August USDA Report

[charliep]

Just a highlight that today is a USDA report day. It is the first survey based yield estimates for 2015 US corn and soybeans. Given the red in the futures market, I suspect you know the markets interpretation. Having said, the outside events around the yuan devaluation/world financial markets are likely have more impact and a greater source of instability down the road.

[URL="http://www.usda.gov/oce/commodity/wasde/latest.pdf"]WASDE[/URL]

Will let you guys discuss. Hopefully Moe and Errol provide some ideas.

[errolanderson]

Charlie . . . think you retired just in time.

[SASKFARMER3]

I'll say it again the USDA is full of shit! Always are always will be!
Flooded soy ain't coming back similar with corn! But hey it's the USA much like alberta everything is all right!

[fjlip]

Thanks USDA, for f*cking up my day. They never fail to ruin farmers and put smiles on the 98% of society. Must be a US election coming, ALWAYS TOO MUCH grain worldwide!

[Partners]

As long as there is 1 extra seed, than the consumer needs, there is too much..

[hobbyfrmr]

High grain prices take away from the industry's profits. I agree with FJ and Partners, as long as there is "adequate supply" prices will remain soft.

[fjlip]

In the early 70's world was going to be short of food, DUH guess I should farm, what a monstrous miscalculation that was. Still waiting for food/supply shortages and a profitable inflation adjusted PRICE to producers...will never live long enough to see that. It's give up time!

[wmoebis]

Maybe USDA is anticipating that a lot of the Canadian wheat will be flowing freely South when all the varieties are reclassified and price discounted here but will still be valued as HRS in the USA.

[MBgrower]

We have average farm sizes in australia of 25-40,000 acres. Perhaps they can afford to grow $4 wheat and $8 canola. Is this the future?

[fjlip]

I KNOW we are the PAST, if that is all farmers need to be in future.