Clean Energy Futures

All about market futures in the green energy industry
Crop Progress 11/4

Good afternoon friends

Crop progress was just released, you can find it HERE. The report shows corn harvest fell further behind pace as the report missed expectations while soybeans were pretty much right on the guess.  I don’t think the data causes a huge turnaround, but I do expect corn prices to be up in the overnight.

Corn is 52% harvested, the trade was expecting 58%.  Northern states lag with North Dakota well behind in both corn and beans. Eastern states saw their lag extended due to a week of wet weather .  Last year at this time the crop was 75% harvested, which is the 5 year average.  Soybean harvest is 75% complete, about a week behind average so you can probably expect corn to pick up as the weather drys out and bean harvest completes. The next 7 days will provide a dry window to move forward.

Oddly, corn ratings remain on the report (no ratings for beans and cotton)- coming in at 58% G/E which is where they were last week. I do not expect a major reduction in yields for corn or soybeans in the coming report, a small reduction is likely in my opinion.

Cotton harvest is 53% complete vs 51% on average. Texas is 42% complete vs 51% average.  Weather in West Texas is a bit sketchy over the middle part of this week as forecasters are calling for storms between the panhandle and Arkansas over the next week.  This won’t be helpful for cotton producers but it will help wheat conditions.

Winter wheat is 89% planted, on pace virtually everywhere which is amazing considering the slow harvest.  The crop conditions are solid from a nationwide perspective (57% G/E vs 51% last year) but there are areas that need monitoring.  Texas is off to a poor start with 26% of the crop rated poor or very poor.  Out east, Illinois has 29% rated p/vp, Indiana is at 13% and Ohio is at 12%.


This Week In Grain

Subscribe to This Week In Grain

This Week In Grain – This Week in Grain (T.W.I.G.) is a weekly grain and oilseed commentary newsletter designed to keep grain market participants on the cutting edge, so they can hedge or speculate with more confidence and precision.

Contact Daniels Trading

To open an account or request more information, contact us at (800) 800-3840 or and mention .

Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the “risk disclosure” webpage accessed at at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

About Alec Torrey

Leave comment

Your email address will not be published. Required fields are marked with *.