Market Matters Blog
Katie Micik DTN Markets Editor

Tuesday 01/22/13

Early Reports Preferred, If At All
In a recent online poll, a majority of respondents said they preferred USDA's 7:30 a.m. report release time. Yet substantial number of voters said they didn't care what time the report was released or thought USDA should stop issuing reports all together.[Read Full Blog Post]
Posted at 10:54AM CST 01/22/13 by Katie Micik | Post a Comment
Comments (7)
Katie, I have 0 bu. of 2013 corn sold.Our local new crop corn price is 5.46, not much to get excited about.I do have new beans sold above 13.00 so right now it is not hard to do the math.Net income right now would be beans around 450.00 to corn 380.00 at normal yields for us.I do have the nitrogen and potash needs bought for corn so I do know my cost there. Chemicals and fuel cost I don't have but bean inputs should be about one third of corn.
Posted by Raymond Simpkins at 8:13AM CST 01/23/13
Unpriced on 2013 corn. ADM Decatur's Jan. 14 corn was 5.75 yesterday.
Posted by Roger Cooper at 8:07AM CST 01/24/13
That's not surprising. Have either of you done any hedging with futures?
Posted by KATIE MICIK at 9:08AM CST 01/24/13
Throwing a dart at 6:00 am at a clock would be fun.
Posted by Bonnie Dukowitz at 6:00PM CST 01/24/13
Why can't we halt trading for 5-10 minutes following a report to allow for digestion ?
Posted by james earl at 6:59PM CST 01/24/13
USDA can't force a trading halt on its own. The exchanges trading those grains would need to agree to halt trading or Congress would have to pass a law. The reason why that's unlikely is that there's bound to be a market somewhere else in the world that will trade a similar commodity during that time. With the market trend towards 24-7, it's increasingly difficult to stop it.
Posted by KATIE MICIK at 3:33PM CST 01/25/13
I am 26 and 2012 was my first season as a farmer. I have to give the USDA a WOW at the huge swings in their reports. I have 25% of 2013 sold at $6.65 and have not priced any beans yet and nothing hedged as I do not fully understand it yet. My statement would be that the USDA should provide more accurate information or none at all. I beleive the Information age of I-phones, I-pads, and sites such as DTN and others provide more accurate information and do not creat a false market such as some of the reports released this year. If I am wrong please forgive me as I am learning at a first generation farmer pace.
Posted by Russell Hedrick at 3:06PM CST 01/27/13
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