Technically Speaking
Darin Newsom DTN Senior Analyst

Monday 06/30/14

Cash Grains and Quarterly Reports
A look at the intrinsic value of the corn and soybean markets indicates what kind of reaction we could expect immediately following the release of USDA quarterly reports.[Read Full Blog Post]
Posted at 8:32AM CDT 06/30/14 by Darin Newsom | Post a Comment
Comments (4)
Darin is the social media still abuzz over the USDA- United States Dictatorship of Agriculture corrupt report that sent the grain "market" into a collapse. These "reports" they come up with are such a joke, who do they answer to, or who checks their numbers? What a sick situation farming has become helpless to a out of control corrupt government agency. Disaster is the only hope a farmer has to get a fair price for the food we produce.
Posted by DAVID/KEVIN GRUENHAGEN at 4:23PM CDT 06/30/14
The one thing that concerns me, and has for years, is the very premise of this report. As producers, we are required to certify planted acres. In Iowa anyway, and I assume many other states as well, that certification date that verifies planted acreage is June 30. So how does so much weight get placed on what can only be an estimate and extrapolation based on percentages? Now on top of that; the last two years, due to the extremely wet May/June months that we've had, those planted acre dates have been extended. When exactly do they start to use true numbers supplied by those of us that plant the crops?
Posted by Nathan Kitzinger at 10:34PM CDT 06/30/14
Good morning David and Kevin. Social media certainly was buzzing all Monday afternoon over the grain markets' reaction to USDA's June 30 reports. I wrote my view of the situation in an On the Market column/report review that will go up early Tuesday morning. As a reader of DTN, you know I am no fan of having these reports to begin with because of the unnecessary volatility tied to subjective numbers. I will say though that Monday's trade was nothing more than an extension of trends already in place. Again, thank you for your comments.
Posted by DARIN NEWSOM at 6:02AM CDT 07/01/14
Good morning Nathan. I agree completely with your concerns about the premise of the reports in general. As for when will actual acreage be accounted for, we need go back no further than 2013 when the argument was it never happened. DTN readers no I have railed against the process of releasing reports in any form, as they have outlived their intended purpose and usefulness. Thanks again for your comments and questions.
Posted by DARIN NEWSOM at 6:07AM CDT 07/01/14
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