Tue, Mar. 31, 1:08 PM
- Corn (CORN -4%) inventories of 7.745B bushels as of March 1 are up 10.5% from a year ago and stand against trade estimates for 7.609B. Acres planted drop 1.398M from a year ago.
- Wheat (WEAT -3.5%) stocks of 1.124B bushels are up from 1.057B a year ago and stand against estimates for 1.141B. Acres planted drop 1.648M from a year ago.
- Soybean (SOYB +0.4%) inventories of 1.334B bushels are up from 994M a year ago and stand against estimates for 1.348B. Acres planted gain 934K from a year ago.
- Sources: USDA, Arlan Suderman, Bloomberg
- ETFs: JJG, GRU
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
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
Sep. 19, 2014, 11:12 AM
- It's new contract lows across the board in the grains with Dec. corn -1% to $3.34 per bushel, Dec. wheat -2.2% to $4.77, and Nov. beans -1% to $9.61.
- Related ETFs: CORN -1.2%, WEAT -2.1%, SOYB -1.5%, JJG -1.5%.
- For wheat it's a 4-year low following last week's USDA report estimating a record worldwide harvest of 720M metric tons. The USDA also said wheat exports of 314.5 tons in the week ended Sept. 11 were less than half the previous week.
- The same supply report also predicted record U.S. harvests for both corn and beans.
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
Jan. 10, 2014, 12:25 PM
- Corn (CORN +2.6%) moves sharply higher after the latest USDA projection has corn ending stocks at just 1.631B bushels vs. trade expectations for 1.861B. The agency pegs production at 13.93B bushels - few had expected this number to come in below 14B.
- The wheat (WEAT -4.2%) numbers are more bearish however, with ending stocks of 608M bushels vs. expectations of 557M. Winter wheat seedings, though, are less than expected - 41.892M acres vs. 43.501M.
- Soybean (SOYB +0.1%) ending stocks of 150B bushels are about inline with expectations.
- Related ETFs: JJG, GRU
Sep. 30, 2013, 3:49 PM
- Corn (CORN -2.4%) and Soybeans (SOYB -3.2%) tumble - with corn hitting a 3-year low - after the USDA reports estimated corn stocks of 824M bushels, off 17% from a year ago, but far higher than trade estimates for 687M. Bean stocks are estimated at 141M bushels, also off 17% from a year ago, but 13% above estimates. Stocks still remain low, but these are old crop numbers, and forecasters are looking forward to a big crop this fall.
- Wheat (WEAT -2.7%) stocks of 1.85B bushels were slightly below expectations.
- Lower-than-expected feed usage and export demand were behind the big corn number - high prices had pig farmers substituting corn for wheat.
- Relevant grain ETFs: JJA, RJA, AGF, DBA, FUD, UAG, DAG, AGA, ADZ, JJS, TAGS, USAG, RGRA, JJG, GRU.
Sep. 12, 2013, 1:07 PM
- December Corn slides nearly 3% after the USDA revises upward its estimate for ending stocks to 1.855B bushels from last month's 1.837B. Trade forecasts were for 1.739B. Production is lifted to 13.843B bushels from 13.763B last month and trade estimates of 13.641B. The average yield is expected at 155.3 bushels/acre vs. 123.4 last year.
- Beans go green, however, as the USDA cuts it estimate for yields across the Midwest. The agency sees production at 3.149B bushels and ending stocks of 150M after cutting export demand by 20M bushels. "Leaves trade nervous," tweets Arlan Suderman of Water Street Solutions. "USDA too conservative on demand."
- Wheat's reverses an early loss to go flat even as the USDA revises higher its forecast of ending stocks to 561M bushels from 551M.
- Deere (DE -1.1%) got knee-jerked for a few cents on the news release, but looks to be in the process of bouncing back.
- CORN -2.7%.
- JJG, GRU, SOYB, WEAT.
Aug. 26, 2013, 8:05 AM
- Soybeans lead big gains in the grains after the Pro Farmer tour suggests a harvest lower than the USDA prediction and DTN forecasts more hot, dry weather in the Midwest for the next 7-10 days.
- November beans +3.9%, December corn +3.6%, December wheat +1.5%.
- "The market's increasingly getting a bit nervous about the soybean crop," says an agricultural economist with ANZ.
- ETFs of interest: CORN, SOYB, WEAT. JJG, GRU.
