National Cattlemen’s Beef Association NCBA President Don Schiefelbein of Minnesota testified before a House Agriculture Committee hearing Wednesday on cattle market policy issues. Listen to Schiefelbein’s opening remarks here: (5:16) Wednesday’s hearing included a panel consisting of the CEOs of the four major meat packing companies – Cargill, Tyson, National Beef and JBS. The hearing was based on allegations that …
USDA Acreage Report Commentary
With all the weather-related planting delays this year, USDA’s Acreage report out Friday was a big surprise to the trade with corn acres estimated to be three percent higher than last year. At the same time, soybean acres are estimated to be the lowest in six years. Corn planted area for all purposes in 2019 is estimated at 91.7 million …
GrainCoat App Streamlines Grain Marketing
GrainCoat, launched in 2018, is an app for farmers to manage their grain marketing decisions, to organize information and do away with excel sheets or hand-written notes. GrainCoat founder Sean Arians discussed and tested GrainCoat with farmers from across the country, making tweaks and updates along the way. He’s looking forward to continuing to integrate technology solutions to ease data …
MGEX Presents Industry Commentary on Crop Reports
USDA released its May World Agricultural Supply Demand Estimates (WASDE) report on May 10 with an initial assessment of U.S. and world crop supply and demand prospects and U.S. prices for 2018/19, as well as the latest wheat production forecast for 2018. In addition, on May 11, the Stats Can Stocks of Principal Field Crops report was released for Canada. …
FarmLead Adds Price Discovery to Online Grain Marketplace
Delivers More Value to Farmers by Providing Free, Time-Saving Information at the Point of Sale FarmLead, North America’s largest and fastest growing online grain marketplace today announced the launch of its newest feature, Price Discovery. Price Discovery provides an accurate, comprehensive view of historical and future grain price trends specific to the user’s geography, empowering farmers to make the smartest …
Uncertain Markets Require Flexibility
In this week’s ZimmCast, our Chuck Zimmerman speaks with Chip Whalen, Commodity & Ingredient Hedging (CIH). The topic is uncertainty requiring flexibility. Think about how commodity prices are affected by weather, trade, exhange rates and more competition. There are more factors too. In the program, Chuck and Chip discuss how farmers can manage risk with the uncertainty we’re seeing in …
Dr. John Newton Analyzes Milk Price Decline
Since the record highs of 2014, when milk was priced at well above $25 dollars per cwt, U.S. milk production has continued to grow at record numbers, and the USDA has projected that a record 212 billion pounds of milk will be produced in the U.S. in 2016. The demand, however, has begun to slow, and this new dynamic of …
Reaction to Prospective Plantings Report
The 2015 Prospective Plantings released by USDA shows declines expected in corn, wheat and cotton acres this year, with only a modest increase in soybean acreage. Randy Martinson with Progressive Ag, who provided commentary on the report for the Minneapolis Grain Exchange crop call, was surprised by some of the numbers.
GROWMARK Report Studies Stocks-to-Use
GROWMARK Report Studies Stocks-to-Use A new report from GROWMARK Research challenges the commonly accepted notion that ending stocks are a primary determinant of agricultural commodity prices. In the report, GROWMARK economic and market research manager Kel Kelly shows that stocks are inversely correlated with prices, but that the correlation occurs within a limited price range, meaning that stocks do not …
MGEX Calls on US and Canada Crops
The Minneapolis Grain Exchange (MGEX) hosted two crop calls in the past week to discuss reports out of Stats Canada and USDA. The Stats Canada field crop report was released on February 4 and was analyzed by Wayne Palmer and Brian Voth of Agri-Trend. Jack Scoville of the Price Futures Group discussed the USDA World Agricultural Supply and Demand Estimate …
MGEX Call on WASDE Report
USDA released the latest World Agricultural Supply and Demand Report on January 10. Minneapolis Grain Exchange hosted a conference call with Brad Paulson of Northern Crops Marketing and Investment to analyze the numbers.
Analyst Summarizes Canada Crop Report
Canadian farmers harvested record crops this season, according to the December report from Statistics Canada. Production of most field crops increased in 2013 compared with 2012 as yields reached a number of record highs. Both canola and wheat production reached record levels in 2013. Analyst Bruce Burnett with the Canadian Wheat Board (CWB) summarized the report and his take on …
MGEX November Crop Call
USDA issued its November Crop Production forecast on Friday, calling for a record corn crop of just a hair under 14 billion bushels. During the Minneapolis Grain Exchange conference call on the report, Mike Krueger of The Money Farm commented on both the new production forecast and the new WASDE report.
Commentary on USDA Acreage Report
Despite the challenging planting conditions this spring USDA is saying that farmers have planted the most corn and soybean acres ever, according to Friday’s Acreage report. Considering what the spring has been like, the numbers are being met with some skepticism by market watchers in particular. “It’s a shockingly big number and it will be questioned,” said Jack Scoville of …
MGEX Conference Call
The September Crop Report was released by USDA this morning. The Minneapolis Grain Exchange followed up with commentary on the report, as they do every month, in a conference call with reporters. This month’s commentator is Mike Krueger of The Money Farm. Listen to the MGEX September Crop Report Conference Call here. MGEX September (16:40 min MP3)
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