what the USDA Crop Report means to North Dakota - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

what the USDA Crop Report means to North Dakota

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It's a big player in deciding if the markets go up or down.
The March 31st crop report released by the USDA can cause some major shakeups in the market.

One of the largest crop reports of the year is released.
And the biggest surprise of all ..is the lack of surprises...
(Eugene Graner / Heartland Investor Services) "For a crop report that is a big as this one is every year, it really was somewhat subdued." 
The only stand out is corn.
Acres are expected to be down 4% nationwide, which could push prices up.
(Eugene Graner / Heartland Investor Services) "The biggest standout is that USDA has consistently undercounted the ability for this crop to be sold and used. It has been tough winter. Cattle have been going through a lot of groceries and our exports have always been ahead of schedule because corn is 1/2 price of where it was last year. "
Sunflower acres are expected to rise 1% from last year.
John Sandbakken with the National Sunflower Association says he was hoping more acres in 2014 would be planted to sunflowers.
He expects the lower estimate to keep the market strong. 
(John Sandbakken / NSA Executive Director) "Stocks are down 33% from last year at this time. So that should keep old crop prices really firm and keep the plants going after new acres in 2014." 
As many expected soybean acres are expected up be up 6% nationwide.
That would be an all time record high at 81.5 million acres.
North Dakota acres are expected to be up 122% from last year, with a total of 5.65 million acres.

Estimates for wheat acres remained nearly unchanged, down only 1% from last year at 55.8 million acres.

 

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