Tuesday, July 23, 2019
Tags Posts tagged with "grain markets"

Tag: grain markets

Market observers and U.S. Department of Agriculture specialists continue to have different ideas about the size of this year’s corn and soybean crops. USDA came out with its grain stocks report last week, which included current estimates of the crop.

To say the numbers released by the National Agricultural Statistics Service are incredible is an understatement. To say they are being met with disbelief is universal. The grain market will be shaken for much of the summer.

Grain markets rallied, in reaction to USDA June 24 reports, which detailed continued incomplete planting and dreadful crop conditions.

Large areas of the Midwest still have very little planting done. Where it is good, it is very good, but where it is bad, it is awful.

The reality of really delayed corn planting is that acres will be reduced by either prevented planting for a switch to soybeans.

The reality in today's grim grain markets is that the bad weather is not even in the USDA reports yet.

The USDA shocked the markets with Prospective Planting and Grain Stocks reports Friday, March 29.

Between the ground farmers expect to plant in 2019 and the crops still in storage, the acreage lost for the 2019 growing season to flooding may not matter.

Much has been promised amid this ongoing trade war, but we still don't have the results we're expecting.

The U.S. grain market is finding it hard to define what is going on, and that results in nervous traders and a directionless market, says our fearless grain commentator Marlin Clark.
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