DTN/The Progressive Farmer: Agriculture Markets, News and Weather

DTN Market Matters Blog

Pat Hill DTN Markets Editor

Bio | Email

Tuesday Nov 3, 2009

The Parade Continues

Another private crop estimate came out Tuesday afternoon, from the Linn Group.

The Linn Group shaved a little off its Oct estimates, Reuters reported Tues afternoon, citing lighter test weights and crop losses in the northern part of the Corn Belt, and also the late harvest. But losses in the Delta from flooding will be more than covered by strong yields across the Midwest, the company said.

The firm now pegs the corn crop at 13.025 billion bushels on average yield of 164.3 bushels per acre. Production is down 219 million bushels from its October estimates, but still above USDA's October estimate 13.018 bb.

For soybeans, Linn Group is predicting production of 3.325 bb on yield of 43.4 bpa, down 86 mb from its October estimate, but still 75 mb above USDA's October tally.

Wednesday will bring more estimates, including Informa's in the morning, and FCStone in the afternoon.

Posted at 01:00PM CST Nov 3, 2009

Comments (2)

perhaps we have a chance to see a wider spread of pre-report estimates then we did last month?????usually as harvest gets closer we are suppose to have a better idea of yields..........not less!!.......this along with what appears to be very volatile outside markets should keep producers on their toes when trying to make good marketing decisions.......

Posted by Jeremey Frost at 02:18PM CST Nov 3, 2009

hold on to your shorts we are in for a ride! They are saying in one area I read that Brazil planted early variety beans and this will be short lived but I feel differently on it. Brazil has just as many obstacles as we do here in the Midwest (Ia) to get through yet! Time will tell and market watch is just as important now as it was last year when things were much higher! Good Luck! Lisa

Posted by l d at 07:37AM CST Nov 4, 2009

Post a Blog Comment:

Your Comment:

You must be logged in to post a comment. If you are not already registered, click on the Register link at the top of this page.

Post Comment

Blog Home Pages

	November 2009
S	M	T	W	T	F	S
1	2 More Looking Ahead -- Feed Demand Nov Guessing Game Under Way Some Kansas Wheat Producers Still Waiting October Ends in Bearish Mode	3 The Parade Continues Wide Spreads in Cotton, Rising OI Good: Corn Harvest Mid-December Make That Call! Monday Gains for Cash Bids	4 FCStone Cuts Corn, Hikes Soy Tallies Mud Is Headache, Profit Drain for Dairies, Feedlots Outside Markets -- Gold and Crude Informa Makes Cuts in Corn, Soy Estimates Corn, Bean Indexes Advance Tuesday	5 Bearish Outlook for Soybeans	6 Just Small Changes in Lanworth Estimates China's Soy Appetite Unabated Some Basis Shifts -- Harvest Pressure?	7
8	9 Big Surge in Chinese Passenger Car Sales Indexes Sag Friday	10 Changes in World S&Ds Big Jump in Cash Indexes Monday	11 Questions Surround U.S. Production Number	12 Chinese Corn Production Real Considerations, of the Currency Variety Midweek Gains for Cash Beans, Wheat	13 Adding Some Ratios No New Corn or Soy Numbers Til January Cash Soy Index Gets Boost Next Bottleneck: Propane	14
15	16 Dealing with Vom Issues Vom Talk in Corn Cash Grain Bids See Firm Start	17 Settlement Procedures Revised for Wheat, Rice, Corn, Beans Drying Costs Still A Problem Cash Indexes Get Boost Monday	18 A Rally to Reward or to Ignore? Speculation about Vom Specifications Beans, Wheat Indexes Advance	19 Cash Grain Bids Softer at Midweek	20 Weakness Remains in Ag-Dependent Economies, Survey Finds Corn Mountains Growing Big Yields, Combines Running Hard in Northeast Nebraska Another Leg Up for the DTN Soybean Index	21
22	23	24	25	26	27	28
29	30

RSS

Recent Blog Posts

Weakness Remains in Ag-Dependent Economies, Survey Finds

Fri Nov 20, 2009 12:05 PM CST
It's no surprise that restraints in farm income are affecting rural economies, but a monthly survey from Creighton University puts some numbers on it.

