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Did Corn and Soybeans RALLY on Crop Tour News??
Manage episode 435184776 series 2864038
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Futures and options trading involves risk of loss and is not suitable for everyone.
Here's the latest update from the Pro Farmer Crop Tour and more:
🌽 Pro Farmer Crop Tour Findings:
Southeast South Dakota: Corn yield projected at 156.5 bpa, slightly down from last year's 157.4 bpa. Soybean pod counts up 1% from last year. USDA’s projections are more optimistic with a 10 bpa increase in corn and a 3 bpa (7%) rise in soybeans.
Western Ohio: Corn yield at 183.3 bpa, close to last year's 183.9 bpa. Soybean pod counts are down 2% from last year, while USDA projects a 1 bpa (1.7%) increase in soybean yield. Mixed sentiment here—some traders find it friendly for prices, others less clear.
🌾 Corn and Soybean Conditions:
Corn: Rated 67% good to excellent, steady with the previous week and the best rating since 2020. 5% of the crop is mature, ahead of the average.
Soybeans: Rated 68% good to excellent, also the best rating since 2020. 81% of the crop is setting pods, slightly ahead of the average.
🌾 Spring Wheat Harvest: 31% harvested, lagging behind the 36% average. Winter wheat harvest is nearly complete at 96%.
🚂 Canada Rail System Threat: Potential rail strikes by Canadian National Railway and Canadian Pacific Kansas City could halt all freight services on Thursday, impacting grain shipments significantly. A stoppage could result in daily losses of $733 million during harvest season.
📦 US Corn and Soybean Shipments:
Corn: 1.2 mmt (46 million bushels) inspected for export, up 18% from the previous week and 128% from last year.
Soybeans: 398,233 mt (15 million bushels) inspected, up 14% from the prior week and 24% from last year. Flash sales included 332,000 mt (12 million bushels) to China and 110,000 mt (4 million bushels) to unknown destinations.
🌾 USDA Flash Sales:
Soybeans: Multiple flash sales reported, with significant amounts sold to China and unknown destinations for the 2024/2025 marketing year.
Stay tuned for more updates as the Pro Farmer tour continues and the Canadian rail situation develops! 🚜📉
1283 odcinków
Manage episode 435184776 series 2864038
Joe's Premium Subscription: www.standardgrain.com
Grain Markets and Other Stuff Links-
Apple Podcasts
Spotify
Google
TikTok
YouTube
Futures and options trading involves risk of loss and is not suitable for everyone.
Here's the latest update from the Pro Farmer Crop Tour and more:
🌽 Pro Farmer Crop Tour Findings:
Southeast South Dakota: Corn yield projected at 156.5 bpa, slightly down from last year's 157.4 bpa. Soybean pod counts up 1% from last year. USDA’s projections are more optimistic with a 10 bpa increase in corn and a 3 bpa (7%) rise in soybeans.
Western Ohio: Corn yield at 183.3 bpa, close to last year's 183.9 bpa. Soybean pod counts are down 2% from last year, while USDA projects a 1 bpa (1.7%) increase in soybean yield. Mixed sentiment here—some traders find it friendly for prices, others less clear.
🌾 Corn and Soybean Conditions:
Corn: Rated 67% good to excellent, steady with the previous week and the best rating since 2020. 5% of the crop is mature, ahead of the average.
Soybeans: Rated 68% good to excellent, also the best rating since 2020. 81% of the crop is setting pods, slightly ahead of the average.
🌾 Spring Wheat Harvest: 31% harvested, lagging behind the 36% average. Winter wheat harvest is nearly complete at 96%.
🚂 Canada Rail System Threat: Potential rail strikes by Canadian National Railway and Canadian Pacific Kansas City could halt all freight services on Thursday, impacting grain shipments significantly. A stoppage could result in daily losses of $733 million during harvest season.
📦 US Corn and Soybean Shipments:
Corn: 1.2 mmt (46 million bushels) inspected for export, up 18% from the previous week and 128% from last year.
Soybeans: 398,233 mt (15 million bushels) inspected, up 14% from the prior week and 24% from last year. Flash sales included 332,000 mt (12 million bushels) to China and 110,000 mt (4 million bushels) to unknown destinations.
🌾 USDA Flash Sales:
Soybeans: Multiple flash sales reported, with significant amounts sold to China and unknown destinations for the 2024/2025 marketing year.
Stay tuned for more updates as the Pro Farmer tour continues and the Canadian rail situation develops! 🚜📉
1283 odcinków
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