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CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT

 
Sleeping Giant
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08/09/2012 09:35 AM

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CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Corn for December delivery rose 16 cents, or 2 percent, to $8.165 per bushel. November soybeans rose 15.5 cents, or 1 percent, to $15.812 per bushel.

Prices for soybeans and corn have climbed all summer as a devastating drought wreaks havoc on crops. Analysts predict it could soon start affecting prices that shoppers pay in the grocery store. They'll have more clarity Friday, when the U.S. Department of Agriculture releases updated predictions on production for corn and soybeans and other crops.

Some analysts think the government is bound to step in decisively if the drought gets worse, perhaps helping farmers pay to bring in water, but it's not clear how much that would help. Rain in parts of the Midwest did raise hopes this week that some of the soybean crop can be salvaged. But some analysts believe that the corn crop, which is planted earlier and is further into its season, is beyond rescue.

No matter what the government does, it's crucial for people to adjust their demands for corn accordingly, Barclays analyst Sudakshina Unnikrishnan wrote in a note to clients Wednesday.

Sometimes, when the price of corn is rising, people who use it to feed livestock can buy wheat instead. But the price of wheat is also rising. On Wednesday, September wheat rose 10.25 cents, or roughly 1 percent, to $8.9925 per bushel.

"Friday's USDA supply estimates will catch the headlines," Unnikrishnan wrote, "but how the USDA deals with the necessary issue of demand rationing will be the key issue."

[link to www.breitbart.com]
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Resister

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08/09/2012 09:55 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
It won't be too much longer and prices at the local grocery store are going to skyrocket.
"God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787
[link to line-in-the-sand.spam]
Sleeping Giant (OP)
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08/09/2012 10:03 AM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
It won't be too much longer and prices at the local grocery store are going to skyrocket.
 Quoting: Resister


Yes, I agree. It's going to get real bad. What isn't made from corn or soybeans anymore?
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Laura Bow

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08/09/2012 10:04 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Corn for December delivery rose 16 cents, or 2 percent, to $8.165 per bushel. November soybeans rose 15.5 cents, or 1 percent, to $15.812 per bushel.

Prices for soybeans and corn have climbed all summer as a devastating drought wreaks havoc on crops. Analysts predict it could soon start affecting prices that shoppers pay in the grocery store. They'll have more clarity Friday, when the U.S. Department of Agriculture releases updated predictions on production for corn and soybeans and other crops.

Some analysts think the government is bound to step in decisively if the drought gets worse, perhaps helping farmers pay to bring in water, but it's not clear how much that would help. Rain in parts of the Midwest did raise hopes this week that some of the soybean crop can be salvaged. But some analysts believe that the corn crop, which is planted earlier and is further into its season, is beyond rescue.

No matter what the government does, it's crucial for people to adjust their demands for corn accordingly, Barclays analyst Sudakshina Unnikrishnan wrote in a note to clients Wednesday.

Sometimes, when the price of corn is rising, people who use it to feed livestock can buy wheat instead. But the price of wheat is also rising. On Wednesday, September wheat rose 10.25 cents, or roughly 1 percent, to $8.9925 per bushel.

"Friday's USDA supply estimates will catch the headlines," Unnikrishnan wrote, "but how the USDA deals with the necessary issue of demand rationing will be the key issue."

[link to www.breitbart.com]
 Quoting: Sleeping Giant

Hmmmmm...sounds like bad things coming very soon...
Laura Bow

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08/09/2012 10:05 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
It won't be too much longer and prices at the local grocery store are going to skyrocket.
 Quoting: Resister


Can you imagine what would happen to any type of restaurant? Pople aren't going to be able to afford to eat out...what will happen to all those businesses? Talk about a downward spiral...
Sleeping Giant (OP)
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08/09/2012 10:06 AM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
It won't be too much longer and prices at the local grocery store are going to skyrocket.
 Quoting: Resister


Can you imagine what would happen to any type of restaurant? Pople aren't going to be able to afford to eat out...what will happen to all those businesses? Talk about a downward spiral...
 Quoting: Laura Bow


Sounds like more opportunity to introduce GMOs grown in a lab. Cheaper than the real thing, of course.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Anne O'Mally

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08/09/2012 10:31 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
[link to moneymorning.com]
worth my weight in squirrels.
Laura Bow

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08/09/2012 10:33 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
It won't be too much longer and prices at the local grocery store are going to skyrocket.
 Quoting: Resister


Can you imagine what would happen to any type of restaurant? Pople aren't going to be able to afford to eat out...what will happen to all those businesses? Talk about a downward spiral...
 Quoting: Laura Bow


