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Big-time Crop Weather Shift || Major USDA Data On The Way
A sea change in crop weather & moisture conditions, big upcoming USDA reports & new farm business analysis are big in ag this week. What's going on on your farm these days? Start or join the latest chat now!
This week started out with a surplus of moisture in much of the nation's center, including some areas where the drought's ravaged crop conditions in the last 2 years. Some spots saw in excess of 7 inches of rain heading into the week, and in wheat country, that's causing some angst as harvest rolls north.
A big story this week's not happening until next week, but the anticipation's mounting for USDA's big Acreage and Grain Stocks data due out next Monday. How do you think the market will react?
"The acreage forecasts should have more important price implications than the stocks estimate since soybean consumption is mostly already known," says one economist this week. "While the acreage estimate may be more important, there is more to say about the stocks estimate." Why? Find out!
The prices that result partially from those upcoming USDA reports could swing widely the remainder of this summer, and that volatility could open a much wider window in grain farm income potential, one expert says. So, what price point does corn need to hit to keep your farm out of the red?
Beyond the grain market, how else can you keep your farm's bottom line intact? One expert said in a report this week there are ways to re-evaluate your machinery spending and needs to get the most out of your iron at the lowest possible cost. Are you getting the most bang for your machinery buck?
That's not all the bullish hope; one analyst said this week that even if USDA pegs stocks higher than earlier estimates, timing's good for a bull run.. "Pro Ag remains bearish grains, especially corn and soybeans, as we enter the critical July 4 time frame for crop development," says analyst Ray Grabanski. Do you agree?
Though winter wheat farmers are busy getting this year's crop harvested in the Plains, it's not too early to start planning ahead for next year. Seed wheat supplies -- namely for certified seed -- are in short supply in key Wheat Belt states, and that's likely to continue. Are you planning ahead for a potential shortage?
Wetter weather, crop acreage outlooks are just a couple big stories you need to know in ag this week.