Kim Anderson: USDA's WASDE Report Comes In Close To ExpectationsFri, 10 Feb 2012 06:20:50 CST
Dr. Kim Anderson reports the recent WASDE report from the USDA was very close to expectations. Corn was projected at 997-million bushels, it came in at 801; beans were projected at 269-million bushels, it came in at 275; and wheat expectations were for 868-million bushels and the actual came in at 845.
Anderson said it was good news that wheat ending stocks were lowered by the USDA compared with last month's 870-million bushel figure.
This means the markets are favorable and he sees them being bullish on corn and beans and slightly bearish on wheat.
International numbers won't provide much price impact as they were right on with industry estimates.
Bloomberg reports record corn, bean and wheat prices, with corn at $6.20, beans at $11.45, and wheat at $7.20. Income in corn and bean country has been up 28 percent and farmland values are reflective of that trend. Farmland values across the midwest are averaging $2,350 an acre. Iowa prices are averaging $5,600 per acre.
Anderson says increases in corn and wheat acreages, however, will mean slightly lower prices next year.
You can hear Dr. Anderson's full analysis by clicking on the LISTEN BAR below or catching SUNUP on your local OETA station on Saturday.
This week on SUNUP, Jeff Edwards explains why some producers are seeing yellow wheat in their fields. Then, Brian Arnall and Jim Rhodes talk about nitrogen-rich strips, topdressing and GreenSeeker technology during a visit to Major County.
--In the Mesonet report, Al Sutherland recaps the recent rainfall totals and looks at how the rain impacted soil moisture levels.
--Kim Anderson covers the latest WASDE report and its potential impact on prices.
--In Cow-Calf Corner, Glenn Selk explains the optimal bull-to-cow ratio.
--Daren Redfearn discusses pasture recovery during drought.
-In Shop Stop, Randy Taylor and Wayne Kiner demonstrate a way to make a coupler by heating PVC pipe, when you don't have the necessary fittings.
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