Tag: Third Street Ag
| |Commentary provided by Chad Burlet of Third Street AG Investments With only one trading day left in February, it’s clear that the spring acreage fight has captured the market’s attention. While old crop corn and soybeans struggled near highs that were set weeks ago, November soybeans and December corn raced to new contract highs yesterday. Through today’s close December corn has gained 21 cents on March corn and November soybeans have gained 52 cents on March soybeans. On February 18-19 the USDA held its annual Agricultural Outlook Forum. This event always provides the USDA’s first look at the supply and demand … Read more February 2021 Grain Market Commentary
| |This summer’s theme could well have been: How low can they go? The “they” was supply and demand. Unfortunately, the competition looked more like a cage match than a limbo contest. In that analogy the heavyweight match was certainly Prevent Plant (PP) versus African Swine Fever (ASF) … Read more Third Street Ag – How low can they go?
| |U.S. farmers planted the final eight million acres of corn and soybeans in July. While that is a record and clearly the lead story for the agricultural markets, it was also the lead story in May and June. As most of the U.S. experienced better than expected weather in July, the markets appeared to grow weary of the “Record Slow Planting” story as the month went on. The futures markets for corn, wheat and soybeans all followed the same path: putting in their highs mid-month and then closing the month on their lows. All three markets were helped higher by the bullish wheat surprise in the July 11th WASDE report. The USDA cut their production estimate for our five major exporting competitors by a combined 10 million metric tons (MMT). Chicago wheat futures quickly rallied 25 cents and the other markets followed … Read more Third Street AG July Commentary