Cotton prices are up while corn, soybean and wheat prices are down for the week. The June U.S. Dollar Index before the close is at 79.58, down .50 for the week. The Dow Jones Industrial Average before the close is down 152 points for the week at 13,080. Crude Oil was trading before the close at 107.09 a barrel, down 0.49 a barrel for the week. The soybean to corn ratio which reflects November soybeans compared to December corn is now at 2.37 to 1 up from 2.05 to 1 at the first of the year. This is still in favor of planting corn, but soybeans have closed the gap. Continue reading →

Corn, soybean and wheat prices are up while cotton prices are down for the week. The June U.S. Dollar Index before the close is at 80.07, down .44 for the week. The Dow Jones Industrial Average is closed up 311 points for the week at 13,233. Crude Oil was trading before the close at 107.31 a barrel, down 0.09 a barrel for the week.  Private 2012 U.S. acreage estimates based on producer surveys indicate higher corn acres, slightly lower soybean acres and wheat acres while higher than last year, not quite as high as earlier thought. Additional private survey results will be released as we move toward the March 30 date when USDA will release their Prospective Plantings report. Continue reading →

 Soybean prices are up while corn, cotton and wheat prices are down for the week. The March U.S. Dollar Index before the close is at 80.06, up .60 for the week. The Dow Jones Industrial Average is currently down 35 points for the week at 12,943. Crude Oil was trading before the close at 107.32 a barrel, down .62 a barrel for the week.  Greece took efforts to force compliance in its debt swap deal resulting in a sharply lower euro and strong dollar. Price held up quite well today in the face of a stronger dollar and a more or less neutral USDA report. Continue reading →

Corn

In today’s report, ending stocks were unchanged at 801 million bushels and a 6.3% stock to use ratio. The trade was expecting stocks of 785 million bushels on an increase in exports. The season average price is projected to range from $5.90 to $6.50 a bushel, up 10 cents on the lower side and down 10 cents on the upper side. Global corn stocks decreased 32 million bushels from last month to 4.903 billion bushels on mainly higher foreign feed use. Corn production in Argentina and Brazil was expected to be 98 million bushels lower than today’s USDA projection which was 39 million bushels higher than February. Continue reading →

Prices and comments are through Thursday, March 1, 2012. Corn, soybeans, and wheat prices are up while cotton prices are mixed for the week through Thursday. The March U.S. Dollar Index closed at 78.83, up .53 for the week. The Dow Jones Industrial Average closed down 3 points for the week at 12,980. Crude Oil closed at 108.33 a barrel, down .94 a barrel for the week. February is the month that base prices for crop insurance Revenue Protection is set. Unofficial prices are $5.68 a bushel for corn, 93.35 cents a pound for cotton, and $12.55 a bushel for soybeans. Continue reading →

 Soybean prices are up while corn, cotton, and wheat prices are down for the week. The March U.S. Dollar Index traded before the close at 78.30, down 1.16 for the week. The Dow Jones Industrial Average before the close was up 32 points for the week at 12,982. Crude Oil traded before the close at 109.21 a barrel, up 4.85 a barrel for the week. USDA at its annual Agricultural Outlook Forum released what should be considered working numbers for the 2012/13 marketing year. These are really just guesses and are debatable by some whether they should have much market influence. Continue reading →

Corn, soybean and wheat prices are up while cotton prices are mixed for the week. The March U.S. Dollar Index traded before the close at 79.51, up .28 for the week. The Dow Jones Industrial Average before the close was up 141 points for the week at 12,942. Crude Oil traded before the close at 102.98 a barrel, up 4.31 a barrel for the week. Prices are up this week despite strength of the Dollar which is buoyed by events in Europe. Continue reading →