Major Crop Report Released - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Major Crop Report Released

Posted:

Many farmers have been anxiously awaiting the release of a very important crop report.
The USDA October Report is always a major player in determining which commodity markets will go up or down.
Due to a government shutdown, the report was never released---which makes the November report even more important.
Ag Reporter Sarah Gustin has the story.

A report that was expected to be painful to the commodity markets---actually didn't shake things up that much.
(Eugene Graner / Heartland Investor Services) "The number that came out, when you consider the dire thoughts how bad some people were thinking how bad it could be as far as increased production, became basically a yawn. They were as bad as expected which is why we have seen a rally in soybeans since the report as well as corn."
Graner has been in the grain trading business for 26 years.
And he says while the numbers didn't have a major impact on the markets, it's not time to sell just yet.
(Eugene Graner / Heartland Investor Services) "The reality of storage is king right now. if you didn't make your sales earlier in the year or last year when prices were substantially better. now is not the season for selling. Now is the season for storing. But upside potential is not massive. It's either going to be made, in the selling of deferring contracts and waiting for the improved price, along with the improved basis."
The USDA projections for Corn production only changed 1 percent from the pervious forecast.
And soybean production was up 3 percent from the last forecast.
Changes that aren't much, compared to what some were expecting.
But Graner says prices aren't going to be what farmers have been seeing the last 5 years.
(Eugene Graner / Heartland Investor Services) "The board is going to have a hard time going over 5 dollars, old crop anytime soon, unless there's a South American crop problem."
Graner says it could take a crashing U.S. dollar to change the direction some prices have been heading.
(Eugene Graner / Heartland Investor Services) "Here's the problem. You don't want high grain prices because of a crashing dollar because you are still broke. Everything you buy is just that much more expensive. Rents go up, fertilizers go up, you don't want to experience that, but unfortunately that is something that I see in the future. Is that a crashing U.S. dollar is going to cause the grain prices to rally and you really aren't winning."

Currently Brazil is on track to produce its largest soybean crop ever, at roughly 90 million tons. 


 

  • AgricultureMore>>

  • Farmers Market Growers Stay Busy

    Farmers Market Growers Stay Busy

    Thursday, July 24 2014 12:27 PM EDT2014-07-24 16:27:56 GMT
    Many of you are bypassing the produce aisle and heading straight for the market.Ag Reporter Sarah Heinrich visits with some local farmers about this year's season.A rainy start to the day...isn't enough to keep shoppers away.Even if not all the crops are ready for picking.(Pam Anderson / Grower) "We've had an increase in membership for vendors. But nobody's stuff is ready because of the cold, cold June. once the cucumbers kick in. The green beans haven't quite kicked in yet, the tomatoes, the...
    Many of you are bypassing the produce aisle and heading straight for the market.Ag Reporter Sarah Heinrich visits with some local farmers about this year's season.A rainy start to the day...isn't enough to keep shoppers away.Even if not all the crops are ready for picking.(Pam Anderson / Grower) "We've had an increase in membership for vendors. But nobody's stuff is ready because of the cold, cold June. once the cucumbers kick in. The green beans haven't quite kicked in yet, the tomatoes, the...
  • Ranchers Pay Checks Drive Equipment Sales

    Ranchers Pay Checks Drive Equipment Sales

    Tuesday, July 22 2014 1:58 PM EDT2014-07-22 17:58:29 GMT
    Record high cattle prices aren't just good news for ranchers, but for those also selling the equipment needed to raise those high dollar animals. Ag Reporter Sarah Heinrich takes you to the State Fair for the story.Layne Ankenbauer/ Equipment Picker) "We just sold a baler here this morning."Ranchers getting paid...means it's also pay day for equipment dealers.Layne Ankenbauer is the owner of Equipment Picker in Kenmare.He says trailer sales have been hot, as well as post hole pounders.(Layne ...
    Record high cattle prices aren't just good news for ranchers, but for those also selling the equipment needed to raise those high dollar animals. Ag Reporter Sarah Heinrich takes you to the State Fair for the story.Layne Ankenbauer/ Equipment Picker) "We just sold a baler here this morning."Ranchers getting paid...means it's also pay day for equipment dealers.Layne Ankenbauer is the owner of Equipment Picker in Kenmare.He says trailer sales have been hot, as well as post hole pounders.(Layne ...
  • Land Enhancement Grants

    Land Enhancement Grants

Quick Clicks
Closings/Delays
View list
Calendar
What's happening?
Lottery Results
Feeling lucky?
Viewer Photos
Submit yours!
Road Report
Current conditions
TV Listings
See what's on
Gas Prices
Check near you
E-Mail Newsletter
Signup now

Most Popular

Stories
Videos
loading...
Powered by WorldNow
General information or questions:
kxinfo@kxnet.com

News:
Bismarck:
Phone: 701-223-9197
News Fax: 701-223-1985

News:
Minot:
Phone: 701-852-2104
News Fax: 701-838-1050
All content © Copyright 2000 - 2014 WorldNow and KXNET. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.