The Buzz: USDA Data Hammers Beans, Helps HRW

The Buzz: USDA Data Hammers Beans, Helps HRW

Surprise increase in 2012 soybean production eases tight carryover stocks, feed use pushes winter wheat up.

USDA issued its scheduled reports on Monday, and the data mostly was bearish for grain futures. Soybeans suffered from a surprise increase in the size of 2012 production, with weekly ratings also showing improving conditions for the 2013 crop. USDA’s only bullish moment came for hard red winter wheat, which helped Kanas City futures buck a widespread selling trend. Market Analyst Paul Burgener and Senior Editor Bryce Knorr discuss the reports, and what a government shutdown might mean for agriculture.

REPORT SURPRISE: Bearish data brings bearish results.

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 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 from USDA reports to weather trends. It is often updated on farm market report days as well.

TAGS: USDA Soybean
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