Sounds like more opportunity to introduce GMOs grown in a lab. Cheaper than the real thing, of course.
 Quoting: Sleeping Giant


How disgusting. I saw something in my local news this morning too about Monsanto giving some "rural education" grant to schools, kind of funny considering they like to run over small farmers.
Resister

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08/09/2012 11:00 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
It won't be too much longer and prices at the local grocery store are going to skyrocket.
 Quoting: Resister


Can you imagine what would happen to any type of restaurant? Pople aren't going to be able to afford to eat out...what will happen to all those businesses? Talk about a downward spiral...
 Quoting: Laura Bow


Dominos. Restaurants are very dependant on both food prices and the available disposable income in the area. When they go down unemployment goes up which means less disposable income. It's a nasty spiral.
"God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787
[link to line-in-the-sand.spam]
Anonymous Coward
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08/09/2012 11:19 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Corn for December delivery rose 16 cents, or 2 percent, to $8.165 per bushel. November soybeans rose 15.5 cents, or 1 percent, to $15.812 per bushel.

Prices for soybeans and corn have climbed all summer as a devastating drought wreaks havoc on crops. Analysts predict it could soon start affecting prices that shoppers pay in the grocery store. They'll have more clarity Friday, when the U.S. Department of Agriculture releases updated predictions on production for corn and soybeans and other crops.

Some analysts think the government is bound to step in decisively if the drought gets worse, perhaps helping farmers pay to bring in water, but it's not clear how much that would help. Rain in parts of the Midwest did raise hopes this week that some of the soybean crop can be salvaged. But some analysts believe that the corn crop, which is planted earlier and is further into its season, is beyond rescue.

No matter what the government does, it's crucial for people to adjust their demands for corn accordingly, Barclays analyst Sudakshina Unnikrishnan wrote in a note to clients Wednesday.

Sometimes, when the price of corn is rising, people who use it to feed livestock can buy wheat instead. But the price of wheat is also rising. On Wednesday, September wheat rose 10.25 cents, or roughly 1 percent, to $8.9925 per bushel.

"Friday's USDA supply estimates will catch the headlines," Unnikrishnan wrote, "but how the USDA deals with the necessary issue of demand rationing will be the key issue."

[link to www.breitbart.com]
 Quoting: Sleeping Giant


The key words are "Demand Rationing". Lets start with getting rid of ethanol production that consumes nearly half of the corn crop in a "normal" year. Alternatively, there will simply not be enough to go around and how many will already go hungry from a lack of US grain exports?
Sleeping Giant (OP)
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08/09/2012 11:50 AM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Corn for December delivery rose 16 cents, or 2 percent, to $8.165 per bushel. November soybeans rose 15.5 cents, or 1 percent, to $15.812 per bushel.

Prices for soybeans and corn have climbed all summer as a devastating drought wreaks havoc on crops. Analysts predict it could soon start affecting prices that shoppers pay in the grocery store. They'll have more clarity Friday, when the U.S. Department of Agriculture releases updated predictions on production for corn and soybeans and other crops.

Some analysts think the government is bound to step in decisively if the drought gets worse, perhaps helping farmers pay to bring in water, but it's not clear how much that would help. Rain in parts of the Midwest did raise hopes this week that some of the soybean crop can be salvaged. But some analysts believe that the corn crop, which is planted earlier and is further into its season, is beyond rescue.

No matter what the government does, it's crucial for people to adjust their demands for corn accordingly, Barclays analyst Sudakshina Unnikrishnan wrote in a note to clients Wednesday.

Sometimes, when the price of corn is rising, people who use it to feed livestock can buy wheat instead. But the price of wheat is also rising. On Wednesday, September wheat rose 10.25 cents, or roughly 1 percent, to $8.9925 per bushel.

"Friday's USDA supply estimates will catch the headlines," Unnikrishnan wrote, "but how the USDA deals with the necessary issue of demand rationing will be the key issue."

[link to www.breitbart.com]
 Quoting: Sleeping Giant


The key words are "Demand Rationing". Lets start with getting rid of ethanol production that consumes nearly half of the corn crop in a "normal" year. Alternatively, there will simply not be enough to go around and how many will already go hungry from a lack of US grain exports?
 Quoting: Anonymous Coward 21581832


Then I heard what sounded like a voice among the four living creatures, saying, "A quart of wheat for a day's wages, and three quarts of barley for a day's wages, and do not damage the oil and the wine!"

