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  • Thu, Dec. 1, 11:52 AM
    • Markets "are still trying to find a home," for the world surplus, Dave Marshall of Fist Choice Commodities tells Bloomberg. Down 1.4% to $3.97 per bushel, wheat is on track for its sixth straight decline, with the USDA forecasting record world inventories for 2016-17, and U.S. stockpiles at their highest in 29 years.
    • March corn is also down another 1.4% to $3.4375 per bushel.
    • ETFs: CORN, JJG, WEAT, GRU, WEET
    | Thu, Dec. 1, 11:52 AM
  • Wed, Nov. 23, 12:59 PM
    • Corn prices are seen as averaging $3.51 per bushel in Q1, down $0.03 from the previous forecast.
    • Beans are now at $9.75 vs. $10.33 previously.
    • Wheat is seen at $4.25 vs. $4.34.
    • The key price risks, says SocGen, are continued dollar strength (hit a 14-year high today) and potential trade issues with Mexico thanks to the incoming administration.
    • Alongside, the reduced prices, SocGen also sees farmers responding by cutting back on corn and wheat plantings next year.
    • Source: Bloomberg
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Wed, Nov. 23, 12:59 PM | 1 Comment
  • Tue, May 24, 5:04 AM
    | Tue, May 24, 5:04 AM | 11 Comments
  • Thu, Mar. 31, 12:48 PM
    • U.S. farmers plan to sow 93.6M acres of corn this year, up 6.4% from a year ago, the most since 2013, and against expectations for just 89.97M acres. Corn stocks are at 7.808B bushes vs. the trade estimate of 7.801B.
    • Soybean plantings are expected to total 82.2M acres vs. 82.65M a year ago. Wheat planting are pegged at 49.559M acres vs. 54.644M acres a year ago.
    • USDA reports
    • Corn is down 3.7%, while beans and wheat are marginally higher.
    • CORN -4.15%
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    • Now read: CORN: An Attractive ETF Alternative To Cash
    | Thu, Mar. 31, 12:48 PM | 6 Comments
  • Nov. 10, 2015, 12:53 PM
    • The corn production forecast from the USDA is lifted 99M bushels, with the average yield up 1.3 bushels per acre to 169.3 bushels. Projected use is cut 50M bushels. It adds up to stocks of 1.76B bushels vs. trade forecasts for 1.597B.
    • Soybean stocks rise to 465M bushels vs. 436M expected.
    • Wheat stocks rise to 911M bushels vs. 877M expected.
    • Corn, beans, and wheat are all lower by 1.5-2% following the report.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    • Also dinged by lower prices on the farm is Deere (DE -0.9%).
    | Nov. 10, 2015, 12:53 PM | 2 Comments
  • Oct. 16, 2015, 11:51 AM
    • El Nino is arriving ahead of schedule, writes Kevin Ferry, noting the heavy rain and mudslides north of Los Angeles - reports most had not expected to see until early next year.
    • Scientists believe this will be the largest El Nino since 1997/98, with the difference now being there's been no run-up in corn and bean prices ahead of the event.
    • This also has implications for fixed-income, as there's nothing like a series of lock limit-up days in the grains to get the masses chattering about inflation.
    • Out-of-the-money lotto tickets on the grains may be worth a look, concludes Ferry.
    • ETFs: DBA, CORN, JJG, RJA, WEAT, SOYB, DAG, JJA, GRU, AGA, AGF, USAG, WEET, FUD, UAG, TAGS, DIRT, ADZ
    | Oct. 16, 2015, 11:51 AM | 14 Comments
  • Sep. 11, 2015, 12:27 PM
    • The numbers are bearish on their face, with corn ending stocks of 1.592B bushels vs. 1.713B last month and estimates for 1.487B. Crop yield of 167.5 bushels per acres vs. estimates of 165.
    • Soybean stocks of 450M bushels vs. 470M last month and estimates for just 372M. Crop yield of 47.1 bushels per acre vs. estimates of 45.7.
    • Wheat stocks of 875M bushels up from 850M last month and inline with forecasts.
    • Full report
    • Beans and corn initially tumbled on the numbers, but have recovered, with beans off 1% and corn higher by 1%. Wheat is little-changed.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Sep. 11, 2015, 12:27 PM | 1 Comment
  • Aug. 12, 2015, 3:14 PM
    • U.S. corn production is estimated at 13.7B bushels on yields of 168.8 bushels per acre, says the USDA. Trade forecasts were for 13.3M bushels and 164.4 bushels/acre as analysts had priced in a wet early growing season. The USDA last month forecast 13.5B bushels and 166.8 bushels/acre.
    • Soybean production is forecast to be 3.9B bushels on yields of 46.9 bushels per acre versus trade estimates of 3.7B bushels on yields of 44.6 bushels/acre.
