Featured Research

Initial Corn Crop Condition Ratings and Yield

May 23, 4:43 pm | Corn

NASS is expected to report initial national crop condition ratings for the 2017 corn crop next week. Individual state crop reports have included ratings as the information has been available, but so far the results have been sharply mixed. GD/EX ratings across the Delta and Southern states have so far been higher to sharply higher, with the largest increase noted in LA, where 85% of the crop is rated as GD/EX, or 39 percentage points higher than a year ago. Farther North, just 51% of the IL crop has been rated good or excellent, versus 69% last year, and ratings in MO are at 52% versus 75% last year. But in other Cornbelt states, 82% of the MN crop is…

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US & World Cotton Supply and Demand

May 19, 4:24 pm |

AgResource discusses this year’s rally in cotton, and also what’s likely to happen in the next several months.

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Brazilian Politics Roil Financial Markets

May 18, 12:15 pm | Brazil, Currency, Soybeans

A Different Year, Same Brazilian Politics: It’s been nearly a year since Brazilian President Dilma Rousseff was impeached, and the country is now facing another presidential crisis. Late Wednesday afternoon a major Brazilian newspaper ran a story of how the current president Michel Temer had been recorded approving a cover up scheme involving bribes the form speaker of the lower house of Congress (currently in prison). When made aware that the former speaker was being bribed to stay silent, Mr. Temer is alleged to have approved the bribes and encouraged them to continue. Following the story release, the Brazilian stock market fell more than 9% on Thursday and the Brazilian currency was was off more than 8% against the US…

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May WASDE Livestock Price Forecast

May 17, 1:54 pm | Cattle, Hogs & Pork

In the May WASDE report, the USDA increased their projection for average hog prices in the 3 remaining quarters by $1 each. Live hog prices in the last 3 months of the year are projected to average in a range of $36-40, or close to the 2016 average of $37. Historically, the accuracy of the USDA’s May price forecast has varied greatly, with a very slight tendency to over estimate price. Since 1989, the May WASDE has overestimated price in 15 years (56%) by an average of $5.70, and underestimated price in 12 years by an average of $4.90. The CME this week is suggesting that the USDA forecast is more than $10 too low (on a live equivalent basis)….

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