The USDA Prospective Plantings and Quarterly Grain Stocks Report were released today, March 30 and are based on information as of March 1, 2012. The prospective plantings report fell within pre-report ranges for cotton and wheat and above the high end of expectations for corn and below the low end of expectations for soybeans. On the average, corn acres were 1.16 million acres higher than the average pre report guess; cotton 410,000 acres more than the average guess; soybeans 1.6 million acres less than the average pre report guess; and wheat 1.69 million acres less than the average pre report guess. The quarterly grain stocks were reported to be Continue reading →

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 →