August 12, 2014 | Grain Hedge Insights | Cody Bills | Views: 210

USDA Report Breakdown

Today we discuss the USDA Report and what this means for grain prices moving forward. Tune in for the full report!

August 12, 2014 | Grain Hedge Insights | Cody Bills | Views: 241

Report Day Expectations

Two major USDA reports will be released at 11 AM CST. Here is what you need to know.

Report Day Expectations

Grains are sliding lower into this morning’s USDA report. Corn is down 2, soybeans off 4 and Chicago wheat is down 6 cents. Today’s USDA report will be released at 11:00 AM central time.

This morning’s USDA report will be the first survey based yield estimate of the year. Yield figures will be the focus of the report following a July that saw ample moisture in the eastern grain belt but a return of drought conditions in Nebraska and the Dakotas. Below are trade expectations for the report and our take on the numbers. 

 

2014/15 Corn

July Reported

August Expected

Production (MB) 

13,860

14,253  

Yield (BPA) 

165.3

170.098 

Ending Stocks (MB) 

1,801

2,005  

 

2014/15 Soybeans

July Reported

August Expected

Production (MB) 

3,800

3,823

Yield (MB) 

45.2

45.583

Ending Stocks (MB) 

415

414 

 

Crop conditions were released yesterday at 3 PM CST and showed that the soybean good-to-excellent rating had slipped by one percent to 70%. The expectation for both corn and soybeans was to leave conditions unchanged.  Corn’s good-to-excellent rating met those expectations by maintaining 73% of the crop rated good-to-excellent. Spring wheat conditions were also left unchanged at 70% good-to-excellent. Spring wheat harvest has officially kicked off with 6% of the crop harvested about on pace with the five year average.  

China sold 23% of soybeans offered a state auction overnight. In total, 82,489 tonnes were sold compared to 69,243 in last week’s sale. This was a good signal for mainland Chinese demand, although it is important to note that most of the sales went to food companies who use non-GMO varieties exlusivle. Because of this, Chinese imports should not show a major impact from recent state auctions.

Please call our office if you have questions about speculative or hedge positions coming into the report. Our number is 877-472-4607and we are available between 8AM and 5PM central time.

August 11, 2014 | Grain Hedge Insights | Cody Bills | Views: 184

Talking August Beans and Pre-Report Expectations

Today we discuss the August soybean contract and market expectations coming into tomorrow's USDA report at 11:00 AM central time. Want live mobile quotes for tomorrow's report? Visit us at GrainHedge.com and take a demo this evening and have live quotes fo

August 08, 2014 | Grain Hedge Insights | Cody Bills | Views: 234

Tricky New Crop Basis Environment

​Logan and Cody discuss what was moving soybeans in today's trade as well as the expectations for the two major USDA reports scheduled to be released on Tuesday. Cody discusses spot basis changes throughout the country this week and compares this years ne

August 07, 2014 | Cody Bills | Views: 406
August 04, 2014 | Grain Hedge Insights | Cody Bills | Views: 198

Corn Ratings Drop 2%

Today we discuss crop conditions released after the market close and what helped move grain markets higher.

August 01, 2014 | Grain Hedge Insights | Cody Bills | Views: 307

Soybean Basis Turns Lower on the Week

Soybean basis was off sharply across the country, down nearly 14 cents on average. Today we discuss the cash market for corn and soybeans and what the markets will be focusing on next week.

Soybean Basis Turns Lower on the Week
July 31, 2014 | Grain Hedge Insights | Cody Bills | Views: 273

Strong Weekly Sales for Wheat

Export sales were released this morning with strong sales reported for wheat and soybeans. Today we discuss the export sales report and trade technicals on soybeans.

July 30, 2014 | Grain Hedge Insights | Cody Bills | Views: 325

Will New Russian Sanctions Impact U.S. Grains?

Today we discuss new Russian sanctions levied by the U.S. and European Union, and what impact this may have on the U.S. wheat market. Ethanol production was again strong and this is one balance sheet item that may need to be adjusted in the upcoming market

July 29, 2014 | Grain Hedge Insights | Cody Bills | Views: 281

Soybeans Whipsaw Again

Cody and Logan discuss the latest round of reportable sales as well as the ethanol numbers due out during Wednesdays trading session. Cody talks about soybeans move lower today and gives his perspective on the movement.

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U.S. grain futures slipped lower over night with corn trading down 2 cents, soybeans off 2 cents, and Chicago wheat down 5 cents.This morning’s export sales report showed strong sales for U.S. corn and soybeans while wheat missed expectations. Soybean sales were reported at 1.466 mill...

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