As it turned out, the USDA provided a couple of positive surprises in the reports yesterday, primarily for the grains. A reduction in the trend line yield for corn to 177 bpa was well received by corn bulls, but the bigger surprise came in the global wheat numbers, where they…
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When I first looked at the export sales figures this morning, I thought there must have been some type of mistake, but no, there were just uniformly terrible. Beginning with corn, for the week ending the 5th, we set a marketing-year low of 192,700 MT or 7.6 million bushels. This…
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The hot and dry conditions being experienced in France are garnering more and more attention in the news and, of course, in markets as well. France is, after all, the EU’s largest exporter of wheat, and the fourth largest globally, usually shipping out around half of the 35 MMT it…
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Had the current weather outlook not improved for the better, the planting and crop conditions updates may have generated a bit more buying interest, but as it stands, the action this morning looks to be little more than turnaround Tuesday type trade. Corn planting moved ahead by just 8% to…
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To borrow a line from John Denver’s early 1970’s hit song, “Sunshine, on my shoulders, makes me happy.” I suspect there may be more than a few midwestern farmers that would agree with that sentiment this morning as we finally have clear and sunny skies across much of the region,…