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T. Marc Schober  

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  • Farmers Finally Caught-Up With Soybean Harvest
    Nov. 3, 2014 CORN, WEAT, SOYB Comment!

    Summary

    • The USDA estimated the corn harvested at 65%, a 19% increase from last week, but 8% behind the five-year average.
    • Soybean harvest was reported at 83%, a 13% increase from last week and even with the five-year average.
    • Winter wheat planting progress was at 90% this week, a 6% increase from last week and 1% behind the five-year average.
  • U.S. Soybean Exports Decrease For The First Time In 2 Months
    Oct. 30, 2014 SOYB, CORN, WEAT Comment!

    Summary

    • Weekly net corn sales were 489,800 MT, a 77% decrease from last week and a 36% decrease from the prior 10-week average.
    • Weekly net soybean sales were 1,326,000 MT, a 29% increase from last week and a 55% increase from the prior 10-week average.
    • Weekly net wheat sales were 444,900 MT, a 49% increase from last week and a 10% increase from the prior 10-week average.
  • Corn Harvest Progress Improves As October Closes
    Oct. 27, 2014 1 Comment

    Summary

    • The USDA estimated the corn harvested at 46%, a 15% increase from last week, but 19% behind the five-year average.
    • Soybean harvest was reported at 70%, a 17% increase from last week, but 6% behind the five-year average.
    • Winter wheat planting progress was at 84% this week, an 8% increase from last week and even with the five-year average.
  • Low Prices Spur Demand For Corn And Soybeans
    Oct. 23, 2014 CORN, SOYB, WEET Comment!

    Summary

    • Weekly net corn sales were 2,166,800 MT, a 13% increase from last week and a 305% increase from the prior 10-week average.
    • Weekly net soybean sales were 1,031,300 MT, a 10% increase from last week and a 36% increase from the prior 10-week average.
    • Weekly net wheat sales were 299,400 MT, a 34% decrease from last week and a 27% decrease from the prior 10-week average.
  • Soybean Harvest Halfway Done
    Oct. 20, 2014 SOYB, CORN, WEAT Comment!

    Summary

    • The USDA estimated the corn harvested at 31%, a 7% increase from last week, but 22% behind the five-year average.
    • Soybean harvest was reported at 53%, a 13% increase from last week, but 13% behind the five-year average.
    • Winter wheat planting progress was at 76% this week, an 8% increase from last week, but 1% behind the five-year average.
  • Rural Economy Struggles Under Record Crop Expectations
    Oct. 20, 2014 DBA 3 Comments

    Summary

    • The Rural Mainstreet Index (RMI), an index which ranges from 0 to 100 with 50.0 representing growth neutral, decreased to 43.4 from 48.2 in September.
    • The farmland price index decreased to 20.2 from 33.7, its lowest level on record.
    • The farm equipment sales index decreased to 15.1 from 17.6, a record low for the index.
  • Farmers Unable To Close The Gap As Harvest Remains Delayed
    Oct. 14, 2014 CORN, SOYB, WEAT Comment!

    Summary

    • Corn conditions were estimated by the USDA at 74% in “Good” or “Excellent” condition, unchanged from last week.
    • Corn harvested was reported at 24%, a 7% increase from last week, but 19% behind the five-year average.
    • Soybean harvest was reported at 40%, a 20% increase from last week, but 13% behind the five-year average.
  • Record Crop Continues To Grow
    Oct. 10, 2014 CORN, SOYB, WEET Comment!

    Summary

    • WASDE overview.
    • Corn and soybean production.
    • Looking forward to the remainder of harvest.
  • Soybean Exports Increase For Fifth Consecutive Week
    Oct. 9, 2014 SOYB Comment!

    Summary

    • Weekly U.S. net corn sales were 784,800 MT, a 23% increase from last week, exports were 978,100 MT, a 58% increase from last week.
    • Weekly net soybean sales were 923,400 MT, a 6% increase from last week, exports were 978,100 MT, a 58% increase from last week.
    • Weekly net soybean sales were 923,400 MT, a 6% increase from last week, exports were 972,500 MT, a 30% increase from last week.
  • Weather Hinders Harvest Progression
    Oct. 6, 2014 CORN, SOYB, WEAT Comment!

    Summary

    • Harvest behind average.
    • Conditions are good.
    • Prices are up week to week.
  • U.S. Soybean Sales And Exports Dominated By China
    Oct. 2, 2014 SOYB, CORN, WEET 1 Comment

    Summary

    • Weekly corn sales were 638,000 MT, a 24% decrease from last week.
    • Weekly net soybean sales were 869,100 MT, a 66% decrease from last week.
    • Weekly net wheat sales were 741,100 MT, an 87% increase from last week.
  • September Harvest Off To A Slow Start
    Oct. 1, 2014 CORN, SOYB, WEET Comment!

