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USDA 'Report Day' wrap-up

Jeff Caldwell 03/31/2011 @ 2:46pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

The corn market closed locked 'limit up' on the CME Group Thursday, with the morning's USDA Planting Intentions and quarterly Grain Stocks reports providing all of the support for the commodities.

And, it's not just the grains: Thursday also saw big jumps in ag stocks, with machinery, fertilizer and ag chemical companies seeing big single-day gains by the close of Thursday's session.

Now, though traders expect the grains to trade on Thursday's USDA numbers through at least the week's end, it won't take long for the focus to shift back to Mother Nature: It's super-dry in the southwest and Plains, where the winter wheat's starting to come out of dormancy. And, the snowpack's still thick in the Dakotas, where USDA expects major corn crop size growth. Meanwhile, the weather really needs to cooperate in the Delta and mid-South, where farmers are just getting underway with planting.

So, where do the markets go from here? See what analysts think of Thursday's numbers and how farmers are reacting, both in their marketing strategies and spring planting plans.


 

 

 


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