Outlook forum yield estimates right in line with expectations though corn and wheat yields were slightly below the average trade estimate
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Back to ReportsNo big surprises here, the USDA Outlook Forum projects 94 million corn acres which just about what the industry was expecting
It will be interesting to see what numbers come out of the USDA Outlook Forum at 6AM Central. But for the most part, the projections have to be taken with a grain of salt because the track record in terms of accuracy leaves a lot to be desired
April live cattle dropped $1.10 to $194.62½ while April feeders fell 27½ cents to settle in at $273.52½...
Most heavily traded grain contracts at settlement...
Outlook forum projections tomorrow morning bright and early...
May CORN: down 0¾ cents to $4.93½
May SOYBEANS: down 7½ cents to $10.41¼
May WHEAT: down 8 cents to $5.79¾
Ethanol production dipped slightly from the previous week to 318 million gallons and came in at the high end of expectations. 108 million corn bushels were used at a rate of 15.5 mb per day which is well ahead of the 14.83 mb needed each day to meet the USDA forecast
Ag Secretary Rollins has announced a $1 billion plan to combat avian flu. The objective is to dramatically lower egg prices within the next 6 months by making investments in biosecurity and vaccinations. This was her 1st priority upon taking the role as the new head of the USDA
Ride out the storm there will be better days ahead. The murmurings ahead of the outlook forum are having outsized influence on the markets right now. We'll take advantage of the next run up just like we did on this most recent one...
