CME: USDA Releases Latest Grain Estimates

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US – USDA released its latest estimates of US grain and meat supplies for 2012 and below is a brief recap of the grain forecasts and our initial read of the data, write Steve Meyer and Len Steiner. US nearby corn futures were up the daily permissible limit during the day session on Tuesday on…


Corn, soybeans fight back after USDA report

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After dropping as much as 10 cents per bushel in early trading on the Chicago Board of Trade after what appeared to be a bearish U.S. Department of Agriculture harvest report, corn and soybean prices fought back to end the day unchanged. Corn closed the market day down about a half-cent at $6.44 per bushel…


Early price peak for corn and soybeans?

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The 2011-12 corn and soybean marketing years will be characterized by the need to reduce consumption of both crops.  The magnitude of those needed reductions are not yet known and the prices needed to make those cuts will depend on the strength of underlying demand. Based on the most recent USDA projections and the assumption…


USDA says Nebraska crops progressing nicely

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LINCOLN, Neb. (AP) — The U.S. Department of Agriculture says Nebraska’s two main crops of corn and soybeans appear to be in good shape. The USDA released its weekly report on crop conditions Monday. It said temperatures had warmed up again and were averaging about 4 degrees above normal last week, but the crops were…


Cattle rise ahead of USDA report; hogs higher

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U.S. cattle futures rose Friday as traders squared positions ahead of a key U.S. Department of Agriculture cattle-on-feed report. Cattle for August delivery rose 0.2 cent, or 0.2%, to $1.143 a pound in trading at the Chicago Mercantile Exchange. CME October cattle rose 0.1 cent, or 0.1%, to $1.155 a pound. Feeder cattle for August…


ISU expert: USDA’s outlook for corn too rosy

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Iowa State University agronomy climatologist Elwynn Taylor warned Thursday that the U.S. corn yield is likely to average 149 bushels per acre, which would be lowest in five years. Taylor’s estimate was four bushels per acre below the U.S. Department of Agriculture estimate released last week. Other agronomists and farmers believe the government’s estimate is…


Corn stocks ‘to prove even tighter’ than USDA says

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The squeeze on US corn supplies may be even stronger than shown by US data, implying a tightening to historic lows, given potential underestimates to demand from ethanol plants and foreign buyers, Standard Chartered said. The bank, saying corn futures may continue rising into 2012, hiked its corn price forecasts by up to $1.25 a…


Farmers skeptical of USDA crop progress

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Corn and soybean conditions didn’t change over the last week, according to Monday’s USDA-NASS weekly Crop Progress report. But, if you ask farmers around the Corn Belt, the numbers may not paint the clearest picture of how the crops are faring, especially the corn crop. As of Sunday, 60% of the corn crop is in…


Corn, Soybean Crop Conditions Unchanged, USDA Says; Cotton Gains

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The condition of the U.S. corn and soybean crops was unchanged last week, the U.S. Department of Agriculture said. About 60 percent of the corn in the top 18 producing states was in good or excellent condition as of yesterday, the USDA said today in a report. A year earlier, 69 percent got the top…


USDA Lowers Production Estimates Due to Difficult Weather

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The USDA updated the U.S. and World balance sheet estimates for major agricultural commodities in the World Agricultural Supply and Demand Estimates (WASDE) report today. WASDE reports in the summer are a barometer of overall world demand, forecasted production, and inventory adjustments. In August, U.S. ending stocks for 2011/12 were revised lower for corn and…


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