Note: If you missed the Farm Futures April 7 webinar, register to view a replay of the event at this link.
Join the Farm Futures' marketing team April 7 for a crucial preview of spring grain markets just as planters are set to roll.
With USDA's long-awaited Prospective Plantings and quarterly Grain Stocks report out, key pieces of the price puzzle are falling into place. During the 45-minute free Farm Futures webinar, market analysts Bryce Knorr and Bob Burgdorfer will compare the government's tally with Farm Futures' own survey data, and preview the April 9th World Supply and Demand Report for corn, soybeans and wheat.
Between them, Knorr and Burgdorfer have more than 55 years of experience analyzing and writing about the commodity markets. Knorr directs the magazine's highly regarded research program, preparing detailed forecasts of key commodities every week. Farm Futures' estimates for corn were the most accurate in the industry this winter, predicting reductions in carryout that helped the market carve out a bottom.
Burgdorfer comes to Farm Futures after some 25 years with Reuters, where he covered the grain and livestock markets in Chicago.
Another volatile year
"USDA's April 9 report will incorporate data from its March 31 grain stocks report into its forecasts for old crop ending stocks, which could have significant implications for prices, in what's turning out to be another volatile year," says Knorr.
March 1 stocks data provided clues on how much grain was fed to livestock over the winter, but there are still many questions about how feed usage will play out during the second half of the marketing year. Exports and other sources of domestic usage for all three crops also could change a lot, due to weather and world events, notes Knorr.
"It's crucial for farmers to develop a battle plan before becoming absorbed in planting, because both corn and soybeans have seasonal trends that make selling now successful for many years to come," says Knorr.
Planting intentions set the stage for the growing season, though how many acres actually go in, and how yields fare, depends on weather. Burgdorfer will discuss the forecast for spring planting conditions after an extremely harsh winter, and also take a look at prospects for El Nino. This warming of the equatorial Pacific is associated with drought in Australia, but can bring good growing conditions to the U.S.