Old Crop Grain Futures Still Smokin'

Old Crop Grain Futures Still Smokin'

Tight carryout for corn and soybeans could be feature of today's USDA reports. (Audio)

Fireworks in the grain futures trade this week come from two sources: Dwindling stocks of old crop corn and soybeans and threatening weather forecasts for new crop production. This morning’s USDA production, supply and demand report for July, due out at 11 a.m. Chicago time, likely won’t make much in the way of changes to the size of 2013 corn and soybean crops, keeping them at record levels. But strong demand for remaining old crop supplies could force further reductions to already tight supplies of 2012 stocks.

PULLING IN OLD CROP: Bins that held old-crop corn and soybeans are likely empty these days, driving up futures.

Farm Futures Senior Editor Bryce Knorr talks markets with Kelsey Ostby, sitting in for Pam Jahnke at the Wisconsin Farm Report. Listen to their conversation using the audio player on this page.

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. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin.  Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back.  Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

Looking for ways to maximize corn yield? We have a new free report - Maximize Corn Yield Potential - just updated for the 2013 season. The 32-page report offers a range of insight into ways you can put more bushels in the bin.

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