🇺🇸Analysts see output for U.S. #corn & #soybeans down from last month's estimates, though expected yield losses are somewhat offset by higher acreages. In my opinion, these projected acreage increases are much less extreme than the trade's reaction to August FSA data had implied.
Not impressed with #corn after 6 stops in west central Iowa (Harrison/Crawford County area). Average 171 bu/acre. Last year was 201 and two years ago 218 through this same stretch. Ears are kinda short. #pftour23
#pftour23 finds strong potential in Indiana #soybeans with pod counts nearly matching the 2018 tour’s high. #Corn results could suggest hesitation on USDA’s record yield forecast (tour found 193.5 bu/acre in 2021, Indiana’s record corn yielding year).
Root Zone Soil Moisture 2023 v 2012. One can draw their own conclusions here but 181.5 & 52.0 at this point is laughable consider their own G/E at this point. Personally, USDA is too high. If it’s going to be hot & dry now is the time, not 4-5 wks from now.
The problem… the Brazilian producer. Their presents in the world corn trade since 2012 has change dramatically. They also don’t have the storage capacity like the avg US producer. They are forced sellers on rallies with a record crop backing their sells. This will essentially somewhat keep a lid on prices IMO unless the issue the US faces (wx wise) drastically worsens over the next 4-6 wks during reproductive stages, at least on corn. #Brazil #soybeans #corn
@LouieDN Oh good. The highest price on that map is pointing to my back yard. Great if you own a pile of acres, not great if you’re young and wanting to buy a pile of acres.
🇺🇸U.S. #corn planting progress as of April 16 is seen at 10% complete with a range of 6% to 17% - if realized that would be 6th fastest for the date on record.
For context, April 16:
5-year avg: 5%
2022: 4%
Four fastest years since 1980:
2012: 19%
2004: 16%
2010: 14%
2016: 12%
Nice little bump in the Mississippi River water levels at St. Louis after the recent rain event. Downriver levels are still concerning (Memphis shown), but upcoming rains could provide relief. Most of this moisture is expected over the weekend.
A missile struck a Cargill-owned vessel Thursday as it left a #Ukraine port. The crew is safe, though the Odessa port is now closed. ADM and Bunge have also reported suspending activity at Ukrainian ports and crush plants.
https://t.co/RP95w2VY0y