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October 1, 2023
2023 Crop Insurance Workshop Presentations
another farmer?
Informal Survey
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MICHIGAN … Change in routine
• Care of livestock declines
• Increase in … Change in routine
• Care of livestock declines
• Increase in …
July 16, 2014
Grain Market Outlook
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I. U.S. Wheat Market Situation & Outlook
I‐A. July 2014 USDA Reports & Projections for “New Crop” MY 2014/15
On July 11, 2014 the USDA released two reports of consequence to wheat market prospects. The USDA
National Agricultural Statistical Service (NASS) released the July 11, 2014 Crop Production report, providing
the third monthly survey‐based projection of 2014 …
December 28, 2017
Grain Market Outlook
up 50
million bushels (mb) to 260 mb for this marketing year ending August 31, 2018. And in a textbook example of
economic “crowding out” – this strong foreign export demand for U.S. grain sorghum has raised domestic
prices and is causing a projected shifting of usage away from U.S. domestic livestock feeding and ethanol
prod …
March 13, 2007
DM)
WDGS (30-35% DM)
Source: Livestock Marketing Information Center … Wet
Modified Wet - Wet
Source: Livestock Marketing Information Center … Access
20032003--04 NASS DGS Survey: 721 IA & MN 04 NASS DGS …
September 15, 2011
Macro and Global Economic Perspectives
livestockslumping demand curtailed livestock
profits
• What is the … Journal August 2011 Forecast Survey (Average)
Consumption … U
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O C
T
C-S-34
09/05/11Livestock Marketing Information CenterLivestock …
Breakout Sessions
first-hand knowledge with livestock
production, Glynn has expertise … Compiled and Analysis by LMIC
Livestock Marketing Information Center
National … Compiled & Analysis by LMIC
Livestock Marketing Information Center
ERS …
Breakout Sessions
activities in crop production and
livestock production at subsistence … funded Agriculture Production Survey conducted in northern Ghana …
September 24, 2010
Energy
Estimates for Grain, Oilseed and Livestock)
http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1194 … milling, feed
manufacturing and livestock feeding industries.
Arguably … its monthly Census Bureau survey to assure that all U.S. corn …
October 22, 2018
Q3.2017
http://agmanager.info/livestock-meat/meat-demand
Glynn … USDA-ERS, Compiled by LMIC
Livestock Marketing Information Center
PerCapCons … USDA-ERS, Compiled by LMIC
Livestock Marketing Information Center
C-P-65A07/25/18
9293
94
95
9697 …
June 15, 2015
Grain Market Outlook
& “New Crop” MY 2015/16 Projections
On June 10th the USDA World Agricultural Outlook Board (WAOB) released its June 2015 World
Agricultural Supply and Demand Estimates (WASDE) report – containing U.S. and World corn supply‐demand
and price projections for the 2013/14, “current” 2014/15, as well as the “new crop” 2015/16 marketing years.
The 2014/15 marketing year will end on August 31, 2015, while the “new crop” 2015/16 U.S. corn marketing
year will begin on September 1, 2015 and will last through August 31, 2016.
In the June 10th WASDE report the USDA released projections for the “new crop” 2015/16 marketing year
for corn, grain sorghum, wheat, soybeans and other major crops. Projections of 2015 crop size for corn are
based on WAOB estimates of crop acreage and yields. However, the first projection of 2015 U.S. corn
production by the USDA National Agricultural Statistics Service (NASS) that will be based on actual farmer
surveys and field trials will be in the August 12, 2015 Crop Production and WASDE reports.
I‐B. Corn Futures Trends for the December 2014‐May 2015 Period
The CME JULY 2015 corn contract is now the “lead” corn futures contract, representing current grain
market price prospects through late June 2015, when the CME SEPTEMBER 2015 corn contract will assume
market leadership. Local basis adjustments are currently being made off JULY 2015 corn futures for spot cash
corn and grain sorghum price bids in North America as well as other World grain markets. The “current crop”
JULY 2015 corn futures market contract initially responded in a “negative” manner to the information in the
June 10th USDA reports, and in the days afterward trended “lower”.
On the day of the report – Wednesday, June 10th – Chicago Mercantile Exchange (CME) JULY 2015 corn
futures prices opened at $3.64 ¾ per bushel, and traded in a range of $3.56 ¾ ‐ $3.66 ½ during the session,
before settling at $3. 57 ¼ – down $0.07 ¾ for the day (Figure 1). The USDA report findings were publicly
released at approximately mid‐session, i.e., 12:00 noon eastern time (11:00 a.m. central) that day. Since then,
JULY 2015 Corn has traded from a high of $3.60 on Thursday, June 11th to a low of $3.52 ¼ on Friday, June 12th
before closing at $3.53 on that same day.
The CME DECEMBER 2015 corn contract is now the lead “new crop” corn futures contract, representing
U.S. corn market price prospects for the mid‐October through late‐November 2015 time period. DEC 2015 is
the futures contract which local basis adjustments are made off of for “fall harvest 2015” corn and grain
sorghum forward contract price bids or hedges. The “new crop” DECEMBER 2015 corn futures market
contract also initially responded “negatively” to the information in the June 10th USDA reports, and since then
has trended “sideways”.
On the day of the report CME DECEMBER 2015 corn futures prices opened at $3.82 per bushel, trading
within the range of $3.74 ¾ ‐ $3.84 ½ during the session, before settling at $3.75 ¼ – down $0.07 ¾ per bushel
for the day (Figure 1). Since then, DECEMBER 2015 corn futures prices have traded from a high of $3.84 ¼ on
Thursday, June 12th to a low or $3.74 ¾ on Friday, June 12th before closing at $3.75 ¼ that same day.
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Figure 1. JULY 2015 and DECEMBER 2015 CME Corn Futures Price Charts (electronic trade) …