USDA Report at 11:

[SASKFARMER3]

Its a very big day like BTO had pointed out.
USDA is out at 11 with a very powerful report. This sets the stage for either DOWN DOWN DOWN. Or up.
My thought is Corn acres will be up in normal corn growing country. Why not grow corn it gives the best return and Americans love to grow corn.
Soy acreage is at the high side and I think will increase in size in more non traditional areas. ND MONT.
Sorghum will be up also.
Winter wheat is in life 3 left but one rain and it will not be grazed out and reseeded but used.
We are dropping Soy this year because of costs and experimenting in a tight year just doesn't work. Maybe back to 40 acres that's it.
So it could get explosive this morning Lets watch and evaluate.

[bigzee]

I have 15k bu canola for -8 in May left to sell thinking it "may" be a day to sell. I wanted futures to hit 470-475 but if today goes bad it won't get there. I've sold some in the 465 range so not to bad. My gut tells me it's not going to be a pretty day.

[farmaholic]

And how far away are we from new-crop supplies being available? Nuts...

Its not like some "factory" that knows for certain what their output will be. This is farming for crying out loud. Ya, that's why I chose farming... for the guarantees and the certainty of it... give me a break...preseeding crop reports.

[bigzee]

High cost of fert and seed has so much to do with this report IMO!!! Its no different in Canada we all want to seed the lower input crops which will flood the market and depress prices. The same will happen with beans if this report shows a big jump in acres.

[Oliver88]

Sask 3, I believe the report is 10am SK time.

[SASKFARMER3]

Your correct time change issue I didn't do math right

[Oliver88]

http://www.usda.gov/nass/PUBS/TODAYRPT/pspl0315.txt



Crop Comments

Corn: Growers intend to plant 89.2 million acres of corn for all purposes in
2015, down 2 percent from last year and down 6 percent from 2013. If
realized, this will be the lowest planted acreage in the United States since
2010. The reduction in planted acres is mainly due to the expectation of
lower prices and returns in 2015.
Planted acreage for 2015 is expected to be down across most of the Corn Belt
with the exceptions being Minnesota and Wisconsin, which are both expecting
an increase in planted acreage from last year. Acreage in Nebraska is
expected to be unchanged from 2014.

Oats: Area seeded to oats for the 2015 crop year is expected to total
2.93 million acres, up 8 percent from 2014. If realized, United States
planted acres will be the fourth lowest on record. Record low planted acreage
is estimated in Oregon, Texas, and Wyoming.

Barley: Producers intend to seed 3.26 million acres of barley for the
2015 crop year, up 10 percent from the previous year. If realized, this will
be the fourth smallest seeded area on record. Record low acreage is expected
in California, New York, and Utah.

Winter wheat: The 2015 winter wheat planted area is estimated at 40.8 million
acres, down 4 percent from 2014 but up less than 1 percent from the previous
estimate. States with notable acreage increases from the previous estimate
were Missouri, Montana, and Oklahoma, while notable decreases occurred in
Nebraska and North Dakota. If realized, a new record low would be set in
Utah. Of the total acreage, about 29.6 million acres are Hard Red Winter,
7.75 million acres are Soft Red Winter, and 3.43 million acres are White
Winter.

Durum wheat: Area seeded to Durum wheat for 2015 is estimated at 1.65 million
acres, up 18 percent from 2014. Planted acreage is expected to increase in
all states except Idaho. If realized, planted acres will be a record low in
Idaho.

Other spring wheat: Growers intend to plant 13.0 million acres, down slightly
from 2014. Of the total, about 12.1 million acres are Hard Red Spring wheat.
Compared with last year, acreage increases are expected in the
Pacific Northwest, as well as Minnesota and North Dakota. Decreases are
expected in Montana, Nevada, and Utah. If realized, planted acres will be a
record low in Utah.


