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Market rewards bullish report

CHICAGO, Illinois (Agriculture.com)--The USDA's bullish August Crop Production and Supply/Demand Reports Thursday helped the CME Group farm markets close sharply higher Thursday.

The Dec. corn futures contract settled 25 1/2 cents higher at $7.14. The Nov. soybean contract ended 30 1/4 cents higher at $13.31 3/4. The Sep. wheat futures closed 16 1/4 cents higher at $7.01 1/4. The Sep. soybean meal futures contract closed $8.10 per short ton higher at $353.70 and Dec. soyoil futures ended $0.98 higher at $54.58.

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USDA releases bullish data

CHICAGO, Illinois (Agriculture.com)--The U.S. 2011 corn and soybeans crops may be getting smaller, according to the USDA estimates Thursday. 

In its August Crop Production and Supply/Demand Reports Thursday the USDA released bullish data for the farm markets, CME Group traders say.

Early calls for the commodities are higher. Corn is called anywhere between 10-15 cents higher to 'limit up'. Soybeans are called 10-20 cents higher and wheat 15-20 cents higher.

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An ear full (of corn)

CHICAGO, Illinois (Agriculture.com)--As August approaches, U.S. farmers and their crop consultants turn their attention from corn's pollinating development stage to how well the corn kernels grow on the cob.

The U.S. corn and soybean crops suffered setbacks in this week's crop condition report. Some believe the extreme Midwest July heat has robbed the crop of its 'top' yielding potential. This is raising concern about how the next growth stage, 'ear-fill', will occur in the coming weeks.

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How long will USDA data be traded?

CHICAGO, Illinois (Agriculture.com)--In any given month, the big question for market participants is how long will the fresh USDA data be traded once it's released.

On Thursday, the USDA will release the most critical data of the summer. At exactly 7:30am CDT, the June Acreage and Quarterly Stocks Reports will be unveiled. From that point forward, the market's job is to digest the numbers and react accordingly. Most people go back-and-forth as to whether the numbers are higher, lower or equal to the trade's expectations.

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USDA releases bearish data

CHICAGO, Illinois (Agriculture.com)--The U.S. farmers planted a lot more corn acres in 2011 than the trade expected, according to the USDA Thursday. In its June Acreage and Quarterly Grain Stocks Reports, the government released very bearish data.

The Early Calls for commodities for Thursday's trade are as follows: Corn 30 cents (daily limit) lower, soybeans 20-25 cents lower, and wheat to follow, according to the CME Group floor traders.

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Lifespan of USDA numbers debated

CHICAGO, Illinois (Agriculture.com)--In any given month, the big question for market participants is how long will the fresh USDA data be traded once it's released.

On Thursday, the USDA will release the most critical data of the summer. At exactly 7:30am CDT, the June Acreage and Quarterly Stocks Reports will be unveiled. From that point forward, the market's job is to digest the numbers and react accordingly. Most people go back-and-forth as to whether the numbers are higher, lower or equal to the trade's expectations. 

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Bullish USDA corn report, traders say

The USDA released bullish data Thursday, pushing down U.S. corn supplies.

Early calls for the commodities are called 15-20 cents higher on corn, soybeans are seen opening mixed-to-lower, and 3-5 cents higher for wheat, CME Group floor traders say.

"It looks like corn is the only one with the problem in this report," one CME Group floor trader says. "Corn pushes up everything else today."

Old-Crop Ending Stocks

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Got corn? You're golden

CHICAGO, Illinois (Agriculture.com)--Already sold out of the majority of old-crop corn, Midwest farmers face a dilemma of marketing portions of this year's crop that is being planted late with threatened production potential.

Though farmers in western Corn Belt states are nearing completion of corn planting, at least 7.0 million corn acres are estimated to be unplanted in states in the eastern Corn Belt and the Dakotas.

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VIDEO: Prevented Planting hurdles

DES MOINES, Iowa (Agriculture.com)--The CME Group corn market reached three-week highs on planting concerns Friday. This is intensifying Midwest farmers' plans to stick with original planting intentions, collect prevent plant insurance coverage, or switch from corn to soybeans.

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'It's a disaster'

CHICAGO, Illinois (Agriculture.com)--The floodwaters that inundated southeast Missouri and southwest Illinois farmland earlier this month now threaten millions of acres in the rich farming region of the Mississippi Delta.

Under a worst-case scenario, if levees break, Mississippi farmers could lose up to 1.2 million acres of crops this month. Also, across the river, Arkansas farmers are crossing their fingers that the levees hold. Farmers as far as 60 miles east of the rising Mississippi River are preparing to lose ground.

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