Corn Mountains Growing

Fri Nov 20, 2009 10:41 AM CST
A million-ton corn mountain has been built at the Central Valley Ag Oakland, Nebraska, and its twin isn't far behind.

Big Yields, Combines Running Hard in Northeast Nebraska

Fri Nov 20, 2009 10:39 AM CST
Combines, grain wagons and semis bursting with corn are a common sight now in northeast Nebraska.

Another Leg Up for the DTN Soybean Index

Fri Nov 20, 2009 06:11 AM CST
Strong commercial demand seemed to be the driver for more gains in the soybean market Thursday, as a 12-cent gain took the DTN cash soybean index a bit closer to the traditional $10 target.

Cash Grain Bids Softer at Midweek

Thu Nov 19, 2009 06:10 AM CST
Early-week gains once again appear to be fading, as the DTN cash indexes were lower Wednesday, and overnight traders continued to take futures lower.

A Rally to Reward or to Ignore?

Wed Nov 18, 2009 02:29 PM CST
As we've been noting in the daily cash index comments, cash grain bids have seen some appreciation in recent days. Has that been enough incentive to prompt cash sales?

Speculation about Vom Specifications

Wed Nov 18, 2009 02:22 PM CST
While we wait to see when or if CME Group actually adds vomitoxin specifications for corn delivered against CBOT futures contracts, there's a fair amount of buzz about what it might all mean.

Beans, Wheat Indexes Advance

Wed Nov 18, 2009 06:07 AM CST
The DTN Cash Soybean Index gained 19 cents Monday, and the wheat indexes also posted gains, as merchandisers passed most of the boards' advances on to producers.

Settlement Procedures Revised for Wheat, Rice, Corn, Beans

Tue Nov 17, 2009 02:48 PM CST
It's not quite like changing the 11 herbs and spices in the Colonel's secret recipe, but there is a little feeling of being in the kitchen in this news from CME Group.

Drying Costs Still A Problem

Tue Nov 17, 2009 11:07 AM CST
Some sunny days in the first half of November have helped dry corn in the fields, but that's not to say there aren't still problems.

Cash Indexes Get Boost Monday

Tue Nov 17, 2009 06:10 AM CST
The DTN cash indexes rode the wave of commodity gains on Monday, led by a 25-cent advance in the SRW wheat index.

Dealing with Vom Issues

Mon Nov 16, 2009 01:50 PM CST
Someone called this the harvest from hell -- that might not be too much of an exaggeration.

Vom Talk in Corn

Mon Nov 16, 2009 10:00 AM CST
A subcurrent that seems to be running through the markets the last few days is that vomitoxin, usually associated with wheat, is showing up in corn.

Cash Grain Bids See Firm Start

Mon Nov 16, 2009 06:18 AM CST
After another up and down week, cash corn, beans and wheat bids appear poised to try for another leg up.

Adding Some Ratios

Fri Nov 13, 2009 02:48 PM CST
DTN has added a line to its monthly supply and demand summaries showing the stocks as a percent of use -- a quick one-number summary of the fundamentals of these markets.

No New Corn or Soy Numbers Til January

Fri Nov 13, 2009 09:00 AM CST
USDA has said its last piece about the size of the corn and soybean crops until January.

Cash Soy Index Gets Boost

Fri Nov 13, 2009 06:13 AM CST
Merchandisers hiked soybean bids Thursday, taking the DTN Cash Soybean Index up 18 cents to $9.30.

Next Bottleneck: Propane

Thu Nov 12, 2009 08:50 PM CST
The demand for propane to run Midwest grain dryers is swamping supplies in some areas, leading to some rationing by suppliers, according to reports from DTN's Refined Fuels division.

Chinese Corn Production

Thu Nov 12, 2009 02:01 PM CST
Chinese corn production for the 2009/10 crop year will total 163 million metric tons, according to the latest report from the China Grain and Oilseed Information Center.

Real Considerations, of the Currency Variety

Thu Nov 12, 2009 11:26 AM CST
Brazilian officials have been making various efforts to tamp down the value of the real -- something that could have all kinds of ramifications for the world soybean market and the price of beans at home.