Market Matters Blog
Katie Micik DTN Markets Editor

Thursday 03/28/13

Farmers' Perspectives on the Relevance of USDA Reports
There's no doubt that USDA reports move the markets, but are they as relevant to farmers as they once were? On the day of two reports carrying important fundamental news, the question couldn't be any more salient.[Read Full Blog Post]
Posted at 7:09AM CDT 03/28/13 by Katie Micik | Post a Comment
Comments (4)
I could benefit more from a "weather intentions" report! Seriously though, it seems that every report is received with some amount of disbelief. Plus, we have private forecasters who will do a good job or be one and done as far as being taken seriously. I think USDA number crunchers are a good place for furloughs.
Posted by Curt Zingula at 7:35AM CDT 03/28/13
yes USDA reports mean nothing in real life. bean counters in an office that probably have never seen a corn field adding up numbers justifing their jobs O K lets do some real cuts. These reports serve no purpose to the people with their feet on the ground. All these reports do is add more volitility to the market
Posted by STEVEN HUP at 3:12PM CDT 03/28/13
Does anyone remember when Hillary was caught for insider trading? Just lately there was new law clarifying that members of congress do not need to report the trading of their wives and children. Close friends and paying clients are not considered. Most of the farmers do not even believe the reports are accurate and every single time the market has collapsed it is because of a report. The Gov. has always wanted to keep food cheap and the U.S.D.A. does a good job of that. The price of milk is the best example. These limit moves after a report happen quite frequently and then expanded price limits go into effect and even expanded hours are now in place. The rules have changed so many times that it is hard to keep track of what is legal for traders now. I am going to make a bold statement here but it has been building for a long time. Back when I was in college marketing class we were taught that the basis was the transportation cost between a delivery point in Chicago and the point of the cash purchase. Now there is no integrity at all between the Board of trade price and the place of purchase. Sometimes it is even a positive number as it is now in our area. The integrity that is supposed to keep the board price in check is no longer working. It has been corrupted. I understand that if a contract at the board is in the delivery time period that it is very unclear where that is. Since the Board of Trade was established to help with the price discovery because of lack of price information to all involved in buying and selling that technology is able to replace the whole Board of Trade. We do not need it anymore. We do not need the U.S.D.A. anymore either to report the supply. Buyers and sellers need to meet in a new/old way and leave the crooks out of it. There would be much less risk for us farmers and the buyers would benefit the same because of less risk. To say that my corn is worth 40 or 80 cents less in one or two days is wild. What is to stop these lawmakers to allow the markets move 3 or 4 dollars in one or two days for corn. It used to be only 20 cents. I would like to know how much money the associates of the U.S.D.A. or Congress made on the move today. Can't that be reported and gambled on to? David Krukow Hampton Ia
Posted by DAVID KRUKOW at 8:28PM CDT 03/28/13
First of all I would like to wish everybody a happy Easter. These numbers the U.S.D.A. released are very wrong. There are hundreds of semis going 1000 miles or better to get corn to fill their contracts up here in the midwest a day. So i ask our govt. where is the 400 million extra bushel they found. L.O.L!!!!!!!!
Posted by KEITH PEARSON at 6:19PM CDT 03/29/13
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