The Buzz: USDA Data Helps and Hurts

The Buzz: USDA Data Helps and Hurts

Old crop USDA inventories are bullish but big acres all around hurt new crop prices.

July corn and soybeans posted good rallies today, reflecting tight old crop supplies reported by USDA in its quarterly stocks report. But the agency’s estimates of new crop acreage was bearish, with plantings higher than expected for corn, soybeans and wheat. New crop prices plunged as a result. Senior Editor Bryce Knorr and Market Analyst Paul Burgener sift through the numbers for their impact on your farm.

PLANTING SUCCESS? USDA says farmers planted most corn since 1936, which didn't bode well for the trade even with tight old crop stocks.

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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