Mark's Feed
Jul 24, 2013

US spring wheat prospects above average in northern N.Dakota-Tour

MAX, North Dakota, July 24 (Reuters) – Spring wheat yield
prospects in northwestern North Dakota are lower than they were
a year ago but still better than average, scouts on an annual
crop tour of the top U.S. spring wheat state said on Wednesday.

Much of the crop in the area was seeded later than usual,
and because of its delayed development, the crop will need good
weather in the next few weeks to reach its full potential.

Jul 23, 2013

Wheat yields in southern N. Dakota seen bigger than 2012-tour

BISMARCK, North Dakota, July 23 (Reuters) – Spring wheat
yields in southern North Dakota are expected to be larger than
average and higher than last year, as dry and hot conditions in
July helped the crop develop after rain delayed planting
throughout much of May, scouts on annual tour said on Tuesday.

Hard red spring wheat yields were projected at 43.3 bushels
per acre, based on a survey of 195 fields across southern
portions of North Dakota, as well as some fields in South
Dakota, on a tour organized by the Wheat Quality Council.

Jul 23, 2013

Scouts find yields variable in North Dakota wheat fields

WISHEK, North Dakota, July 23 (Reuters) – Yield prospects
for the spring wheat crop in southern North Dakota were
averaging about 5 bushels per acre better than a year ago but
variability was high between fields, scouts on an annual tour
said on Tuesday.

Scouts predicted an average yield of 46.7 bushels per acre,
based on surveys of four fields in Ransom and LaMoure counties.
A year ago, scouts along the same route pegged average yields at
41.6 bushels per acre. The tour’s five-year average for the area
is 42.6 bushels per acre.

May 31, 2013

U.S. soybean acreage to rise due to planting delays

CHICAGO (Reuters) – U.S. soybean plantings are set to rise above expectations following lengthy planting delays across the Midwest that have forced farmers to adopt new acreage plans.

The changes will be costly, as soybeans typically provide lower returns than corn that is seeded in a timely manner. The lengthy delays have pushed farmers right up to key insurance deadlines that hit on Friday, forcing them to make a decision about what to do with acreage they hoped would have been seeded weeks ago.

May 20, 2013

Monster machines fan out on U.S. farms facing slow sow

SHERIDAN, Illinois (Reuters) – With the U.S. spring planting season off to a historically slow start, an increasing number of farmers are counting on powerful tools to catch up: Monster machines that sow 36 rows of corn at once and feature high-tech innovations like computer-guided directional equipment.

The technological wizardry from companies like Deere & Co and AGCO Corp is pitted in a frantic race against time, with farmers scrambling to get seeds in the ground because a slow start depresses yields and reduces the size of their harvest. Delayed planting in turn can raise prices for food processors, livestock feeders, and ethanol producers, leading to eventual increases in food and fuel costs nationwide.

Apr 29, 2013

U.S. corn planting pace ties slowest on record

CHICAGO, April 29 (Reuters) – Rain around the U.S. Midwest
kept farmers out of fields last week matching the slowest corn
planting pace ever, government data released on Monday showed.

The weather also took a toll on the developing winter wheat
crop, which deteriorated to its worst condition for this time of
year in 17 years.

Apr 29, 2013

Revamped CBOT trading day splits morning burst in two

CHICAGO, April 29 (Reuters) – Traders at the Chicago Board
of Trade have been reluctant to adopt the exchange’s new
starting time, reducing the depth of the market early in the
session and roiling plans to boost liquidity as the opening
burst has been split in two.

The exchange’s modified trading schedule, launched three
weeks ago, is failing to attract big volumes at the open as some
traders prefer to wait until the traditional starting time,
which is an hour after the opening bell, before booking new
deals.

Apr 17, 2013

Interim payment approved for Peregrine bankruptcy trustee

CHICAGO, April 17 (Reuters) – The trustee in charge of
returning funds to customers of scandal-ridden Peregrine
Financial Group will receive an initial payment of $1.23 million
for his role in unwinding the failed brokerage, a U.S.
Bankruptcy Court judge ruled Wednesday.

U.S. bankruptcy code allows for the court-appointed trustee,
Chicago lawyer Ira Bodenstein, to receive a commission of up to
3 percent of the $123.3 million that has been returned to former
brokerage customers. The returned monies represents less than
one-third of the funds customers had deposited with the futures
broker when the firm collapsed and the accounts were frozen last
July.

Mar 22, 2013

Higher volume expected, in time, after CME cuts grain futures hours

CHICAGO, March 22 (Reuters) – CME Group’s plan to
scale back its trading day for grain contracts will likely
provide a boost to volume and liquidity, but traders said it
will take time for investors to return to the market.

“I think if they compress the hours again … it serves the
needs of the customers that actually use this market,” said
Chris Robinson, senior trader at Top Third Ag Marketing. “I
think it is going to be good for the markets.”

Mar 8, 2013

U.S. farmers stick with corn planting plans despite price drop

* New crop price corn declined 7.1 percent in Jan/Feb

* Price drop second biggest of last 10 years

* Farmers locked in acres last fall with fertilizer
application

By Mark Weinraub

CHICAGO, March 8(Reuters) – Recent declines in U.S. corn
futures prices have failed to dent growers’ enthusiasm for
planting the feed grain this spring, even though soybean prices
have outperformed corn, farmers and analysts said.

Crop insurance guarantees, money spent on fertilizer and
recent rainy weather in key growing areas have cemented the
acreage decisions that farmers made in the fall.

    • About Mark

      "I cover grain futures out of Chicago, with a focus on the wheat market. Examining the effects of world crop production on prices and the vagaries of export demand for U.S. supplies takes up most of my time. Previously, I was a reporter on the equities desk in New York and I got my start as a news assistant in the Washington Bureau."
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