA reports last Friday, we are trading this grain market as a short-crop year.
Grain prices are at or near lows on all three major commodities on the Chicago Board of Trade.