USDA Report today!

[SASKFARMER3]

USDA's new-crop corn numbers did not disappoint the trade, with yields and production even lower than pre-report expectations, which were considered bullish.
Corn was on center stage, coming in at a yield of 153 bushels an acre, 2 bushels an acre below the average trade estimate and only a touch above last year's weather-reduced yield of 152.8 bpa.
The estimated soybean yield, at 41.4 bpa, is down from 43.5 bpa last year and below average trade expectations for 42.8 bpa. Production, at 3.06 billion bushels, also is below trade guesses of 3.19 billion and is down from 3.33 billion last year.


Most of USDA's wheat production numbers are slightly below trade estimates as well: The agency pegged all wheat production at 2.08 billion bushels; spring, 522 million, and durum 57 million, all below pre-report averages. Only winter wheat came in slightly above expectations, at 1.498 vs. 1.491 billion.

So it looks like the grain trade will stay interesting for a while.
Oh wait we live in Canada where the trade will say we have a huge Canola crop this year so cant compare us to the Soy price.

Thanks for Growing Wall to Wall Canola Farmers. Dah!

[SASKFARMER3]

One thing for farmers out scouting fields.
Bugs in Canola. Yea very few but white moths are not the problem!
HRS in our area has a bunch of stools making it and are now heading. If it freezes in early September before desiccation these will be frozen kernels in #1 Hrs and again the CGC will discount your beautiful wheat for feed.

[crusher]

I took note of the bean oil ending stocks.
09/10 - 3.406
10/11 - 2.816
11/12(est) - 1.971

That trend should be supportive for canola prices.

Ugh, how I hate the final 15 minutes, canola tanked right at the close just like last week.