Getting hammered from the get go after the 8:30am open
Crop ratings will be out this afternoon.
From last week:
Started by metmike - June 4, 2018, 5:29 p.m.
"Crop still in outstanding shape.
Corn 78% GD/EX, beans 75%.
Cotton only 42% GD/EX compared to 61% a year ago. TX/OK/MO in double digit P/VP from the severe drought.
https://release.nass.usda.gov/reports/prog2318.txt
NEW with this post
Crop ratings this afternoon will drop a bit(my guess) maybe 1-2% but still be very high.
Rains Sunday may not have come in time to help the ratings for this afternoon but they came in plenty of time to help the crop and the week after that.
Ratings in MO and AR will drop.
As stated over the weekend watch SMN and the 200 day moving avg. It would fill the daily chart gap
Exports inspections just out:
Not bad for corn but down a bit from last week.
Up a bit for beans
Up a bit for wheat.
Not what the market is trading however
We are having enough rains already in the rain gauges that are dialed into the price with future rains going to be less and less here, that I think we could get some support pretty soon.
SX has now dropped over 80c and CZ almost 40c.
The latest forecasts "may" start trending drier. If that happens, we can start going back up.
However, this is not the time of year to be long unless the market feels there is a potential threat to the crop.
Forecasts trending drier, if that continued would qualify as the start of a threat.
Don't take this as a suggestion to buy now but do follow my updates as I will try to objectively report changes in the weather(which effects the markets) in timely fashion.
There is a monthly USDA report out tomorrow at 11am CDT. Here is the USDA calendar:
Today, at 3pm they release their WEEKLY crop progress report with the ratings. It looks like you can hit the blue letters below and go to it directly from the forum.........if its been updated.
Monday | Tuesday | Wednesday | Thursday | Friday |
---|---|---|---|---|
1 3:00 pm ET - Cotton System - Fats & Oils - Grain Crushings - Peanut Prices | ||||
4 3:00 pm ET - Dairy Products 4:00 pm ET - Crop Progress | 5 | 6 3:00 pm ET - Broiler Hatchery | 7 | 8 3:00 pm ET - Peanut Prices |
11 3:00 pm ET - Quick Stats Database - County Estimates: Poultry 2016-2017 4:00 pm ET - Crop Progress | 12 12:00 pm ET - Crop Production | 13 3:00 pm ET - Broiler Hatchery | 14 3:00 pm ET - Potato Stocks | 15 3:00 pm ET - Peanut Prices - Turkey Hatchery |
18 4:00 pm ET - Crop Progress | 19 3:00 pm ET - Milk Production | 20 3:00 pm ET - Broiler Hatchery | 21 3:00 pm ET - Livestock Slaughter | 22 3:00 pm ET - Cattle on Feed - Chickens and Eggs - Cold Storage - Peanut Prices |
25 3:00 pm ET - Poultry Slaughter 4:00 pm ET - Crop Progress | 26 3:00 pm ET - Noncitrus Fruits and Nuts - Ann. | 27 3:00 pm ET - Broiler Hatchery | 28 3:00 pm ET - Agricultural Prices - Egg Products - Hogs and Pigs - Peanut Stocks and Processing | 29 12:00 pm ET - Acreage - Grain Stocks - Peanut Prices - Rice Stocks |
Crop condition about as I expected.
https://release.nass.usda.gov/reports/prog2418.txt
Corn -1% to 77% GD/EX
Beans -1% to 74% GD/EX
Still very high ratings.
Cotton GD/EX stayed the same but P/VP increased 5%.........TX/OK
Spring Wheat stlll 70% GD/EX