Wednesday 22 May 2019

More on plantings in the United States

I will add material as it comes to hand on the following 

"Across the United States, farmers held soybean stocks of 2.716 billion bushels as of March 1, the largest on record for the time period, the USDA said on Friday. Corn stocks were the third-largest on record." 

Is that enough to keep us going till next season?

I found the following comment interesting - 



May, 2019

DES MOINES, Iowa — U.S. corn farmers have the most corn acres left to plant, on this date, than they have ever had and remain behind the trade’s expectations, as well.


In its Crop Progress Report Monday, the USDA pegged U.S. corn planting at 49% complete, behind the 80% five-year average.
The trade expected a completion rating of 53%. On this week of the planting season, the most that U.S. farmers have ever had left was 47% of the crop. In 2019, that amount is 51%, with plenty of rain in the Midwest’s forecast.
As of Sunday, Iowa farmers had 70% of that state’s corn crop planted vs. a 89% five-year average. Illinois farmers have 24% of their corn seeded, behind a 89% five-year average. Indiana has 14% planted vs. a 73% five-year average. In the eastern Corn Belt, Nebraska farmers have 70% of their corn planted vs. a 86% five-year average.
Also, 19% of the U.S. corn has emerged vs. a 49% five-year average.


In its report, the USDA pegged the U.S. soybean planting completion rate at 19% vs. a 47% five-year average.
Iowa has 27% of its soybean crop in the ground, compared with a 55% five-year average. Illinois has 9% of its crop seeded, equal to a week ago and a 51% five-year average. Indiana soybean growers have 6% of their crop in the ground vs. a 43% five-year average.
Also, 5% of the U.S. soybean crop has emerged vs. 17% five-year average.


In its report, the USDA pegged the U.S. winter wheat crop as 66% good/excellent vs. a 64% five-year average

GRAINS-Corn climbs on U.S. planting delays; wheat, soybeans also advance

* Forecasts call for unwanted U.S. Midwest weekend rains
* Soybeans extend rally as U.S.-China trade war fears ease
* Soy rally capped by bearish U.S. crush data
* Wheat higher; drought-hit Australia imports grain

15 May, 2019

 May 15 (Reuters) - U.S. corn futures hit a six-week high on Wednesday on forecasts for worrisome rains in the Midwest crop belt that could signal further planting delays, analysts said. Wheat and soybean futures followed the strength in corn, although gains in soy were capped as traders considered whether seeding delays in corn could prompt farmers to shift acres to soybeans, which can be planted later. As of 12:42 p.m. CDT (1742 GMT), Chicago Board of Trade July corn was up 3-3/4 cents at $3.72-1/2 per bushel after reaching $3.80, its highest since March 29. CBOT July wheat was up 4-1/4 cents at $4.52-3/4 a bushel and July soybeans were up 4 cents at $8.35-1/2 a bushel. Corn posted the biggest advance of the three commodities on a percentage basis as forecasts called for rains to return to the U.S. Corn Belt this weekend and next week, after a few dry days. “There is some planting going on, but it looks like a pretty limited window,” said Dan Cekander, president of DC Analysis. The CBOT July corn contract surged 37 cents this week, from a contract low of $3.43 on Monday to Wednesday’s high of $3.80, as U.S. planting worries prompted funds to unwind a portion of their massive net short position. “We’re a little bit over-extended on some big short-covering,” Cekander said. “But if the (weather) forecast verifies, there is going to be some significant acreage loss.” U.S. farmers seeded 30% of the U.S. 2019 corn crop by Sunday, the government said, lagging the five-year average of 66%. The soybean crop was 9% planted, behind the five-year average of 29%. CBOT soybeans extended their rally from Tuesday, after U.S. President Donald Trump eased concerns about a U.S.-China tariff war. But bearish monthly soy crushing data hung over the market, capping gains. The National Oilseed Processors Association said its U.S. members crushed 159.99 million bushels of soybeans in April, down from 170.0 million in March and below an average of analyst expectations for 161.6 million.

Also, China’s sow herd fell by 22.3% in April from a year earlier, the Ministry of Agriculture and Rural Affairs said, underscoring the effects of an epidemic of incurable African swine fever. The decrease in China’s hog herd, the world’s largest, suggests a drop in global demand for soy-based animal feed. Wheat drew support from news that drought-hit Australia will import its first shipment of wheat in more than a decade, from Canada.

CBOT prices as of 12:37 p.m. CDT (1737 GMT):

Net Pct Volume
Last change change
CBOT wheat WN9 453.25 4.75 1.1 71691CBOT corn CN9 373.75 5.00 1.4 277149CBOT soybeans SN9 836.50 5.00 0.6 152831CBOT soymeal SMN9 300.30 2.30 0.8 59086CBOT soyoil BON9 27.28 0.28 1.0 51240

NOTE: CBOT July wheat, corn and soybeans shown in cents per bushel, July soymeal in dollars per short ton and July soyoil in cents per lb.


No comments:

Post a Comment

Note: only a member of this blog may post a comment.