Local

Market Traders Disappointed By USDA Report

Market Traders Disappointed By USDA Report

USDA’s June supply and demand report disappoint market traders.  The agency left soybean acreage, production and ending stocks numbers unchanged from May.  They also left acreage unchanged on corn, lowered yield 1.5 bushels per acre with the delayed plantings and lowered new crop ending stocks to 1.95 billion bushels.   Randy Martinson with Progressive Ag in Fargo, North Dakota says USDA chose to make their acreage revisions in the June 28 report.

USDA lowered new crop ending stocks by 11 million bushels from the May report, but the trade was expecting a bigger cut.   And Martinson says he was surprised the agency increased hard red winter wheat production 2-percent, which bumped all wheat production to 2.08 billion bushels.

New crop world ending stocks were lowered slightly for corn and soybeans.  However, WASDE cut world wheat carryout by 5 million metric tons to reflect the dryness in Russia and Ukraine

PlayPlay

Recent Headlines

25 mins ago in Local

Concerns Grow That New Tax Money Will Be Misused

Fresh
Money Coins

A Rapid City legislator says she is concerned that the money from new taxes passed this year may not go where they are intended.

50 mins ago in Local

South Dakota Legislative Summer Study Includes Medicaid Finance

Fresh
Medical Stethoscope

One of the summer studies for the South Dakota legislature this year will be the finances of Medicaid providers.

55 mins ago in National

Making headlines this week

Fresh
kansasweatherAP

A look back at some of the biggest newsmakers this week and the headlines you may have missed.

7 hours ago in Agriculture

EWG Stands By Farm Subsidy Report Rich Get Richer

money one hundred dollar bill

The Environmental Working Group is standing by its recent report the Rich Get Richer that claims 50 American billionaires are…

7 hours ago in Agriculture

Farm Policy Facts Coalition Challenging EWG Report

corn1

A newly formed farm coalition is challenging a recent report issued by the Environmental Working Group. The EWG report titled…