Markets Articles
Minor Spring Wheat Basis Updates Seen in Northern Plains
Published July 18, 2021
Basis bids at the six regional grain elevators followed by the Red River Farm Network had minor changes in the spring wheat basis. Basis bids range from 10 cents to 55 cents under the September futures contract. Corn basis is…Spring Wheat Abandonment Expected
Published July 18, 2021
Drought is taking a toll on the Northern Plains spring wheat crop. USDA lowered their production estimate in the July WASDE report. Advance Trading market analyst Brian Basting agrees with the USDA. "When we ran our models, based on crop…Tracking the Drought and Beef Cow Slaughter
Published July 16, 2021
During the second quarter, beef cow slaughter totaled 891,000 head. That’s 17 percent higher than one year ago and 12 percent higher than 2019. The biggest increase was seen in the Texas/Oklahoma area. In the region that includes North Dakota…Monitoring the Oats Market
Published July 14, 2021
Analysts suggest oats may be able to test the 2013 highs of $5 per bushel. Supplies are tightening because of the droughty conditions in the Northern Plains and Canada. In the latest supply/demand report, USDA forecast the U.S. oat crop…Weather Market Continues as Corn Enters Into Pollination
Published July 13, 2021
Grain traders continue to watch the weather forecast. "The short-term weather is the corn story and the long-term weather forecast is the soybean story," explains Ted Seifried, chief market strategist, Zaner Ag Hedge. "There's slight nuances of when the moisture…HRSW Abandonment Likely to Exceed USDA Estimates
Published July 13, 2021
USDA is forecasting spring wheat production at 345 million bushels. That’s down 41 percent from last year and would be the smallest spring wheat crop in more than 30 years. At this point, USDA is estimating an abandonment rate of…Northern Plains Spring Wheat Continues to Struggle
Published July 12, 2021
Spring wheat conditions are tough in the Northern Plains. USDA acknowledged that in the weekly crop condition and July WASDE reports. The Money Farm market analyst Luke Swenson thinks the majority of spring wheat harvest will be complete in the…USDA Lowers Spring Wheat Production
Published July 12, 2021
Stone X Group Chief Commodities Economist Arlan Suderman was expecting the USDA’s spring wheat production estimates to be low, but then, the USDA went lower. "I had one of the lowest trade guesses for wheat at 358 million bushels and…Grain Stocks Surprise Traders in the July WASDE Report
Published July 12, 2021
Most of the July WASDE report was as grain traders expected. Allendale Chief Market Strategist Rich Nelson says the grain stocks were the big story and offered a surprise. "We were watching the new crop corn exports, which the USDA…