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USDA Reports

USDA Reports For 3-31-14

On March 31, 2014, USDA released its “Prospective Plantings Report” and its “Quarterly Grain Stocks Report”.  These were very highly anticipated USDA Reports, due to the uncertainty in grain prices in recent months, as well as with the potential for large increases in USDA estimated grain stocks in the coming year. Typically, these late March USDA Reports are very critical to farm operators and grain traders because these reports tend to have a high impact on grain market prices in the Spring and early Summer. This is the time of the year when many farm operators try to sell remaining grain inventories from the previous growing season, as well as look for opportunities to forward price a portion of the anticipated crop for the current year. In a majority of years, corn and soybean prices usually reach their peak price in the Spring months, from April until June.  [ read more ... ]

 

USDA Report Lowers Corn Supply

On February 10, USDA released the latest World Agriculture Supply and Demand Estimates (WASDE) Report, which showed slight decrease in the expected U.S. corn ending stocks for 2013-14, compared to the January estimates. The projected 2013-14 corn ending stocks are now estimated at 1.48 billion bushels, as compared to 1.63 billion bushels in the January Report. By comparison, corn ending stocks were only 821 million bushels at the end of the 2012-13 marketing year, and 989 million bushels at the end of the 2011-12 marketing year. The all important corn “stocks-to-use” ratio for 2013-14 is now estimated to be near 11.1 percent by the end of the current marketing year, as compared to a stocks-to-use ratio of only 7.4 percent for the 2012-13 marketing year. [ read more ... ]

 

January 10 USDA Reports

As expected, the USDA Crop Production Report released on January 10 indicates that the total U.S. corn production for 2013 will increase significantly, and the 2013 soybean production will increase moderately, as compared to production levels in 2012. The final national average yields per acre for corn and soybeans in 2013 are also expected be significantly higher than the drought-reduced 2012 yields. Following are some highlights of the latest USDA Crop Report, as well as the latest Supply and Demand (WADSE) Report : [ read more ... ]

 

November 8 USDA Reports

As expected, the USDA Report released on November 8 increased the estimated total corn and soybean production in 2013. Crop production estimates were raised, despite many areas of Iowa, Minnesota, and the Upper Midwest dealing with very late planting, along with some late season drought conditions. However, overall 2013 crop conditions in the U.S. were better than expected, with many areas benefiting from some very favorable weather in late Summer, and the extended growing season in the Upper Midwest enhanced some of the later planted crops. The changes in the November crop production figures were a bit more dramatic than normal due to the fact that no October USDA Reports were issued, as a result of the Federal Government shutdown in early October. [ read more ... ]

 

Sept. 12 USDA Crop Report

The USDA Crop Production Report released on September 12 made a slight increase in the expected U.S. corn production for 2013, as compared to the August USDA Report, while making a 3 percent reduction in estimated 2013 U.S. soybean production. USDA is now estimating total 2013 corn production at 13.8 billion bushels, which if realized, would result a new record for annual U.S. corn production. Total U.S. corn production was 10.8 billion bushels in the drought year of 2012, 12.3 billion bushels in 2011, and 12.5 billion bushels in 2010. USDA left the anticipated harvested corn acres at 89.1 million acres, which is unchanged from the August 1 estimate. [ read more ... ]

 

May 10 USDA Report Summary

The USDA Crop Production and World Agricultural Supply and Demand Estimates (WADSE) Reports released on May 10 were regarded as “bearish” for the corn market and neutral to “bearish” for the soybean market in the coming months. Corn stocks are expected to more than double by the end of the next crop marketing year, while the ending stocks for soybeans are expected show more moderate increases for the 2013-14 marketing year, which runs from September 1, 2013 to August 31, 2014. Following are some highlights of the latest USDA latest USDA WADSE Reports :

[ read more ... ]

March 28th USDA Reports

On March 28, 2012, USDA released its “Prospective Plantings Report” and its “Quarterly Grain Stocks Report”.  These were very highly anticipated USDA Reports, due to the uncertainty in grain prices in recent months, as well as with the tight USDA estimated grain stocks that existed in recent months. Typically, these late March USDA Reports are very critical to farm operators and grain traders because these reports tend to have a high impact on grain market prices in the Spring and early Summer. This is the time of the year when many farm operators try to sell remaining grain inventories from the previous growing season, as well as look for opportunities to forward price a portion of the anticipated crop for the current year. In a majority of years, corn and soybean prices usually reach their peak price in the Spring months, from April until June. [ read more ... ]

 

