Floor Talk June 29 (Report Day)

[farm-n-hawk]

From tassel to early grain fill it takes .3 to .35 inches of water a day for the corn crop.   Nine inches of rain in the month of July is highly unlikely anywhere so we depend on subsoil moisture to get us through. This year there isn't much or as much subsoil moisture due to rains shutting off since last July and little to no precip. or snow this winter. Top that off with a warmer than normal winter and much above temps. this spring has us living (or not) from rain to rain. Rains at the right time very, very critical this year compared to other years.

At least it's cloudy today!

[marketeye]

At 12-Noon:

It looks like a rainstorm is building into northern and the very tip of northcentral Illinois. Here's the latest look at the Freese-Notis Weather Inc.'s radar:

[marketeye]

Here's how much the trade looked past today's USDA Report. One firm is already out with estimates for July 11.

PFGBEst.com estimates for July 11 Report:

2011-12 U.S. Ending stocks
            
            2012                 
Corn       860                   
Soybeans   170                   
Wheat      740                   


2012-2013 U.S. Ending stocks
            
            2013                             
Corn        1.690                       
Soybeans   135                          
Wheat      698                          


2011-12 World Reserves
            
               2012              
Corn        128.85               
Soybeans    53.10                
Wheat       194.90               


2012-13 World Reserves
            
               2013                            
Corn          154.00                        
Soybeans      58.10                         
Wheat         184.50                       

Mike                             

[Farmerjoe79]

When did they do the 2013 ending stocks for corn cause you could nock a good 800 million off that and still be conservative. I see the ending stocks being around 1 billion and moving lower each month. Maybe down to 500 million if the weather doesn't cooperate.