Mole Valley Farmers
Farminguk
28 September 2016 | Online since 2003
Auto Trader Ltd


11 July 2014 12:24:14 |

US could see final corn yields 'close to a record'


Soycomplex
Beans closed closed 4 to 10 cents lower. Weekly export sales of 56,300 MT of old crop and 526,500 MT of new crop were towards the top end of trade estimates of 250,000 to 650,000 MT.
The average trade yield estimate for Friday's USDA report is 45.1 bu/acre, according to a Bloomberg survey. Old crop ending stocks are expected to be around 128-130 million bushels, rising to over 400 million for new crop. Jul 14 Soybeans closed at $13.29 3/4, down 4 3/4 cents; Nov 14 Soybeans closed at $10.93 1/4, down 10 1/2 cents; Jul 14 Soybean Meal closed at $434.00, down $5.50; Jul 14 Soybean Oil closed at 37.27, up 23 points.
Corn
The corn market closed around 3 to 6 cents lower on the day. Front month Jul 14 just about managed to close above $4/bu, although Sep 14 and Dec 14 didn't come close.
Weekly export sales of 363,000 MT of old crop and 381,600 MT of new crop were slightly ahead of trade forecasts for a combined 500-700 TMT. The average trade guess for US corn yields on Friday is 165.9 bu/acre, with some suggesting that the current "non-threatening" outlook could see final yields end up close to a record 170 bu/acre. Old crop ending stocks are expected to rise to 1.233 billion bushels, with new crop stocks at something like 1.8 billion. Jul 14 Corn closed at $4.00 3/4, down 3 1/4 cents; Sep 14 Corn closed at $3.85 3/4, down 5 1/2 cents.
Wheat
The wheat market closed anywhere from unchanged to 6 cents lower across the three exchanges. Despite the recent slide in prices there was little sign of a short-covering rally heading into tomorrow's USDA report. Weekly export sales came in at only 338,100 MT which was a bit below most trade expectations.
The average trade guess for US all wheat production tomorrow is at 1.964 billion bushels, with ending stocks seen around the 590 million level. Canada analysts are saying that as many as 3.0 million acres intended for spring grain (mostly wheat) and canola planting were lost due to wet weather. Jul 14 CBOT Wheat closed at $5.36 1/4, down 3 1/4 cents; Jul 14 KCBT Wheat closed at $6.57 1/2, down 3 1/4 cents; Jul 14 MGEX Wheat closed at $6.40, unchanged.

Download

0 Comment

loginuserlogo
Name

Please enter your name


Email

Please enter your email

Please enter valid email


Comment

Please enter your comment


Post Comment

Your comment has been submitted successfully. Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment


New Zealand | 28 September 2016
Weed free crops? Science may have the answer

Australian scientists are working on a revolutionary new way to help farmers rid their crops of weeds. With billions of dollars lost by farmers every year because of weeds, scientists from Charles ...


Puerto Rico | 28 September 2016
Puerto Rico finds unexpected source of growth in agriculture

Puerto Ricans are buying rice produced on the island for the first time in nearly 30 years. They are also eating locally grown mushrooms, kale and even arugula, along with more traditional crops such ...


USA | 28 September 2016
U.S. farmer lawsuits over Syngenta GMO corn granted class status

A U.S. district court judge in Kansas this week said lawsuits brought by U.S. farmers against seed company Syngenta AG over sales of biotech corn seeds not approved for import by China can proceed as ...


France | 28 September 2016
French cows die after eating all winter stock in one night

Almost half of a 50-strong herd of cows in western France ate themselves to death after chomping on the equivalent of a whole winter’s rations in just one night. The farmer in the Loire-Atlantique ...


Japan | 28 September 2016
2 companies pioneering purchases of Japanese farmland

Photo album giant Nakabayashi and home remodeler Sanyo Amnak will become the first businesses to buy Japanese farmland under a new strategic zone regulation aimed at raising agricultural productivity....



Trending Now

Viewed
Discussed


Top stories you may have missed
FarmingUK
FarmingUK Logo

FarmingUK

Labour will end the badger cull and prioritise ending bovine TB, Shadow Def...


FarmingUK
FarmingUK Logo

FarmingUK

A herd of rare White Park cattle could die out if its owners do not urgentl...


FarmingUK
FarmingUK Logo

FarmingUK

The UK government is "failing" to support farmers in the long-term accordin...


FarmingUK
FarmingUK Logo

FarmingUK

Retailer Co-op has announced that from May 2017 all of its bacon and lamb w...


FarmingUK
FarmingUK Logo

FarmingUK

Over 50 wildlife organisations have compiled a stock-take of all the UK's n...


FarmingUK
FarmingUK Logo

FarmingUK

In the run up to the EU farm ministers meeting the agricultural sector have...


FarmingUK
FarmingUK Logo

FarmingUK

The RPA must iron out a number of problems that still exist with 2015 BPS p...


FarmingUK
FarmingUK Logo

FarmingUK

Tourism businesses in the countryside are being held back due to the uncert...


FarmingUK
FarmingUK Logo

FarmingUK

A 24 point action plan aimed at revitalising Scotland's sheep sector after ...


FarmingUK
FarmingUK Logo

FarmingUK

A new survey has revealed that the vast majority of British consumers belie...


closeicon
Username
Password