Europe maize in good shape, confusion on US corn forecast

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WASHINGTON (Commodity Online): The Maize crop output of Europe is deemed to be excellent, thanks to the timely rains. "The EU maize crop is looking overall in super shape and the outlook is for plentiful supplies in the coming months," one German trader said to Reuters. "This is likely to protect Europe from tighter global…


US corn output climbs even as area under production remains unchanged

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The chart below plots the US acreage of Corn harvested vs.production. Green lines plot the production in tons all the way from 1967 to 2009, where as red lines plot the area of corn harvested. From the chart, it is evident that corn area harvested has remained little changed even as corn production has fluctuated…


Argentine corn area to soar, even if La Nina hits

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Farmers in Argentina may lift corn sowings by 20% despite a threat from dry weather, thanks to a potential for profits which "is just too good to pass up". Many forecasters have warned that farmers in the South American country, the second-biggest exporter of the grain after the US, will trim plans to expand 2011-12…


Economics of Corn and Soybean Storage

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US – With smaller grain and oilseed supplies than those of a year ago and increased storage capacity, there should be fewer crop storage issues than in recent years. The decision by producers to store corn and soybeans, however, should be based on expected returns rather than on capacity to store. Total supplies (production plus…


Despite widespread rainfall in state, condition of corn crop deteriorates

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Despite the first week of above-average rainfall in six weeks, the quality of the corn crop fell, the U.S. Department of Agriculture reported Tuesday. The percentage of Iowa’s corn crop rated good to excellent dropped from 57 percent for the week ending Aug. 28 to 55 percent for the week ending Sunday. Nationally, the percentage…


CME: Pig Prices Still Down After Corn Price Rise

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US – The drought induced mess that is 2011 seasonal feedlot placements has mostly everyone trying to guess how seasonal feeder cattle prices might differ this year from normal patterns, write Steve Meyer and Len Steiner. Dr Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offered a very good discussion of the ‘normal’ pattern…


Corn crop estimates continue low

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Two more private forecasting firms have checked in with yield estimates for the current corn crop that are under the most recent U.S. Department of Agriculture predictions. Allendale inc. has pegged the corn yield at 147.7 bushels per acre. Informa Economics puts the yield at 151 bushels. Those numbers are in line with the 146.3…


Analysts call time on ever-smaller US corn hopes

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Analaysts at Allendale and Informa Economics called time on the relentless decline in US corn production forecasts, pegging the yield well above a market-moving figure from Lanworth. Allendale, the Chicago-based broker, pegged the US corn crop at 12.466bn bushels, on a yield of 147.7 bushels per acre. Informa Economics estimated the yield at 151.0 bushels…


Lanworth corn estimate sends grain prices soaring

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Grain futures jumped in Chicago – defying a sell-off in external markets which scuppered coffee’s winning run -after Lanworth analysts lowered the bar further on US corn yield estimates. Chicago’s benchmark December corn contract overcame a slow start to soar more than 3% to $7.64 ¼ a bushel in midday deals, Illinois time, recovering nearly…


US grain cos tighten GMO policy, eye Syngenta corn

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CHICAGO, – Major U.S. grain companies have tightened curbs on genetically modified grains not yet approved by foreign markets, with some singling out one popular corn variety made by Syngenta (SYNN.VX), fearing any trace of the biotech grain in shipments could shut off export markets. The action was taken just weeks before the U.S. corn…


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