USDA, another NAIL in farmer income, Corn ending stock projected to increase 39% a year from now.
Soybeans increase 87% , Wheat only 3%. Canola takes a crap immediately, a**hole traders...So ....next year wheat will be best crop?
Bring on world wide crop loss, even 10% would help us all.
Next great crops in Australia...Australia Seen Harvesting Second-Biggest Wheat Crop After Rain - Australian farmers are set to harvest the second-biggest wheat crop on record after winter rain boosted plant
development. Production may total 28.1 million metric tons in 2016-17, the Australian Bureau of Agricultural & Resource Economics & Sciences said in a report. That compares with
the agency’s June estimate of 25.4 million tons and 24.2 million tons a year earlier. Farmers typically begin harvesting wheat starting next month. A bigger Australian crop will add to
global stockpiles already forecast at a record and further pressure benchmark Chicago prices that are heading for a fourth annual loss. Australia had its second-wettest winter on
record after the end of El Nino conditions, according the Bureau of Meteorology. The country’s total winter crop production, including wheat and barley, is set to climb to a record 46.1
million tons in 2016-17, Abares said. “Seasonal conditions in most cropping regions during winter were very favorable, and crops are generally in very good condition at the beginning
of spring,†the report said. “In the eastern states, including South Australia, winter rainfall was average to above-average. In Western Australia, winter rainfall was more variable but
timely and the season opening was generally very favorable.†Western Australia’s wheat crop, the country’s biggest, may total 10.5 million tons from 9.3 million tons forecast in June,
Abares said. Production in New South Wales, the second-biggest grower, is set to total 7.95 million tons from 7.5 million tons estimated in June, it said. Australia’s barley output will
reach 9.5 million tons, the second-biggest on record and up from June’s estimate of 9 million tons. Canola production will probably be 3.6 million tons from 3.2 million tons predicted
in June. Cotton output may total about 875,000 tons in 2016-17, up from 579,000 tons a year earlier. (BLOOMBERG)
Australian officials, citing "very favourable" growing conditions, lifted their forecasts for domestic barley, canola and wheat crops – setting the scene for what one analyst
termed a "gruesome" export battle. Abares, the official Australian commodities bureau, hiked by 2.7m tonnes to 28.1m tonnes its forecast for the forthcoming wheat harvest, upgrading
it to the second highest on record, albeit keeping it below some estimates of 30m tonnes or more which have been suggested. For barley, the production estimate was lifted by
370,000 tonnes to 9.50m tonnes, putting Australia on track for its second biggest crop of this grain too, while the canola output forecast was lifted by just under 400,000 tonnes to
3.63m tonnes. The upgrades reflected what Abares termed "very favourable… seasonal conditions in most cropping regions during winter", with the bureau adding that crops were
"generally in very good condition at the beginning of spring". However, the bureau cautioned that bumper crops – Australia's winter crop harvest overall was pegged at a record
46.1m tonnes, a rise of 16% year on year – was not in the bag yet, and will "only be achieved if spring rainfall is sufficient and timely. This was true "especially in regions of Western
Australia", the top wheat growing state, "that had average-to-below-average winter rainfall". Abares added that "crops in some regions of Australia have developed relatively shallow
root systems - which will not readily access stores of lower layer soil moisture", making them vulnerable to drier spells. "Rain makes grain - but after all this high rainfall in the southern
hemisphere spring, conditions in the eastern states are presenting a threat to average protein levels there," said Mr Fell, a former wheat analyst at Abares, who co-ordinated the
Australian Crop Report briefings prior to 2013. "If harvest is wet, quality could also suffer," with damp encouraging kernels to sprout, cutting values of all-important wheat proteins. At
Commonwealth Bank of Australia, Tobin Gorey said that the "trade is – and will remain for some time yet – worried about the supply of milling grade grain in eastern Australia".
Soybeans increase 87% , Wheat only 3%. Canola takes a crap immediately, a**hole traders...So ....next year wheat will be best crop?
Bring on world wide crop loss, even 10% would help us all.
Next great crops in Australia...Australia Seen Harvesting Second-Biggest Wheat Crop After Rain - Australian farmers are set to harvest the second-biggest wheat crop on record after winter rain boosted plant
development. Production may total 28.1 million metric tons in 2016-17, the Australian Bureau of Agricultural & Resource Economics & Sciences said in a report. That compares with
the agency’s June estimate of 25.4 million tons and 24.2 million tons a year earlier. Farmers typically begin harvesting wheat starting next month. A bigger Australian crop will add to
global stockpiles already forecast at a record and further pressure benchmark Chicago prices that are heading for a fourth annual loss. Australia had its second-wettest winter on
record after the end of El Nino conditions, according the Bureau of Meteorology. The country’s total winter crop production, including wheat and barley, is set to climb to a record 46.1
million tons in 2016-17, Abares said. “Seasonal conditions in most cropping regions during winter were very favorable, and crops are generally in very good condition at the beginning
of spring,†the report said. “In the eastern states, including South Australia, winter rainfall was average to above-average. In Western Australia, winter rainfall was more variable but
timely and the season opening was generally very favorable.†Western Australia’s wheat crop, the country’s biggest, may total 10.5 million tons from 9.3 million tons forecast in June,
Abares said. Production in New South Wales, the second-biggest grower, is set to total 7.95 million tons from 7.5 million tons estimated in June, it said. Australia’s barley output will
reach 9.5 million tons, the second-biggest on record and up from June’s estimate of 9 million tons. Canola production will probably be 3.6 million tons from 3.2 million tons predicted
in June. Cotton output may total about 875,000 tons in 2016-17, up from 579,000 tons a year earlier. (BLOOMBERG)
Australian officials, citing "very favourable" growing conditions, lifted their forecasts for domestic barley, canola and wheat crops – setting the scene for what one analyst
termed a "gruesome" export battle. Abares, the official Australian commodities bureau, hiked by 2.7m tonnes to 28.1m tonnes its forecast for the forthcoming wheat harvest, upgrading
it to the second highest on record, albeit keeping it below some estimates of 30m tonnes or more which have been suggested. For barley, the production estimate was lifted by
370,000 tonnes to 9.50m tonnes, putting Australia on track for its second biggest crop of this grain too, while the canola output forecast was lifted by just under 400,000 tonnes to
3.63m tonnes. The upgrades reflected what Abares termed "very favourable… seasonal conditions in most cropping regions during winter", with the bureau adding that crops were
"generally in very good condition at the beginning of spring". However, the bureau cautioned that bumper crops – Australia's winter crop harvest overall was pegged at a record
46.1m tonnes, a rise of 16% year on year – was not in the bag yet, and will "only be achieved if spring rainfall is sufficient and timely. This was true "especially in regions of Western
Australia", the top wheat growing state, "that had average-to-below-average winter rainfall". Abares added that "crops in some regions of Australia have developed relatively shallow
root systems - which will not readily access stores of lower layer soil moisture", making them vulnerable to drier spells. "Rain makes grain - but after all this high rainfall in the southern
hemisphere spring, conditions in the eastern states are presenting a threat to average protein levels there," said Mr Fell, a former wheat analyst at Abares, who co-ordinated the
Australian Crop Report briefings prior to 2013. "If harvest is wet, quality could also suffer," with damp encouraging kernels to sprout, cutting values of all-important wheat proteins. At
Commonwealth Bank of Australia, Tobin Gorey said that the "trade is – and will remain for some time yet – worried about the supply of milling grade grain in eastern Australia".
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