14 February 2016 | Online since 2003

US could see final corn yields close to a record



11 July 2014 12:24:14|Arable,Cereal,Crops,Market Reports,News

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


Name

Please enter your name


Email

Comment

Please enter your comment


Post Comment

Your comment submitted successfully.Please wait for admin approval.


Comments

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

World News

Greece | 12 February 2016
Government braces for farmers' descent on Athens

Hundreds of farmers from various parts of Greece are expected to descend on Athens on Friday to protest against planned increases to their tax and social security contributions but the government hope...


United Kingdom | 12 February 2016
Payments row Scottish government minister faces farmers

Scottish government rural affairs secretary Richard Lochhead is expected to face tough questions about payments to farmers later. The minister is due to address the NFU Scotland annual general meet...


Canada | 12 February 2016
Cage-free eggs have drawbacks says farm animal welfare expert

The push for cage-free eggs by fast food companies is not necessarily the best option, according to a farm animal welfare expert at the Atlantic Veterinary College. Michael Cockram at UPEI's Sir J...


France | 12 February 2016
France's Hollande says to cut farmers' payroll taxes

French President Francois Hollande said on Thursday that the government would reduce payroll taxes to help struggling farmers. Prime Minister Manuel Valls "will announce before February 17 a new de...


New Zealand | 12 February 2016
Sheep farmers look for answers to slow the decline

Sheep farmers can't seem to catch a break at the moment. Pat Deavoll delves deep into why sheep numbers have declined. The message is clear; the demise of sheep farming in South Canterbury reflects...



Trending Now

Viewed
Discussed

Farms and Land for sale


Holiday Rentals search



Top stories you may have missed
Username
Password