USDA Stocks/Acreage Estimate Day

[charliep]

Today is a USDA report day. I will let Moe/others comment. The biggest factor for me is the bigger than expected US soybean acreage. Lots of market ahead in July and August but the market early reaction is negative.

[URL="http://usda.mannlib.cornell.edu/usda/current/GraiStoc/GraiStoc-06-30-2014.pdf"]Stocks[/URL]

<a href="http://usda.mannlib.cornell.edu/usda/current/Acre/Acre-06-30-2014.pdf">Acreage</a>

[farmaholic]

Nov Canola down about 10 bucks July up about 6 bucks. Ask your terminal which month they're trading off.

[charliep]

I suspect basis will tighten. Canola is moving and companies will have to keep prices above farmer targets of something over $10/bu to generate deliveries. Until there is more certainty in the 2014 canola crop, I suspect you guys will be a lot more patient marketers.

Just curious if there are any long standing canola contracts from this past winter/early spring that haven't been picked up. Movement has increased in the past 3 months.

[bucket]

Charliep

One certainty about the 2014 canola crop is that it is NOT getting larger.

[agstar77]

The best of both worlds poor crop poor prices.

[bucket]

Agstarr

In my learning of how to win friends and influence people let's think positive - poor crops cure poor prices.

[agstar77]

There are always opportunities . India is very dry, biggest rice producer. Of course the next big weather or geopolitical event could change things. We do need a dose of reality after several good years, too bring rents and land prices too slow down.

[checking]

Excellent idea. We should grow rice.

[JerwinalynH]

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