USDA report came out at 11:00 and markets immediately went limit up on corn and beans and wheat was up 16. very good day for grain markets. The trade was anticipating around 93 million acres of corn and 90 million acres of beans to be seeded this year and the usda came out with 91 million acres on corn and just shy of 88 million on beans. very bullish surprise. The stocks part of the report wasn't that big of a surprise, those numbers were within reason to where the traders were anticipating. Next USDA report comes out April 9th, the trade will be very interested in seeing what kind of carryout projections the usda is looking at as we go forward. Weather, addition Chinese purchases/cancellations will be closely monitored going forward. We don't normally see these kinds of new crop prices this early in the year, very profitable but hopefully there will be more upside potential too.
Boonville Location: 1605 Radio Hill Road, Boonville, MO 65233 Location Manager: Ronnie Anderson 660-882-2786 Fertilizer Plant: 660-882-7202 Lone Elm: 660-882-2786
Fayette Location: 111 Armstrong St., Fayette, MO 65248 Location Manager: Larry Kramm 660-248-3303
Glasgow Location: 402 10th Street Glasgow, MO 65254 Location Manager: Shawn Frevert 660-338-2251
Salisbury Location 304 W. Front St., Salisbury, MO 65281 Location Manager: Blake Erickson 660-388-6421