USDA INCREASES CORN SUPPLY

On February 8, USDA released the latest World Agriculture Supply and Demand Estimates (WASDE) Report, which showed slight increase in the expected U.S. corn ending stocks for 2012-13, compared to the January estimates. The projected 2012-13 corn ending stocks are now estimated at 632 million bushels, as compared to 602 million bushels in the January report. By comparison, corn ending stocks at the end of 2011-12 marketing year were 932 million bushels, and were just over 1.1 billion bushels at the end of the 2010-11 crop year. The all important corn “stocks-to-use” ratio for 2012-13 is estimated to be near 5.6 percent by the end of the current marketing year, which is slightly higher than the lowest ever stocks-to-use percentage of 5.0 percent in 1995-96. That will put the corn stocks down to slightly over 20 days of usage, which is still quite tight. [ read more ... ]

 

 

Nov. 9 USDA Report

The USDA Report released on November 9 increased the estimated total soybean production in 2012 to 2.97 billion bushels, which is 4 percent above the 2.86 billion bushel estimate in October. The 2012 soybean production estimate is still 4 percent lower than the 2011 U.S. soybean production of 3.09 billion bushels, and 11 percent below the 2010 production level of 3.33 billion bushels. This production increase is a fairly major production adjustment for this late in the year. [ read more ... ]

 

October 11 USDA Crop Report

The October 11 USDA Crop Report showed significant increases for both corn and soybean yields in Minnesota, as compared to September Crop Report. This corresponds closely to actual corn and soybean yields being reported from many areas of the State, which have been better than expected, given the extremely dry weather conditions that existed in several areas. Crop yields in the Southwest and South Central parts of the State have been highly variable due to the drought conditions that existed during the last half of the 2012 growing season. However, it appears that adequate stored soil moisture resulting from the above normal rainfall in May, along with some timely rainfalls during the critical portion of the growing season, helped achieve the better than expected 2012 corn and soybean yields in many areas of the State. Minnesota is certainly the “bright spot” in the U.S. in 2012 for corn and soybean yields, as nationwide yield results come in during this drought year. [ read more ... ]

 

September 12 USDA Crop Report

The USDA Crop Report released on September 12 made a slight decrease in the expected U.S. corn and soybean production for 2012, as compared to the August USDA estimates, reflecting the severity of the 2012 drought in many areas of the U.S. USDA is now estimating the total 2012 corn production at 10.7 billion bushels, which slightly below the 10.8 billion bushel estimate in August. Total U.S. corn production was 12.3 billion bushels in 2011, 12.5 billion bushels in 2010, and 13.1 billion bushels in 2009. If the 2012 projections hold up, this would be the lowest total U.S. corn production since 2006. [ read more ... ]

 

USDA AUGUST 10 CROP REPORT

Due to the severe drought affecting much of the major corn and soybean producing areas of the United States, the August 10 USDA Crop Report was very highly anticipated. A large percentage of the primary crop growing areas in Illinois, Indiana, Iowa, Missouri, Nebraska, and Kansas are in severe to extreme drought conditions, with major reductions in crop yields. Portions of Wisconsin, North and South Dakota, Ohio, and Southern Minnesota have also experienced some drought conditions. The USDA crop estimates were based on crop conditions as of August 1, and the USDA Crop Report verified the severity of the 2012 drought. [ read more ... ]

May 10 USDA Reports

The USDA Crop Production and World Agricultural Supply and Demand Estimates (WADSE) Reports released on May 10 were regarded as “bearish” for the corn market and “bullish” for the soybean market in the coming months. Corn stocks are expected to double by the end of the 2012-13 crop marketing year, while the ending soybean stocks are expected to be at the tightest level on record by the end of the 2012-13 marketing year, which runs from September 1, 2012 to August 31, 2013. Following are some highlights of the latest USDA latest USDA WADSE and Crop Reports : [ read more ... ]

 

March 30 USDA Reports

On March 30, 2011, USDA released its “Prospective Plantings Report” and its “Quarterly Grain Stocks Report”.  These were very highly anticipated USDA Reports, due to the uncertainty in grain prices in recent months, as well as with the tight USDA estimated grain stocks that existed on March 1. Typically, these late March USDA Reports are very critical to farm operators and grain traders because these reports tend to have a high impact on grain market prices in the Spring and early Summer. This is the time of the year when many farm operators try to sell remaining grain inventories from the previous growing season, as well as look for opportunities to forward price a portion of the anticipated crop for the current year. In a majority of years, corn and soybean prices usually reach their peak price in the Spring months, from April until June. [ read more... ]