Soybeans: Growers intend to plant a record high 84.6 million acres in 2015,
up 1 percent from last year. Compared with last year, planted acreage
intentions are up or unchanged in 21 of the 31 major producing States.
Increases of 200,000 acres or more are anticipated in Arkansas, Iowa, and
Ohio. Compared with last year, the largest declines are expected in Kansas
and Nebraska. If realized, the planted area in Kentucky, Minnesota, New York,
Ohio, Pennsylvania, South Dakota, and Wisconsin will be the largest on
record.

[Oliver88]

Canola: Producers intend to plant 1.55 million acres in 2015, down 9 percent
from 2014. If realized, planted area in the United States will be the fourth
largest on record. Compared with last year, planted area is expected to
decrease in five of the seven major canola-producing States, with acreage in
Oklahoma, Oregon, and Washington expected to decrease more than 40 percent
from the previous year. Producers in North Dakota, the leading
canola-producing State, intend to remain at last year's level of
1.20 million acres.

[boarderbloke]

The "heads up" in that report is intended Durum acres! Watch out for that one.

Thanks for posting Oliver88

[boarderbloke]

Minneapolis and Kansas wheat getting hammered.

they probably haven't heard this news breaking today,

[URL="http://in.reuters.com/article/2015/03/31/india-wheat-australia-idINL3N0WX1TA20150331"]India in biggest wheat import deals since 2010 as rains damage wheat crop[/URL]

[Oliver88]

Boomberg Summary

http://www.bloomberg.com/news/articles/2015-03-31/u-s-corn-supplies-top-analyst-forecasts-usda-data-show

(Bloomberg) -- U.S. corn inventories on March 1 jumped more than forecast to the highest level since 1987, adding to prospects for ample supplies that have eroded prices the past 12 months, a government report showed.

Farms and warehouses held 7.745 billion bushels of corn to start this month, up 10.5 percent from 7.008 billion a year earlier, the U.S. Department of Agriculture said Tuesday in a report after surveying grain companies and farmers. The average estimate of 30 analysts in a Bloomberg survey was 7.609 billion.

Bigger global grain and oilseed supplies have helped drive world food costs to the lowest since 2010, with the Bloomberg Grains Subindex dropping more than 25 percent in the past year. A glut of corn, used in everything from animal feeds to alternative fuels, may signal lower costs for meat producers including Tyson Foods Inc. and for makers of sweeteners and ethanol such as Archer-Daniels-Midland Co.

Corn futures have tumbled about 20 percent in the past year on the Chicago Board of Trade, closing Monday at $3.945 a bushel after farmers produced two consecutive years of record crops. The United Nation’s food index declined in February to the lowest since July 2010 amid bumper global harvests of wheat, corn and soybeans.

Corn supplies held by farmers on March 1 were 57 percent of the total, up from 55 percent a year ago, USDA data show. Total disappearance in the three months ended March 1 rose to 3.47 billion bushels from 3.44 billion a year earlier.

U.S. soybean inventories on March 1 were pegged at 1.334 billion bushels, up from 994 million a year earlier and below the 1.348 billion bushels expected by analysts.

U.S. inventories of all classes of wheat on March 1 rose to 1.124 billion bushels from 1.057 billion a year earlier, the department said. Analysts expected 1.141 billion, on average.

[farmaholic]

No breadwinner, its just a stupid speculative report that means nothing in production aspects, see my above post. Bullshit reports..... is the seed in the ground, in a timely manner, is the weather helping or hindering during the growing season, harvest volumes....quality aspects.... too many unanswered questions to let an "intention" report hold much weight in my opinion. But hey, uneducated. How else does functioning market work without speculation? Obviously speculation isn't enough in Canada, no volume to speculate on... what a ****ing joke.

[kato]

Love it! But the cow didn't poop on his neck. That's supposed to happen. Lol

[perfecho]

Gotta love Rick Mercer... ;-)

[sumdumguy]

Good one! Now that we learned about a hook book, we can write country songs and retire in Nashville. Easy-peasy!