USDA WASDE report, nothing really changed

Jun 12, 2013

USDA WASDE report, nothing really changed

There were no surprises in today’s June 12 World Agricultural Supply and Demand Estimates (WASDE) report. The initial reaction was bearish for corn and wheat, and neutral to friendly for soybeans.

The following are some highlights:

Corn:

Old crop ending stock moved higher from 759 million to 769 million. Exports were lowered by 50 million. New crop ending stalks lowered to 1.949 billion from previous estimates of 2.004 billion.

Wheat:

U.S. wheat supplies for 2013/14 are raised. Beginning stocks are higher with a 15 million bushel reduction in 2012/12 exports. Production for 2013/14 is up 23 million bushels.

Soybeans:

U.S. soybean supply and use projections for 2013/14 are unchanged from May. Soybean imports are raised 5 million bushels to 25 million. Soybean exports for 2013/14 were reduced by 20 million bushes to 1.33 billion bushels. Global oilseed production for 2013/14 is projected at 490.8 million tons, down 0.5 million from May.

The market will be watching for the June 28^th report next. The full report can be found here: http://www.usda.gov/oce/commodity/wasde/

Video: Spring Planting Prep Just Got Serious… We NEED This!

Getting closer to planting season means one thing… it’s time to get EVERYTHING ready.

Today didn’t go exactly as planned—we thought we’d be hauling potatoes again, but instead we spent the day digging equipment out of the cellar, hooking up the grain drill, and getting tractors ready to roll. With wheat planting just around the corner, every piece of equipment matters.

Of course, it wouldn’t be a normal day without a few problems… dead batteries, hydraulic issues, and a truck tire that absolutely refused to cooperate. We tried everything—jump packs, bead bazooka, ratchet straps… and eventually had to bring out the “big guns” just to get things moving again.

But that’s farm life—adapt, fix, and keep moving forward.

We’re getting close to go-time. Wheat seed is coming soon, and planting season is right around the corner