Traders were expected bullish data from Tuesday’s monthly supply and demand report from USDA. Once again the agency threw traders a curve ball, especially for corn. Instead of lowering its forecast for 2011 crop ending stocks, due to stronger than expected December-February feed usage, the government said new crop wheat and early harvested 2012 crop corn would provide a cushion this summer. With carryout unchanged, corn broke lower, and losses were amplified by weak outside markets. Senior Editor Bryce Knorr and Market Analyst Arlan Suderman go over the details.
Just click on the video link in this file to learn more.
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.
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.