Fundamentally Speaking
Joel Karlin DTN Contributing Analyst

Wednesday 05/07/14

Ukrainian Corn & Wheat Exports
This chart shows Ukrainian corn and wheat exports as share of world trade.[Read Full Blog Post]
Posted at 10:14AM CDT 05/07/14 | Post a Comment
Comments (1)
The Ukraine situation and the current corn to wheat price ration may keep corn price stronger than the anticipated bearish WADSE report would suggest. Wheat, if it is going to be part of our livestock feeding rations, is generally fed in the first quarter of its market year. (The market year starts June 1.) The new corn harvest generally slows or stops wheat feeding. The relatively high price of wheat, generally good supply of old crop corn and generally slow corn planting pace - thus late new crop harvest - should keep the rail loaders busy moving old crop corn to the livestock areas. One would expect this to keep bids higher than if wheat was lower priced. Throw in ten states (IN IA KY MN MI ND OH PA SD and WI) that might not plant 200 to 300 thousand acres each or 2 to 3 million total unplanted corn acres and one might expect a more bullish corn environment, at least in old crop corn and at least to the June acreage report for conformation or not. The late start in North Dakota might eliminate the question of prevented acres from last year not being projected in this year's acreage estimates with North Dakota having a lot of those issues last year and again potentially again this year. The market may keep new prices "high" to and through the crop insurance final plant date, trying to keep the planters running. (Planting in the late plant period makes the less sense when potential new crop prices are below the spring insurance price.) Freeport, IL
Posted by Freeport IL at 11:03AM CDT 05/08/14
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