Aug. 12, 2013, 12:26 PM
- The grain pits party after the USDA lowers its corn production estimate to 13.76B bushels - still a whopper of a number, but off from 13.95B in July. Ending stocks are cut to 1.837B bushels.
- Bean production is cut to 3.255B bushels from 3.42B as acres planted are cut 500K and yield is lowered to 1.9 bushels/acre.
- No change is made to the wheat production estimate, but 25M bushels of extra exports cuts ending stocks by the same amount.
- December corn erases a sizable early loss, now up $0.15 to $4.69/bushel. CORN +1.5%.
- SOYB +3.4%, WEAT +0.3%.
- Grain ETFs: JJG +1.8%, GRU +2.5%.
- Other related: JJA, RJA, AGF, DBA, FUD, UAG, DAG, AGA, ADZ, JJS, TAGS, USAG, RGRA.
Jun. 12, 2013, 12:19 PMCorn (CORN -1.8%) gives up early gains and turns sharply lower after the USDA estimates 2013/14 ending stocks of 151.8M tons, above the trade estimate of 149.6M. The USDA cut its yield projection by 1.5 bushels to 156.5 bushels/acre, but lower feed usage and no reduction in planted acreage (despite spring delays) has stocks higher. Tyson (TSN +0.9%) and Pilgrim's Pride (PPC +1.9%) cheer the news. The data was bearish for beans (SOYB -1.8%) as well. Grains ETF (JJG -1.3%). | Comment!
Jan. 11, 2013, 12:13 PMThe inaugural midday release of the USDA's January crop report doesn't disappoint, with corn reversing early losses and now sharply green as Dec. 1 stocks come in at 8.03B bushels vs. expectations of 8.21B. Ending stocks are estimated at a slim 602M bushels vs. expectations of 667M. Beans are down after production came in higher than expected. Wheat jumps on lower-than-anticipated planted acres. | Comment!
Oct. 11, 2012, 9:16 AMGrains soar as the USDA lowers its estimate of corn ending stocks to 619M bushels from 733M in September. The cut comes even as it raises its forecast of harvested acres to 360K. What happens, asks Arlan Suderman, if the USDA is forced to cut harvested acres in its next report? Yikes. Corn +4%, Beans +2.1%, Wheat +1.5%. | 2 Comments
Sep. 28, 2012, 8:56 AMCorn soars 3% as the USDA announces stocks at just 988M bushels, the low end of the expected range. Prior to the report, corn had tumbled about $1/bushel over the past month. Wheat stocks also came in low, suggesting greater-than-expected feed use for both grains. Bean stocks beat expectations after the USDA "finds" another 38M bushels from last year's crop. Wheat +2%, Beans flat. | 1 Comment
Sep. 12, 2012, 8:51 AMCorn tumbles 2% as the USDA lowers its expected crop yield and harvest only marginally from last month's estimates. Also lowered were expected exports - to 1.25B bushels from the already low figure of 1.3B. As a result, new crop ending stocks are now estimated at 733M bushels, up from 650M. | 1 Comment
Aug. 21, 2012, 3:18 PM"For the first time in this rally, there is a feel of commercial panic," says a broker after a 2nd day of the Pro Farmer crop tour adds to worries over the security of physical grain supplies (day 1 report here). "You cannot load soybean futures in a ship and send to China (or) feed to chickens and hogs ... panic is in the physical ownership." Price records are falling everywhere. JJG +2.2%. | 8 Comments
SOYB vs. ETF Alternatives
"The Teucrium Soybean Fund (NYSE: SOYB) provides investors unleveraged direct exposure to soybeans without the need for a futures account. The Teucrium Soybean Fund was also designed to reduce the effects of backwardation and contango. The investment objective of the Fund is to have the daily changes in percentage terms of the Shares’ Net Asset Value (“NAV”) reflect the daily changes in percentage terms of a weighted average of the closing settlement prices for three futures contracts for soybeans (“Soybean Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”). The three Soybean Futures Contracts will be: (1) second-to-expire CBOT Soybean Futures Contract, weighted 35%, (2) the third-to-expire CBOT Soybean Futures Contract, weighted 30%, and (3) the CBOT Soybean Futures Contract expiring in the November following the expiration month of the third-to-expire contract, weighted 35%."
See more details on sponsor's website
See more details on sponsor's website
Other News & PR