The Buzz: Latest USDA 'Surprise' Helps Corn Prices

The Buzz: Latest USDA 'Surprise' Helps Corn Prices

USDA's carryout estimates were lower than expected, but only corn reaped benefit from the newest numbers.

After the bearish grain inventory numbers out at the end of last month hammered prices, traders were wary of hoping for much from today’s USDA report. The government’s forecast of carryout for corn, soybeans and wheat were tighter than expected. But that news wasn’t enough to produce sharply higher prices, with only corn benefiting much. Market Analyst Paul Burgener and Senior Editor Bryce Knorr go over the details.

USDA’s carryout estimates were lower than expected, but only corn reaped benefit from the newest numbers.

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.

Market Analyst Paul Burgener is a new addition to the Farm Futures team but has a solid ag economics history. A former University of Nebraska research coordinator and ag economist from the University of Wyoming, Burgener brings a lot of background to his new role. Most recently, he was also involved in agricultural finance, and will offer that perspective in future articles on the Web and in print too.

The Buzz is a weekly video feature where the Farm Futures team takes a more in-depth look at key topics impacting the markets. It is often updated on farm market report days as well. 

TAGS: USDA
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