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USDA data reaction is mixed

DES MOINES, Iowa (Agriculture.com)--The U.S. farmer will produce less corn and less soybeans in 2011 than the trade estimates, according to the USDA Wednesday. 

The trade sees the data as slightly friendly. Early calls for the commodities are 3-5 cents higher for corn, 5-10 cents higher for soybeans, and wheat is  expected to follow the floor trend.

Better than expected

The combines are rolling in west-central Illinois & corn yields are coming in better than farmers expected.

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Drought to shift cattle production

CHICAGO, Illinois (Agriculture.com)--A severe drought in the U.S.-South could change the face of the cattle industry for years, one analyst says. 

With its driest 10 months ever in a century, Texas is the hardest hit state, according to the U.S. Drought Monitor.

Since January, Texas has only received 40 percent of its normal rainfall, the National Weather Service reports. 

Over 1.0 million acres of range and pasture land have been burnt up from this year's drought, according to anecdotal reports. 

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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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