USDA Supply and Demand Estimates

MARKET OUTLOOK & ADVICE

CORN Corn futures traded lower on Wednesday.: Corn futures traded lower on Wednesday. The market was pressured by spillover weakness from wheat, seasonal harvest pressure and profit-taking from recent gains ahead of the USDA reports due out on Friday. Traders are looking for USDA to lower the production estimate compared to August, but this has already largely been priced into the market. December ended 3 3/4 cents lower at $4.62 1/2 and March was 3 3/4 cents lower at $4.76.

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SOYBEANS Soybean futures closed lower on Wednesday.: Soybean futures closed lower on Wednesday. Futures trade was mixed today, but prices were pulled lower into the close by weakness in wheat. The market was supported at times by strong export demand. USDA reported the sale of 115,000 metric tons of U.S. soybeans to China. Soybean oil helped rally the soy complex on Tuesday, but profit-taking pulled prices lower today. November ended 3 1/4 cents lower at $10.48 1/4 and January was 3 1/4 cents lower at $10.58 1/4.

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WHEAT Wheat futures closed strongly lower on Wednesday.: Wheat futures closed strongly lower on Wednesday. Profit-taking from recent gains and Egypt's purchase of French wheat over U.S. supplies weighed on futures trade. In addition, Statistics Canada reported Canadian wheat stocks are up 19% from last year and well above trade expectations. CBOT Dec was 24 1/4 cents lower at $7.11, KCBT Dec ended 18 1/2 cents lower at $7.34 1/2 and MGE Dec closed 20 1/2 cents lower at $7.33 1/4.

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CATTLE Cattle futures closed higher on Wednesday.: Cattle futures closed higher on Wednesday. The futures market bounced off of the strong losses from Tuesday amid strength in the cash market and boxed beef prices. Cash trade developed in the Plains at $98, up $1 from the bulk of trade last week. Choice and select beef prices at midday were up 23 cents. October ended 90 cents higher at $97.25 and December was $1 higher at $99.70.

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HOGS Lean hog futures traded higher on Wednesday.: Lean hog futures traded higher on Wednesday. Firm cash markets, the discount of futures to cash and short-covering from the sell-off on Tuesday supported the futures market. Packer margins remain favorable despite the recent decline in pork prices. Pork prices have fallen over $6 since hitting record highs two weeks ago. October closed 70 cents higher at $76.30 and December was 70 cents higher at $74.25.

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COTTON Cotton futures settled lower Wednesday.: Cotton futures settled lower Wednesday. Profit taking pressured prices after the market rallied to a fresh high on Tuesday. Traders are positioning themselves ahead of Friday's USDA reports, which are expected to show a slight reduction in the crop and ending stocks. December was down 62 points at 90.56 cents.

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SORGHUM

GENERAL AG NEWS

September 08, 2010 3:45pm
Poll: Rural Nebraskans still tied to agriculture
More than half of rural Nebraskans are one generation or less removed from farming or ranching and more than three-fourths say their economic well-being is at least somewhat tied to agriculture, according to the 2010 Nebraska Rural Poll.
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MARKET MOVER NEWS

SPECIAL FEATURES

AUDIO

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Doane Economists Marty Foreman and Bill Nelson Talk about this year's Crop Tour.

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Johanns: Farmers Do Not Believe Climate Change Estimates — Senator and former USDA Secretary Mike Johanns says farmers do not believe USDA estimates that climate change legislation will be profitable for the ag sector.

updated 7/15/2010

DOANES DATA DASHBOARD

Corn and Global Feedgrains
Soybeans and Global Oilseeds
U.S. and Global Wheat
Rice
Cotton
Wheat Stocks by Class
Current 2010/2011 Wheat Prices Versus History and USDA Forecast -- updated 9/3/2010
Current 2010/2011 Corn Prices Versus History and USDA Forecast -- updated 9/3/2010
Current 2010/2011 Soybean Prices Versus History and USDA Forecast -- updated 9/3/2010
Latest Milk Production Report-- updated 8/24/2010
Latest Cattle on Feed Report Analysis and Forecasts -- updated 7/23/2010
Latest Hogs & Pigs Report Analysis and Forecasts-- updated 6/29/2010

GUEST COLUMN / CROP TALK

Watch Cercospora Leafspot In Sugarbeets
Cercospora is generally more severe than it has been over the past 10 years. more»

PRICES & CHARTS

Market Data provided by Barchart.com

FOR WHEAT GROWERS ONLY: With release last week of the complete genome for wheat, biotech researchers are excited about reinvigorating research on genetically-enhanced wheat varieties. Which answer below best describes your view on GM wheat today?

So long as I don't have any problem selling it without discounts to non-GMO prices, I'll be among the first to try a GM variety that appeals to me.

I'll stick with conventional varieties through at least the first season and see if the new varieties live up to their promises.

I'd rather see U.S. export competitors adopt GM wheat first, and gauge import country reaction, before any GM wheat varieties are introduced in the U.S.

Last Week's Poll Results

To help us anticipate if we might see a "demand" surge in fertilizer with price implications this fall, what answer below BEST describes your intentions or situation today?
Not much change in application intentions, but I've already booked more of it than I normally have at this time.
50.5%

I will use the same or more ammonia than last fall.
26.7%

I will use the same or more phosphate than last fall.
11.4%

I will use the same or more potash than last fall.
11.4%