Grain Report

8/14/14 @ 8:17am

• With the monthly Supply and Demand numbers revealed on 11/12/14, corn closed 1-2c higher and beans -14c on that day.  But not before a substantial reaction dropping corn -9 and beans -28.  Often times the market trade volume increases and causes a substantial move at least for a short while.  These report days represent substantial opportunities for hedgers.
• The quick summary below shows the projected corn yield below market expectations and soybean carryout above the average market estimates.   While the yield estimates fell a bit short of estimate, however showing an increase from USDA’s July report.

• As of this writing this morning corn is even @3.58 and beans are +1 @ 10.47
• The feel in the market is still that a large crop is out there.   The USDA has a tendency to stair step into large crops meaning in future reports the yield estimates could continue to grow.   This week may be a great time for farmers to clean up any remaining old crop and get more coverage on the books for the coming crop years.

For more information, contact Greg Mockenhaupt at CVA East Hub.