Other News

USDA blew the cobwebs off its calculators and forecast a 14.8 billion bushel corn crop for 2012, helped by a 5.1 million acre increase in corn and a record 166 bushel yield average.  With increased demand for corn all around, there will still be a 1.9 billion bushel carryout at the end of the...
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USDA releases its May Supply and Demand report on Thursday, which is the Department’s initial assessment of U.S. and world crop supply and demand prospects and U.S. prices for the 2012/13 marketing year. It will also present the first calendar-year 2013 projections of U.S. livestock, poultry, and dairy products.  The market has been anticipating...
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Wily three-headed monsters lived in caves of Greek and Roman mythology, but the three personalities of the corn market live in the trading pits at the CME, and have been about as challenging to conquer.  New crop futures, old crop futures, and the basis for cash corn each have a mind of their own,...
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• Corn prices. Tight stocks of corn are beginning to have a substantial impact on the market.  Toward the end of the week, May corn going into delivery was trading 36¢ over July futures before spread traders began to take profits.  At the end of the week a major processor at Decatur, IL was...
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As Congress and agriculture prepare for a new Farm Bill, it appears the primary safety net will be the crop insurance program.  Twenty years ago, only 20% of farmers used it, but today only 20% are not using it, which is a function of greater opportunities for indemnity payments.  But in the wake of...
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The old saying that lightning never strikes twice in the same place has been disproven by the beef market which has been reeling from lightning strikes, first by lean, finely-textured beef, and more recently by the discovery of a cow with bovine spongiform encephalopathy (BSE).  The market has declined from $129 per cwt to...
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Since the development of futures contracts for buying and selling farm commodities began in 1848—there have been several significant changes at the Chicago Board of Trade.  And one that was announced yesterday is among a handful with the greatest impact. The new development expands the trading day to 22 hours.  It begins at 6 p.m....
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Since the development of futures contracts for buying and selling farm commodities began in 1848—there have been several significant changes at the Chicago Board of Trade.  And one that was announced yesterday is among a handful with the greatest impact. The new development expands the trading day to 22 hours.  It begins at 6 p.m....
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Want to make money? I’ve got a great investment opportunity for you! Don’t worry about the details--just give me your money and you’ll profit. Ignore the fact that 97% of financial investors disagree with my plan. My intuition tells me that this is a safe bet. Most rational people would hesitate to trust me with...
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