Sarah Bowman, Indianapolis Star - Every American household has felt the weight of inflation this year, but farmers have it worse than most. The stakes are higher than ever with costs soaring.
Topics in this Month’s Update: 1. Prospective Plantings Report Surprises with Corn Acreage Potential 2. April WASDE: USDA Reacts to Changing Fundamentals 3. Short-Term Precipitation and Temperature Outlook 4. 2019 Corn, Soybean, and Wheat Basis vs. Previous Years …
This month’s newsletter, from Dr. Todd Davis, includes analysis on WASDE, basis, projected futures trading ranges to harvest, risk management opportunities, and more.
While the grain markets continue to struggle with understanding the size of the 2019 corn and soybean crops, the market pretty well understands the 2019 winter wheat crop’s estimated production. As of August 19, USDA’s weekly Crop Progress report pegged the winter wheat harvest in the U.S. as 93% completed.
Kentucky farmers proudly provide high quality grains for feed, food, spirits and fuel use throughout the southeastern U.S. and around the world. They produced a record level of soybeans, and the 6th largest corn crop in 2018 (Table 1) due to record acreage and near record yields.
In a typical year, the August Crop Production report provides insight into the size of the corn and soybean crops. The historically late-planted corn and soybean crops have created uncertainty about the planted area and yield potential. The August reports included a re-survey of planted area in states that account for 85% of U.S. corn and soybean production.