    Summary

    • September marks the beginning of harvest and has been a slow start for the Corn Belt, due to the slow progress of corn maturity.
    • Grain prices continued to decline through the month of September due in large part to the estimated record domestic production for corn and soybeans and global production for wheat.
    • The Creighton University farmland price index contracted for the third consecutive month moving from 41.4 to 33.7, its lowest level since February.
  • Soybean Stocks Estimated At A Record Low
    Sep. 30, 2014 SOYB, CORN, WEET Comment!

    Summary

    • Soybean stocks were reported at their lowest level in modern history at 92 million bushels.
    • USDA reported 1.24 billion bushels of old crop corn on hand for September 1, 2014, a 50% increase from last year.
    • Wheat stocks were reported at 1.91 billion bushels, a 2% increase from last year. Stocks stored on-farm totaled 722 million bushels, a 30% increase from last year.
  • Harvest Progresses Slowly In The Corn Belt
    Sep. 29, 2014 CORN, SOYB Comment!

    Summary

    • Corn conditions were estimated by the USDA at 74% in “Good” or “Excellent” condition, unchanged for the past four weeks.
    • Soybean conditions were reported at 72% of the crop in “Good” or “Excellent” condition, a 1% increase from last week.
    • Spring wheat harvest was reported at 94% complete, an 8% increase from the previous week, but 2% behind the five-year average.
  • Corn And Soybeans Sales Continue To Rally In September
    Sep. 25, 2014 CORN, SOYB Comment!

    Summary

    • Weekly U.S. net corn sales for the week ending September 18th in the 2014/2015 marketing year were 836,400 MT, a 27% increase from last week.
    • Weekly net soybean sales were 2,565,600 MT, a 75% increase from last week.
    • Weekly net wheat sales were 396,300 MT, a 26% increase from last week.
  • Corn And Soybean Harvests Behind Mid-September Average
    Sep. 23, 2014 CORN, SOYB, WEET 1 Comment

    Summary

    • Harvest progress for corn and soybeans has been slowed by wet weather across the U.S. throughout September.
    • Condition reports remain at 20-year highs despite maturity levels for both corn and soybeans being behind their five-year average.
    • Spring wheat harvest was reported at 86% complete, a 12% increase from the previous week, but 6% behind the five-year average.
  • Soybean Sales Reach 10-Month High
    Sep. 18, 2014 SOYB, CORN, WEET Comment!

    Summary

    • Soybean sales exploded after ending the marketing year on three straight weeks of reductions.
    • Corn sales also increased, while wheat sales decreased. Soybean exports also increased substantially reaching levels not seen since mid-May.
    • Corn and wheat exports also increased, it was the first time since July that all three commodities saw export increases in the same week.
  • Harvest Begins At A Slow Pace
    Sep. 15, 2014 WEAT, CORN, SOYB Comment!

    Summary

    • The corn harvest has officially begun and the USDA estimated 4% of the corn acres harvested, even with this time last year, but 5% behind the five-year average.
    • Corn maturity continues to fall behind the five-year average and farmers blame it on the delay they saw during planting, especially in northern corn growing regions.
    • Soybean conditions were reported as 72% of the crop in “Good” or “Excellent” condition, unchanged for the past two weeks, but a 22% increase from last year.
  • Favorable Weather Increases Record Corn Crop
    Sep. 11, 2014 CORN, SOYB, WEET 4 Comments

    Summary

    • 2014 average corn yields are estimated at a record 171.7 bushels per acre, an increase of over four bushels from last month, according to the USDA.
    • Domestic soybean production was also increased to an average yield estimated of 46.6 bushels per acre.
    • U.S. wheat ending stocks for 2014/15 were increased to 698 million bushels from 663 million bushels as higher imports are expected from Canada.
  • Corn Exports For The 2013/14 Fail To Reach Expectations
    Sep. 5, 2014 CORN, SOYB, WEET Comment!

    Summary

    • Annual U.S. corn exports for 2013/14 increased 161% year-over-year.
    • The 2013/14 marketing year for soybeans came to a close last week, U.S. soybean exports for the year were reported at 44,477,900 MT, a 23% increase from last year.
    • Wheat sales for the week ending August 28th in the 2014/2015 marketing year were 168,800 MT.
  • Crop Conditions End August At 20-Year Highs
    Sep. 2, 2014 CORN, WEAT, SOYB Comment!

    Summary

    • Fall frost remains the final major threat to corn and soybean crops whose conditions remain at 20-year highs.
    • Corn conditions were estimated by the USDA at 74% in “Good” or “Excellent” condition, a 1% increase from last week and an 8% increase from last year.
    • Soybean conditions were reported as 72% of the crop in “Good” or “Excellent” condition, a 2% increase from last week and an 18% increase from last year.
  • Jack Frost; Last Major Risk To Record Crops
    Sep. 2, 2014 CORN, WEAT, WEET Comment!

