From the Desk of – Todd Parker – Penny-Newman Grain
Cottonseed prices are unchanged to start the week. Origin values have traded sideways for the second week. Texas is at $260 old and $250 new, The Delta States are at $225 old and $215 new, and the Eastern States are Read More
Margins improved significantly over the first half of May following a strong recovery in milk prices due to optimism stemming from
government intervention to aid the dairy sector. USDA announced that it would spend $317 million between May 15 and June 30 on
dairy products, and $175 million for food donation Read More
COTTON estimates for 2019/20 are unchanged, except for a 1 cent-per pound reduction in the season-average upland farm price, to 62 cents, 8.3 cents lower than in 2018/19. Globally, the 2019/20 world cotton ending stocks forecasts is bumped higher by +2.5-million-bales driven by both larger production and lower consumption. Read More
Soybean bulls are talking about the same thing as corn bulls… a large winter storm forecast to hit the North and an extremely late-maturing U.S. crop. The USDA reported just 14% of the corp has been “harvested” vs. 34% on average. Iowa 5% harvested vs. 26% on average; Illinois Read More
Note this is where we have gone with Soymeal since January and we still have about $40.00 to go…..
Grains
Grain prices this morning are mixed with Mar corn unch, Mar soybeans -1.75 (-0.17%), Mar wheat +0.25 (+0.06%). Grains on Wednesday settled mixed: Mar corn +0.25 (+0.07%), Mar soybeans +7.75 (+0.75%), Mar wheat -2.00 (-0.45%). Bullish factors included (1) drought concerns in Argentina, the world’s largest soybean Read More
