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
USDA report out at 11 am today. Could be bullish?
Seems likely for corn but historically, our USDA friends have thrown us more surprises than............ Donald Trump (-:
Had this in the wrong place, sorry about that.
By metmike - June 12, 2018, 12:11 p.m.
Initial reaction to the USDA report was solidly bullish, especially for wheat and corn.
Beans struggling to hold their spike high gains but holding. Corn now making new highs as well as wheat.
We need a dome on the next GFS to provide some bullish ammo to go with the report.
https://www.usda.gov/oce/commodity/wasde/latest.pdf
COARSE GRAINS:
"This month’s 2018/19 U.S. corn outlook is for reduced beginning stocks, lower feed and residual use, greater corn used for ethanol production, and lower ending stocks. Beginning stocks are down largely reflecting a 75-million-bushel increase in projected exports for 2017/18 to 2.300 billion bushels, which if realized would be the highest since 2007/08. Exports during the month of April were record high, besting the prior monthly shipment record set in November 1989. Export inspection data for the month of May implies continued robust global demand for U.S. corn, while old crop outstanding sales at this point in the marketing year are record high. Projected 2018/19 corn used for ethanol is raised 50 million bushels"
Global 2018/19 soybean ending stocks are increased 0.3 million tons to 87.0 million with higher stocks for Brazil partly offset by lower stocks for the United States and Argentina.
Stocks for Argentina are lowered mainly on a 2.0-million-ton reduction to the 2017/18 crop to 37 million
... had to double down day trade long the corn just to make sure I got all of the pieces of this rally to come... and was
in complete serenity at all times doing so...
Corn has a serious, fundamental story... we do not need a calamity weather year like 83, 88 etc to make this market...
SPIKE
Congrats silverspiker,
Looks like you are right on top of this!
I am currently residing next to Cargill's largest wet corn milling plant, Cargill's largest ethanol plant , ADM's ethanol
plant, and many other processors of corn AND also the, Trump card which is the only highway route to the
Mississippi for all of EC,SE & S. central IOWA grain barges.
.... the corn, grain trucks have been a whirrin' 24/7 for many, many months and emptying all of Old Crop out of the
near empty bins...
Sounds bullish to me, spike. Anybody that drinks 2 gallons of water a day must not be letting impurities interfere with their thought processes (-:
where is I.P.Daily when you need him...
... it really is the Tai Chi Yoga In The Pool that has been centering the mind as of lately.
12-Jun-2018 11:01:13 AM
June 12 (Reuters) - The following tables summarize trade expectations for the U.S. Department of Agriculture's monthly World Agricultural Supply and Demand Estimates (WASDE) report.
U.S. ending stocks and wheat production figures are quoted in billions of bushels. World ending stocks and production figures are quoted in millions of tonnes.
USDA 2017-18 U.S. grain and soybean ending stocks
USDA June | Average of | Range of | USDA May | |
2017-18 | analysts' | analysts' | 2017-18 | |
end-stocks | estimates | estimates | end-stocks | |
estimates | estimates | |||
Wheat | 1.080__ | 1.079 | 1.045-1.100 | 1.070 |
Corn | 2.102__ | 2.166 | 2.132-2.192 | 2.182 |
Soybeans | 0.505__ | 0.522 | 0.473-0.550 | 0.530 |
USDA 2018-19 U.S. grain and soybean ending stocks
USDA June | Average of | Range of | USDA May | |
2018-19 | analysts' | analysts' | 2018-19 | |
end-stocks | estimates | estimates | end-stocks | |
estimates | estimates | |||
Wheat | 0.946__ | 0.958 | 0.820-0.994 | 0.955 |
Corn | 1.577__ | 1.663 | 1.495-1.790 | 1.682 |
Soybeans | 0.385__ | 0.417 | 0.395-0.480 | 0.415 |
USDA 2017-18 world grain and soybean ending stocks
USDA June | Average of | Range of | USDA May | |
2017-18 | analysts' | analysts' | 2017-18 | |
end-stocks | estimates | estimates | end-stocks | |
estimates | estimates | |||
Wheat | 272.37__ | 269.99 | 267.00-271.00 | 270.46 |
Corn | 192.69__ | 193.39 | 190.00-195.10 | 194.85 |
Soybeans | _92.49__ | 91.35 | 88.30-93.10 | 92.16 |
USDA 2018-19 world grain and soybean ending stocks
USDA June | Average of | Range of | USDA May | |
2018-19 | analysts' | analysts' | 2018-19 | |
end-stocks | estimates | estimates | end-stocks | |
estimates | estimates | |||
Wheat | 266.16__ | 263.00 | 260.00-265.80 | 264.33 |
Corn | 154.69__ | 157.56 | 150.67-161.00 | 159.15 |
Soybeans | _87.02__ | 86.74 | 83.50-92.10 | 86.70 |
USDA 2018-19 U.S. wheat production
USDA June | Average of | Range of | USDA | |
2018-19 | analysts' | analysts' | May | |
estimate | estimates | estimates | estimates | |
All wheat | 1.827__ | 1.822 | 1.787-1.870 | 1.821 |
All winter | 1.198__ | 1.190 | 1.159-1.221 | 1.192 |
Hard red winter | 0.650__ | 0.645 | 0.608-0.670 | 0.647 |
Soft red winter | 0.316__ | 0.318 | 0.310-0.325 | 0.315 |
White winter | 0.232__ | 0.228 | 0.202-0.242 | 0.229 |
USDA 2017-18 South American corn and soy production
USDA June | Average of | Range of | USDA May | |
2017-18 | analysts' | analysts' | 2017-18 | |
estimate | estimates | estimates | estimate | |
ARGENTINA | ||||
Corn | 33.00___ | 32.53 | 31.00-33.00 | 33.00 |
Soybeans | 37.00___ | 37.89 | 36.00-39.00 | 39.00 |
BRAZIL | ||||
Corn | 85.00___ | 84.47 | 78.39-87.00 | 87.00 |
Soybeans | 119.00___ | 117.43 | 116.50-119.00 | 117.00 |
USDA world production
June USDA | May USDA | June USDA | May USDA | |
2017-18 | 2017-18 | 2018-19 | 2018-19 | |
estimate | estimate | estimate | estimate | |
Argentina wheat | _18.00 | 18.00 | _19.50 | 19.50 |
Australia wheat | _21.50 | 21.50 | _24.00 | 24.00 |
Canada wheat | _30.00 | 30.00 | _32.50 | 32.50 |
Russia wheat | _84.99 | 84.99 | _68.50 | 72.00 |
Argentina corn | _33.00 | 33.00 | _41.00 | 41.00 |
Brazil corn | _85.00 | 87.00 | _96.00 | 96.00 |
South Africa corn | _13.50 | 13.50 | _14.00 | 14.00 |
China corn | 215.89 | 215.89 | 225.00 | 225.00 |
Ukraine corn | _24.12 | 24.12 | _30.00 | 30.00 |
Argentina soy | _37.00 | 39.00 | _56.00 | 56.00 |
Brazil soy | 119.00 | 117.00 | 118.00 | 117.00 |