BASIC & RECENT MARKET INFO

Tidbits Conservation Reserve Program:  On Wednesday, the USDA announced acceptance of 1.78 million acres into the Conservation Reserve Program (CRP). About 25.8 million acres are currently enrolled in CRP, which is in its 40th year. FSA received offers on more than 2.6 million acres. The program’s total acreage is capped at 27 million acres for fiscal year 2025. About 955,795 acres are expiring on September 30 this year. Producers submitted re-enrollment offers for just over

Highlights ADM’s Joe Mauck’s comments from yesterday afternoon:  "Growing conditions in South America  remain neutral, and precipitation is expected to be average to slightly below average for the next couple weeks. Production estimates for both Brazil and Argentina feels optimistic and could increase over the next 2 months. Thinking about planted acres for next year, corn looks a lot better than beans today.  Despite the cost to plant corn being higher than beans from a cash

Highlights Oil prices posted a second weekly gain as bullish sentiment builds and the prospect of a prolonged price rally becomes increasingly likely according to oilprice.com  analysts.   The fact that the US Federal Reserve has at last initiated a new cycle of monetary easing should have prompted a stronger market response. With a weaker dollar and an improved macro risk outlook, next week could see further upside as crude oil inventories in the United States have dropped t

Highlights The Corn Belt is expected to have above normal rainfall and below normal temperatures the next two weeks. Don't expect soybeans to be higher two weeks from now unless the weather forecast changes. Moscow's Vnukovo airport temporarily halted all flights Sunday due to a failed drone attack just before noon. The Chonhar Bridge is a major connection from Crimea to the battle front in Southern Ukraine for Russia to bring in weapons and troops from Crimea. The bridge w

Q&A: Gas Prices "Roger, do you have a recommendation for fall/winter l.p. prices? The quotes I received yesterday are the lowest ones so far this year and about 70 cents lower than last year. Thanks, Ross" (2 June 2023) Ross, after recommending clients not lock-in diesel, natural gas or propane costs for nearly a year, we made the recommendation to lock-in natural gas on 22 February 2023. The natural gas futures price rallied 8 consecutive days and has been in a modest downt

Highlights Kevin Duling, market advisor and futures broker in Maupin, Oregon (kdinvestors@gmail.com and phone 541 980 4554) said: "The...

Highlights A major winter storm is expected April 3 to 5 from the Central Rockies to the Northern Plains and Upper Midwest, bringing widespread heavy snow and blizzard conditions. The USDA said Friday farmers in Michigan will plant 50,000 more acres of corn this year than in 2022; Minnesota will plant 350,000 more acres of corn; South Dakota will plant 150,000 more and North Dakota will plant 800,000 more acres of corn in 2023 than 2022. That is 1.350 million additional acres

February CBOT options expire today. Highlights Tampa is probably the biggest port for US fertilizer coming and going. Ammonia prices were down 19% yesterday. February AA priced at $790 per mt, down from January’s $975. Natural Gas prices have declined over 50% in just the last 6 weeks, trading at the lowest price since May of 2021. It is possible that the restart of the Freeport LNG plant in Texas will cause US natural gas prices to increase as more pipeline natural gas will

Highlights OPEC+ announced on Monday it will reduce, starting October first, crude oil production by 100,000 barrels per day. OPEC+ is OPEC and Russia. That news jumped crude oil $3 yesterday morning. Natural gas is the primary input cost for nitrogen fertilizer. We reluctantly recommend you get your nitrogen priced for this fall at the very least. Russia said yesterday it will not resume natural gas flow to Europe until sanctions are lifted. Natural gas in Europe was up 25

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