USDA Report
March 31, 2015 Leave a comment
USDA Report released today at 11am and the reaction was quite the show.
Beans
Beans traveled from -12 back to +12 in less than 5 seconds. The amount of volatility was neat to see. The day started with beans down anticipating an acreage increase. Turned out the opposite sending beans up to 9.81. Bean stocks up 34% from March last year, beans acres up but still a new high.
Corn
Corn started this morning in the green anticipating unchanged acreage or a slight reduction in acres, but the report showed an increase in corn acres sending corn all the way down to a low of $3.79 ½. Corn stocks up 11% from March last year/corn acres higher than expected.
USDA Numbers
USDA Avg Est Last Year
Corn 89.199 88.731 90.597
Soybeans 84.615 85.919 83.701
Greg Mockenhaupt
ProEdge Risk Management Consultant
P: (402) 685-5613 | C: (402) 380-9855 | Greg.Mockenhaupt@cvacoop.com
1007 County Road O
Oakland, NE 68045
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