Subscribe to The Bottom Line, the weekly newsletter that helps our members stay on top of all the news that affects their bottom line.
Read the latest issue (August 18, 2017)
New episodes every week.
Episode 55: Market Development
Wednesday, August 16, 2017
Harvest 2017 prices as of the close, August 16 are as follows:
SWW @ $182.43/MT ($4.96/bu), HRW @ $189.46/MT ($5.16/bu),
HRS @ $254.49/MT ($6.93/bu), SRW @ $187.11/MT ($5.09/bu).
Monday, August 14, 2017
It has been an uneven growing season in much of the American corn belt. The Western corn belt has been dry especially in the Dakotas, while the mid south and Eastern corn belt were inundated with heavy rains earlier in the spring. The forecast in late July turned cooler and wetter for all of the American corn belt. This new forecast essentially changed much of the outlook for the American crop, but still many analysts were expecting lower August USDA numbers reflecting some of the earlier tough conditions for US corn and soybeans. Anticipation of the August 10th USDA report was filled with expectations of lower yield projections.
Listen to the podcast
On August 10th, the USDA lowered their projected corn yield estimate to 169.5 bushels per acre down from their earlier projection of 170.7 bushels per acre and less than last year's 174.6 bushels per acre. At the same time the USDA raised soybean yield expectations to 49.4 bushels per acre up from their 48 bushels per acre earlier estimate. This pegged 2017/18-soybean production at 4.4 billion bushels. Both of these USDA estimates rocked the grain market August 10th, as it was a big surprise. With so much uneven weather affecting this crop in the field a US corn yield of 165-166 bushels per acre was a general trade estimate. Futures prices plummeted on this very bearish report.
The dynamic Daily Commodity Report allows users to click through up-to-the-minute commodity pricing data.
Check Wheat Cash Bids–check the futures or basis month to view contract information. All quotes are delayed snapshots.
Read weekly and monthly Grain Market Commentary by Grain Farmers of Ontario.
If you are a farmer-member of Grain Farmers of Ontario and would like to get in touch with us, please contact Steve McCabe, Member Relations: 226-979-5581.
For other inquiries, call us toll free: 1-800-265-0550 or click here.