    • Stockpile estimates were also above forecast - 1.7B bushels at August's end for corn versus consensus of 1.4B, and 470M bushels for beans versus consensus of 305M.
    • Wheat is also lower after the USDA estimated world inventories at the end of the 2015-16 season at 221.5M metric tons vs. trade at 218.6M.
    • Near-month corn is lower by 4.7%, beans by 6%, and wheat by 2.6%.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Aug. 12, 2015, 3:14 PM | 3 Comments
  • Jun. 30, 2015, 12:16 PM
    • Corn acreage of 88.897M acres, according to the USDA, is lower than trade forecasts for 89.3M acres. June 1 stocks of 4.447M bushels vs. 4.555M forecast.
    • Soybean stocks of 625M bushels vs. 670M expected. Acres of 85.139M vs. 85.171 expected.
    • Wheat stocks of 753M bushels vs. 718M expected. Acres of 56.079M vs. 55.867M expected.
    • Corn and beans are each up about 2% from flat before the report posted. Wheat is up marginally.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Jun. 30, 2015, 12:16 PM | 1 Comment
  • Nov. 10, 2014, 12:14 PM
    • It's lower yields at work, with the USDA now expecting 173.4 bushels per acre vs. 174.2 last month and the trade guess of 175.2.
    • The bean crop is now estimated at 3.958B bushels vs. 3.927B last month and trade's expectation of 3.967B.
    • Wheat ending stocks of 644M bushels compares to last month's 654M.
    • Corn fired, but has quickly fallen back - now up marginally on the session after initially jumping around 2%. In the green earlier, beans are now lower by 1%, and wheat also erases early gains, now flat on the session.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Nov. 10, 2014, 12:14 PM
  • Oct. 10, 2014, 12:20 PM
    • The USDA estimate for this season's corn yield of 174.2 bushels per acre is up from 171.7 bushels one month ago, and compares to trade estimates of 174.7. Production of 14.475B bushels compares to trade estimates of 14.506B bushels. Ending stocks of 2.081B bushels vs. estimate of 2.13B.
    • Soybean yields of 47.1 bushels is up from 46.6 last month, and vs. estimates of 47.6. The crop size of 3.927B bushels stands against estimates of 3.976B, and last month's estimate of 3.913B. Ending stocks of 450M bushels vs. estimate of 472M.
    • Wheat ending stocks of 654M bushels drops from 698M last month and compares to estimates of 704M.
    • Bottom line: Already big corn and bean crops got bigger.
    • Corn and beans are off a few cents, while the price of wheat jumps nearly a dime per bushel on the low stocks estimate.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Oct. 10, 2014, 12:20 PM | 2 Comments
  • Sep. 22, 2014, 2:58 PM
    | Sep. 22, 2014, 2:58 PM
  • Apr. 29, 2014, 7:15 PM
    | Apr. 29, 2014, 7:15 PM
  • Mar. 10, 2014, 12:12 PM
    • World corn stocks of 158.47MMT is higher than last month's estimate of 157.3 and trade expectations of 156.27. Domestic ending stocks, however, are now placed at 1.456B bushels vs. 1.481 last month and trade expectations of 1.488.
    • Domestic bean ending stocks of 145M bushels is down from 150 last month, but ahead of trade expectations for 141. World stocks of 70.64MMT vs. 73.01 previously and forecasts for 71.46.
    • Domestic wheat ending stocks of 558M bushels compares to 558M last month and 570M forecast.
    • Markets are reading the news as bearish, with corn off a nickel, beans down $0.25, and wheat off $0.02
    • CORN -0.25%, SOYB -0.75%, WEAT -1.2%
    • Related ETFs: JJG, GRU, WEET
    | Mar. 10, 2014, 12:12 PM
  • Jan. 10, 2014, 5:08 AM
    • The U.S. Department of Agriculture is expected to lift its estimate today for the 2013 corn harvest (CORN) to 14.05B bushels from a prediction in December of 13.99B bushels.
    • That would make last year's output the largest in U.S. history, surpassing the crop of 13.1B bushels in 2009.
    • If confirmed, the estimates are likely to add pressure to corn prices, which hit a 3 1/2 year low of $4.08 a bushel yesterday before closing at $4.12. That was still down 1.2%, with the decline also due to falling exports. Corn has dropped 2.4% this year after plummeting 40% in 2013.
    • Wheat prices suffered as well yesterday from poor overseas sales, hitting a two-year low of $5.785 a bushel before recovering a bit to close -0.8% at $5.8425.
    • ETFs: DBA, RJA, WEAT, DAG, JJA, AGA, RGRA, AGF, FUD, USAG, DIRT, UAG, WEET, TAGS, ADZ
    | Jan. 10, 2014, 5:08 AM | 1 Comment
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