    Summary

    • Ideal crop weather continued in the month of August, supporting expectations for a record corn crop weighing on commodity prices.
    • Farmer income is expected to decrease by 13.8% in 2014, the lowest since 2010 due to the second straight bumper corn crop, according to the USDA.
    • At this point in the growth stage, an early frost is the largest, and nearly last, major risk to the crops.
  • Soybean Exports Increase 116% Week Over Week
    Aug. 28, 2014 CORN, WEAT, SOYB Comment!

    Summary

    • U.S. soybean exports increased, eclipsing its 10-week average for only the third time since the end of February.
    • Soybean sales reported a reduction for the second consecutive week.
    • Corn sales also reported a reduction for the second time in three weeks. Wheat sales increased after three weeks of decline.
  • August Weather Supports Crop Conditions
    Aug. 25, 2014 CORN, SOYB, WEAT 1 Comment

    Summary

    • The USDA corn conditions were estimated 73% in “Good” or “Excellent” condition, a 1% increase from last week.
    • Soybean conditions were reported with 70% of the crop in “Good” or “Excellent” condition, a 1% decrease from last week.
    • Spring wheat conditions were reported with 66% of the crop in “Good” or “Excellent” condition, a 2% decrease from last week.
  • Rural Bankers Expect Weaker Farmland Values
    Aug. 25, 2014 DBA, RJA, DAG 2 Comments

    Summary

    • RMI levels are short of where they were last year, but this should be expected with crop prices significantly lower than this time last year.
    • The farmland price index decreased to 41.4 from 48.3, falling to the lowest level since February.
    • The farm equipment sales index decreased to 25.5 from 33.4, a record low for the index.
  • Land Values Increase Steadily Due To Easing Drought Concerns In Great Plains
    Aug. 19, 2014 MOO, WEAT, SOYB 2 Comments

    Summary

    • Double digit year-to-year increases in farmland values were reported in select regions of the Great Plains.
    • The Tenth Federal District estimated that irrigated and nonirrigated crop land increased 6.3% and 6.9% respectively from the second quarter last year.
    • Credit conditions across the District were healthy despite low grain prices.
  • Favorable August Weather Continues To Support Healthy Crops
    Aug. 18, 2014 CORN, SOYB, WEAT 3 Comments

    Summary

    • The USDA corn conditions were estimated 72% in “Good” or “Excellent” condition, a 1% decrease from last week.
    • Soybean conditions were reported with 71% of the crop in “Good” or “Excellent” condition, a 1% increase from last week.
    • Spring wheat conditions were reported with 64% of the crop in “Good” or “Excellent” condition, unchanged from last week.
  • Damaged European Wheat Crop Raises Expected U.S. Wheat Exports For 2014/15
    Aug. 14, 2014 CORN, WEAT, WEET Comment!

    Summary

    • Wheat exports were increased by 25 million bushels for 2014/2015 in Tuesday’s World Agricultural Supply and Demand Estimates released by the USDA.
    • A reduction in weekly corn sales was reported for the first time since the 2012/2013 Marketing year.
    • Exports for soybeans and wheat both increased, while corn exports declined.
  • Record Corn Yield Expected For 2014 Due To Favorable Weather
    Aug. 12, 2014 CORN, WEAT, SOYB 2 Comments

    Summary

    • The USDA expects the 2014 corn crop to average a record 167.4 bushels per acre, although the yield estimate was below what analysts were expecting.
    • Demand for U.S. corn this summer has picked up in the most unlikely place, ethanol.
    • The August WASDE is special in regards to data retrieval as the USDA switches from a weather input model to a survey-based model.
  • Crop Progress: Near Record Conditions Continue To Hold
    Aug. 11, 2014 CORN, WEAT, SOYB 3 Comments

    Summary

    • The USDA corn conditions were estimated 73% in “Good” or “Excellent” condition.
    • Soybean conditions were reported with 70% of the crop in “Good” or “Excellent” condition.
    • The winter wheat crop was reported 95% harvested.
  • USDA Weekly Exports: Soybean Exports Fall To Marketing Year Low
    Aug. 7, 2014 WEET, SOYB, CORN Comment!

    Summary

    • Soybean exports reported a marketing year low, wheat exports fell slightly and corn exports increased.
    • Corn, soybeans, and wheat sales decreased from last week.
    • Growing global tensions have begun to impact global trade as sanctions against Russia increase.
  • Crop Progress: Drier Weather Fails To Significantly Lower Crop Conditions
    Aug. 4, 2014 CORN, SOYB, WEAT Comment!

    Summary

    • The USDA corn conditions were estimated 73% in “Good” or “Excellent” condition, down 2% from last week, but a 9% increase from last year.
    • Soybean conditions were reported with 71% of the crop in “Good” or “Excellent” condition, unchanged from last week, but a 7% increase from last year.
    • The winter wheat crop was reported 90% harvested, up 7% from last week, and 5% ahead of the five-year average.