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09-18-2013 07:15 AM - edited 09-18-2013 02:15 PM
At the close:
The Dec. corn futures contract closed 2 cents higher at $4.56. The Nov. soybean futures contract settled 5 cents higher at $13.47. Dec. wheat futures end 3 1/2 cents higher at $6.46 per bushel. The Dec. soymeal futures are trading $0.80 per short ton lower at $425.80. The Dec. soyoil futures settled $0.47 higher at $42.71.
In the outside markets, the NYMEX crude oil is $2.32 per barrel higher, the dollar is lower and the Dow Jones Industrials are 174 points lower.
The Fed Reserve announced Wednesday that it will not change its quantitative easing program. No tapering will occur, for now.
--USDA announces Wednesday that China bought 1.93 million tons of U.S. soybeans for 2013-14 delivery.
--USDA announces Wednesday that China bought 182,000 tons of U.S. soybeans to China for 2013-14 delivery.
At the open:
The Dec. corn futures contract is trading 3/4 of a cent higher at $4.54. The Nov. soybean futures contract is trading 1 1/2 cents lower at $13.41. Dec. wheat futures are trading 1/2 of a cent higher at $6.43 per bushel. The Dec. soymeal futures are trading $1.00 per short ton lower at $425.60. The Dec. soyoil futures are trading $0.03 lower at $42.21.
In the outside markets, the NYMEX crude oil is $0.47 per barrel higher, the dollar is higher and the Dow Jones Industrials are 17 points lower.
Early calls: Corn is seen 1-2 cents higher, soybeans 3-5 cents lower, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.66 per barrel higher.
Wall Street=Seen trading higher, ahead of the much anticipated Fed Reserve 'tapering' announcement today.
World Markets=Asia/Pacific stocks were mixed, Europe stocks higher.
More in a minute,
09-18-2013 08:57 AM - edited 09-18-2013 09:01 AM
Visited with one of my neighbors that has several uncles farming in the north central Iowa area that are reporting very low crop adjuster numbers on some of the corn up there... Under 25 bpa.
From what I've seen up there that would be the exception but it is still there to go along with the millions of acres of summer fallow.
How is this going to play out with the southern fringe states at 20% over normal yields and most west of central Ne and Ks under by 20% on irrigated or an almost 0 on dryland, and Iowa, Minn, and Wis under by 30% or more?
NW Kansas corn field being baled, 600 acres to go.
Hows that average out?
bales bringing $75+ each at the feed yard.
BTW that is the replacement baler
09-18-2013 09:58 AM
|2013/14 Corn Production|
|Results current as of:
18-Sep-13 09:56 AM
09-18-2013 10:05 AM
I will be at Meredith Corporation headquarters for a month working updating you on South American crops and other things, as well as touring around the Midwest. Yesterday, I went to LIncoln, Nebraska, and checked the tractor tests there.
What I can tell you is that the crops I saw on the road were dry in Iowa and much better in Nebraska. The funny fact is that at the same day it rained a lot in Iowa, but the sun shined in the afternoon in Nebraska.
09-18-2013 10:08 AM - edited 09-18-2013 11:10 AM
The end users are just hanging on to the USDA's pie in the sky #'s
and in the mean time the farmers are a lot like this squirrel
And behind curtain # 3 the Chinese are booking very large orders.
The great grain robbery of '13/'14? Perpetrated by our very own USDFA?
Where' the Hee Haw guys with their "doom, angony, despair song for this one?