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03-20-2014 08:10 AM - edited 03-20-2014 01:49 PM
The Your World In Agriculture page has been updated. Check it out! Once on the page, click on Luis Vieira, the Brazilian contributor. A new story has been filed on record crop insurance claims and Brazil's new Ag Minister.
At the close:
The May corn futures contract closed 9 1/4 cents lower at $4.78. The Dec. corn futures finished 8 cents lower at $4.80. The May soybean futures contract closed 2 1/2 cents higher at $14.33. November soybean futures ended 1 1/2 cents lower at $11.89. May wheat futures closed 12 cents lower at $7.03 per bushel. The May soymeal futures contract settled $4.50 per short ton higher at $466.50. The May soyoil futures finished $0.79 lower at $41.31.
In the outside markets, the NYMEX crude oil is $0.35 per barrel lower, the dollar is higher and the Dow Jones Industrials are 57 points higher.
The May corn futures contract is trading 7 cents lower at $4.80. The Dec. corn futures are trading 6 1/2 cents lower at $4.82. The May soybean futures contract is 7 cents lower at $14.24. November soybean futures are 8 cents lower at $11.82. May wheat futures are 13 cents lower at $7.02 per bushel. The May soymeal futures contract is trading $0.80 per short ton higher at $462.80. The May soyoil futures are trading $1.10 lower at $41.00.
In the outside markets, the NYMEX crude oil is $0.37 per barrel lower, the dollar is higher and the Dow Jones Industrials are 65 points higher.
One analyst sizes up today's action like this: "The beans have been crazy all week. Beans have been rallying on tight domestic cash, but the news has been turning with the Brazil beans coming in. I think after the decent export sales and an outsized reaction, funds and commercials are starting to move out. Might be a top, we will see. Need a bad close now. Corn and wheat have not been real strong except for wheat early. Wheat is a weather market and there are signs of rain for eastern Plains this weekend and more about a week later and the cold is not supposed to get as bad as forecast yesterday. Corn has been acting bad, anyway. So, with no support for wheat and beans corn is bad!"
At the open:
The May corn futures contract is trading 1 cent lower at $4.86. The Dec. corn futures open 2 cents lower at $4.86. The May soybean futures contract is 13 cents higher at $14.44. November soybean futures are 2 cents higher at $11.93. May wheat futures are 1 cent higher at $7.17 per bushel. The May soymeal futures contract is trading $7.60 per short ton higher at $469.60. The May soyoil futures are trading $0.05 lower at $42.06.
In the outside markets, the Brent crude oil is $1.81 per barrel higher, the dollar is higher and the Dow Jones Industrials are 17 points lower.
USDA Weekly Export Sales numbers:
Corn= 745,800 vs. the trade's estimate of 300,000-850,000 metric tons,
Soybeans= 639,700 vs. the trade's estimate of 150,000-850,000 metric tons
Wheat = 597,000 vs. the trade's estimate 200,000-700,000 metric tons,
Separately, the USDA announced Thursday that China bought 120,000 tons of U.S. soybeans for 2014-15.
Early calls: Corn is seen 1-2 cents lower, soybeans 13-15 cents higher, and wheat 3-5 cents lower.
Overnight grain, soybean markets=Trading mostly lower.
Brent Crude Oil=$1.81 per barrel higher.
Wall Street=Seen lower.
World Markets=Asia/Pacific stocks were lower, Europe stocks were lower.
More in a minute,
03-20-2014 08:45 AM
Same state as Dano...different area..Nort. Cent. ....With conditions we have now and with 10 day forecast I am looking at , it will be hard to imagine being in the field by May 1. Thinking May 5-10. Historically May 1 is corn planting time and any small grains such as oats we have planted as early as Apr. 1. Very little frost in the ground but lots of snow and ice on top. In Nort. Cent. Wi. we are getting set up for a late Spring !!! John
03-20-2014 09:01 AM
Dan A few acres still standing...hopefully standing....most acres meant for grain ended up in silage pile last Fall. Had quite a few beans not combined last Fall and alot more taken for forage. Personally speaking...I went PP on all row crop acres last year.
03-20-2014 11:35 AM
Did you see the latest private 2014 U.S. Acreage Estimates:
Doane's planting intentions survey shows farmers will plant 90.9 million corn acres, below the USDA’s 92.0 mln, while soybean acreage is suggested to be 83.6 mln, up 4 mln from the USDA.
What do you think? Soybean number seems really large, corn number not big enough.