The Buzz: Another Bearish USDA Report

The Buzz: Another Bearish USDA Report

Government raises forecast for ending stocks all around; beans take the biggest hike.

Traders weren’t expecting USDA’s December crop report to reveal many changes. They were wrong. The agency raised its forecasts for corn, soybeans and wheat ending stocks, sending futures mostly lower. Futures are testing some important support levels that could trigger additional losses if violated. Farm Futures Senior Editor Bryce Knorr and Market Analyst Arlan Suderman go over the report, and news coming from financial markets that could be just as important for your bottom line.

Senior Editor Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

Arlan Suderman is Market Analyst for Farm Futures magazine and FarmFutures.com. He has served on the staff of Farm Progress Cos. since May 2000, providing market analysis and commentary for its family of 18 state and regional publications. His Afternoon Recap provides market analysis on this site each afternoon that the grain trade is open. Suderman also provides real-time market commentary via Twitter at twitter.com/ArlanFF101. Suderman brings a wealth of hands-on experience to the table after completing his Certified Crop Advisor status in 1997 while serving in the Kansas Extension Service.

 

TAGS: USDA Soybean
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