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USDA July Supply Demand

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    #1

    USDA July Supply Demand

    Report is out. Corn yields dropped to 146 bu/acre versus 166 bu/acre. Carryovers
    reduced to 1.2 bln bu. Slashed the demand with feed use down by 10 %. Soybean
    yields pulled to 40.5 bu/acre, down from 43.9 in June. Demand side remains
    strong. Both yield are not survey based. See the first paragraph of the attached
    document. A surprise that USDA was as aggressive in the July estimate. Suspect
    markets will get moved higher this morning but a lot of this news is in the market.
    The demand side is an issue on corn.

    [URL="http://www.usda.gov/oce/commodity/wasde/latest.pdf"]USDA July[/URL]
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    #2
    more upside possible, but a lot of this
    morning info from usda is already in the
    market. watch for a possible pullback very
    soon . . . .

    Comment

      #3
      A bull and a bear in the same sentence.

      Too much partying at the stampede errol?

      Comment

        #4
        Hope you got his name because he will lose his house and his new farm and may be looking for a job.

        Comment

          #5
          Their are two that I rent now that only have
          access through our land. Road is gone to get
          their. Rent negotiating should be fun. I have 7
          years of gps maps on all the land.
          The sad part of all this is the investor might end
          up broke some day. Checking to see what
          companies hold exploration rights for area. No
          minerals on titles all in crown.

          Comment

            #6
            I once asked a guy from BC that was looking for land in our area why he was willing to pay so much. His reasons were they were not making any more land and it is cheap compared to where he came from.

            So I said, if it was worth what you are willing to pay, don't you think I would have bought it before it was on the market.

            Comment

              #7
              It might rain or might not. How's that for a weather forecast.

              Amazing that people get paid to analyze the markets.

              Comment

                #8
                "watch for a pullback very soon" - Seems to me that I heard that when canola was $12.00/bu.

                Comment

                  #9
                  We all like to fight with each but at the end of the day, the market is always. I find 5 minute charts on a day like today a interesting look. I would also be watching volumes and open interest. More people getting into the market or people taking profits/leaving.

                  Comment

                    #10
                    Oops. Let a word out. the market is always right.

                    Comment

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