Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   

Agricultural News


Allendale Finds USDA Corn Yields Lower than Expected

Tue, 12 Aug 2014 17:32:44 CDT

Allendale Finds USDA Corn Yields Lower than Expected

A projected record US corn crop would indicate that the US Department of Agriculture's corn numbers are bullish, but one analyst believes its unlikely the market will trade it. After the release of monthly crop production report and the monthly supply demand report, Allendale Analyst Rich Nelson said USDA's yield estimate of 167.4 bushels per acre was too low in being below every single guess of the various 26 analysts surveyed by Reuters Newswire ahead of this report. The average guess for yields was 170.1.


"The trade feels very clearly that yields are much higher than USDA's number 167.4 and this is only one small move in a general long-term move which will take months for USDA to actually recognize the true extent of this year's supply," Nelson said.


Traders also made higher estimates for production and ending stocks. Nelson said while USDA's numbers are smaller than expected, he said no one will trade this as a bullish report. The trade and Allendale believes there is a nation wide yield of 170 at a minimum.


Soybean estimates came in on target. Nelson said the yield estimate for soybeans came in close to pre-report estimates at 45.4 bushels per acre. USDA is estimating production of 3.8 billion bushels. New crop ending stocks came in at 430 million bushels.


Wheat numbers came in higher than expected with a 38 million bushel increase. Nelson said spring wheat only accounted for 7 million bushels and winter wheat production increased by 30 million bushels showing USDA found some good production in those yields as they moved their surveys further north. Wheat ending stock increased to 663 million bushels, which was on target with estimates.


To watch Rich Nelson's full video analysis of today's numbers, click in the video box below.






   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Emergency Drought Commission Approves Three Million Dollar Cost Share Program to Push Back Against Drought  Sat, 01 Oct 2022 15:07:05 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2 p.m. September 30, 2022  Fri, 30 Sep 2022 16:43:53 CDT
  • Chairman David Scott Releases Statement Congratulating Vincent Garfield Logan on His Confirmation to Farm Credit Administration Board  Fri, 30 Sep 2022 15:07:33 CDT
  • Op-Ed from Kenneth Corn: USDA- We Serve Rural Communities Too  Fri, 30 Sep 2022 14:57:02 CDT
  • Hard Red Winter Wheat production lowest since 1957  Fri, 30 Sep 2022 14:44:28 CDT
  • Latest Southern Plains Perspective Blog: Hot, dry, dust and smoke all outside the back door.  Fri, 30 Sep 2022 13:47:21 CDT
  • Wheat Production Estimates for Oklahoma Fall Six Percent from August to September   Fri, 30 Sep 2022 12:16:36 CDT
  • Younger Cows are Starting to Come to Town, Says Bob Rodenberger  Fri, 30 Sep 2022 10:46:55 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.
       

       

    Search OklahomaFarmReport.com

    © 2008-2022 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.