Here we go the USDA market movers

[sw363535]

•  all eyes will be on the USDA Ag Forum this morning with Chief Economist Glauber’s presentation up shortly. The trade will be very interested in the government’s ideas, particularly on next season’s acreage and demand. An informal Reuters survey has the trade varied in the 91.5-94.0 million acre range for expected corn acreage (compared to 93.5 mln in the baseline numbers), with bean estimates even more scattered at 78.5-85.5 mln ac (all up from the 78.0 mln baseline). 

  That is the news that is news 

[sw363535]

RTRS - USDA PROJECTS 2014 U.S. CORN PLANTINGS 92.0 MLN AC (95.4 MLN IN   2013) 

07:29:13

USDA PROJECTS 2014 U.S. SOYBEAN PLANTINGS 79.5 MLN AC (76.5 MLN  IN 2013) 

07:29:36

RTRS - USDA PROJECTS 2014 U.S. ALL-WHEAT SOWINGS 55.5 MLN AC (56.2 MLN  IN 2013) 

07:29:54

RTRS - USDA PROJECTS 2014 U.S. ALL COTTON PLANTINGS 11.5 MLN AC  (10.4  MLN IN 2013) 

07:30:13

RTRS - USDA SAYS U.S. CORN USED FOR ETHANOL WILL GROW "MODESTLY"  THROUGH 2022/23 

 ---------------------------------

ethanol ------------- growing ??????

[roarintiger1]

No doubt about it.  The USDA is pitching again.  I project that the pitch will be a curveball to the grain markets.......low and away.   It would be wise to take the pitch because it sure isn't gonna be a strike.

BTW sw, What meeting you going to.....PA?  Predictors Annonymous?

[sw363535]

PA   for sure ------------  definitely a good DA  class  ----- Dictionary Annonymous?

[WCMO]

How much of the modest growth in ethanol would you think is simply due to projected growth in consumption due to a projected improving economy?  As opposed to other factors, legislative or higher blends.

[roarintiger1]

I would say that a good chunk of the demand is the result of continued high prices of crude oil and the low price of corn.......Ethanol is the cheapest octane source on the planet....econ 101.

[sw363535]

That's what i am told ------- rumor is that a few  blenders are looking at the use a 15% because of the price alone.