In the most recent WASDE report, the USDA confirmed ongoing success in the South American crop, despite January concerns of drought. For quite some time, there was discussion about eroding production levels and declining inventories. That does not seem to be the case any longer. While the USDA did make mild reductions to the forecast, the top five producing countries gave up only 1.3 M...
Learn MoreThe American dairy industry got a lot of mileage out of celebrities posing with a white milk mustache while holding a glass of milk. The caption to the photo always read "Got Milk?" As we all know, we perform better with milk in our diet. In the same way, commodity markets perform better with greater depth. Market depth, measured both in the number of participants as well a...
Learn MoreFebruary weather was been relentless. In many areas across the upper United States, February 2019 will be etched in the record books in regards to both low temperatures and snowfall amounts. Simply put, I am over winter and I don't believe I am alone in that statement. The markets did little to help sooth our cold and weary souls. F...
Learn MoreAs the USDA came back from an extended Christmas break hiatus, several reports have slowly been working their way into public hands. Updated (and long overdue) numbers helped to give us a glimpse of developing trends in the last couple of months. With regard to the WASDE report, one (perhaps the greatest) point of interest was yield. The USDA lowered corn yields by 2.5 bushels an...
Learn MoreWithin the US grain discussion, typically wheat takes a backseat to corn and soybeans; however, as of late it has gained attention from both a fundamental and technical perspective. On February 8th, the USDA announced wheat planted acres were down 1.2 million acres due to excessive precipitation and cool temperatures during the planting window. This provided little support to a market ...
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