Ag Market Update from Pinion

Mitch Duer here with Pinion a division of KCoe Isom. Over the past few weeks, corn and soybeans have moved to new highs on South American weather, China buying and concern on our domestic weather. On March 12, the USDA released their main crop production and supply and demand report. And these times of extreme volatility and high prices we are experiencing the USDA reports have had everyone on their toes. All crop any stocks for corn came at 1.25 7 billion bushels, which was in line with the analysts' estimate of 1.275 and down from the April report of 1.35 2 billion bushels.

 

This was the first time that USDA released numbers on the 2122 crop and take corn at 1.50 7 billion bushels.

 

On the soybean side USDA printed an old crop number 120 million bushels, which was the same as the April report and new crop number of 140 million bushels. Stocks continue to stay tight and we continue to see soar being prices rise trying to buy acres.

 

The wheat numbers are right in line with all the analysts estimates but we continue to see wheat make its way into the feed channel and we'll start to tighten supplies.

 

In the livestock sector book the live and feeder cattle futures found a bottom and have bounced back. feeders continue to watch corn closely in the live cash cattle market continues to struggle as well. If you would like to talk about your grain livestock marketing plan, give us a call at 888-452-8751 Mitch Duer with Pinion a division of KCoe Isom.