Rev. 6:6
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Sleeping Giant (OP)
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08/09/2012 11:56 AM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
bumpity
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
indiandave

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08/09/2012 11:56 AM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Pretty soon only the rich will be eating well. We'll be fighting over table scraps with the dogs.
Sleeping Giant (OP)
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08/09/2012 11:57 AM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Pretty soon only the rich will be eating well. We'll be fighting over table scraps with the dogs.
 Quoting: indiandave


It's not a coincidence the FEDS are going after farmers, especially the organics.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
WHO CARES
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08/09/2012 11:58 AM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
NOVELTY THEORY ENDS ABRUPTLY. DOESN'T MATTER WHAT THEY SAY, DOESN'T MATTER WHAT THEY DEW.
Laura Bow

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08/09/2012 02:07 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
bump
Anonymous Coward
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08/09/2012 02:12 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
The problem is not so much the drought but our over-reliance on this single crop.
Sleeping Giant (OP)
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08/09/2012 02:13 PM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
bump
 Quoting: Laura Bow


Thanks for the bump
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Anonymous Coward
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08/09/2012 02:14 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
the lunacy of turning corn into motor fuel becomes ever more obvious and ever more outrageous.
Sleeping Giant (OP)
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Stockpiles of the biggest crops will decline for a third year as drought parches fields across three continents, raising food-import costs already forecast by the United Nations to reach a near-record $1.24 trillion.

Combined inventories of corn, wheat, soybeans and rice will drop 1.8 percent to a four-year low before harvests in 2013, the U.S. Department of Agriculture estimates. Crops in the U.S., the biggest exporter, are in the worst condition since 1988, heat waves are battering European crops and India’s monsoon rainfall already is 20 percent below normal. The International Grains Council began July by forecasting record harvests. It ended with a prediction for a 2 percent drop in output.

The speed of the destruction drove corn prices to a record today and soybean prices to an all-time high last month, while wheat went to a four-year high. For investors, crops are the best-performing commodities this year, and Goldman Sachs Group Inc., Macquarie Group Ltd. and Credit Suisse Group AG say the trend will continue. An index of 55 food items tracked by the United Nations’ Food & Agriculture Organization jumped 6.2 percent in July, the biggest increase since November 2009, the Rome-based agency reported today, less than two years after record prices pushed 44 million people into extreme poverty and contributed to uprisings in North Africa and the Middle East.

[link to www.bloomberg.com]
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Anonymous Coward
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08/09/2012 02:15 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
the lunacy of turning corn into motor fuel becomes ever more obvious and ever more outrageous.
 Quoting: Anonymous Coward 21611188


corn ethanol mandates imposed by Congress are distorting the market, which will mean higher prices for everything from milk to cheeseburgers.
Anonymous Coward
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08/09/2012 02:17 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
the lunacy of turning corn into motor fuel becomes ever more obvious and ever more outrageous.
 Quoting: Anonymous Coward 21611188


corn ethanol mandates imposed by Congress are distorting the market, which will mean higher prices for everything from milk to cheeseburgers.
 Quoting: Anonymous Coward 21611188


This year, about 4.3 billion bushels of corn will be converted into motor fuel, That’s nearly 37 percent of this year’s corn crop. America ‘s corn ethanol sector now consumes about as much grain as all of this country’s livestock.
Sleeping Giant (OP)
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
the lunacy of turning corn into motor fuel becomes ever more obvious and ever more outrageous.
 Quoting: Anonymous Coward 21611188


corn ethanol mandates imposed by Congress are distorting the market, which will mean higher prices for everything from milk to cheeseburgers.
 Quoting: Anonymous Coward 21611188


This year, about 4.3 billion bushels of corn will be converted into motor fuel, That’s nearly 37 percent of this year’s corn crop. America ‘s corn ethanol sector now consumes about as much grain as all of this country’s livestock.
 Quoting: Anonymous Coward 21611188


Wow, I did not know that, thanks.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Anonymous Coward
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08/09/2012 02:18 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Stockpiles of the biggest crops will decline for a third year as drought parches fields across three continents, raising food-import costs already forecast by the United Nations to reach a near-record $1.24 trillion.

Combined inventories of corn, wheat, soybeans and rice will drop 1.8 percent to a four-year low before harvests in 2013, the U.S. Department of Agriculture estimates. Crops in the U.S., the biggest exporter, are in the worst condition since 1988, heat waves are battering European crops and India’s monsoon rainfall already is 20 percent below normal. The International Grains Council began July by forecasting record harvests. It ended with a prediction for a 2 percent drop in output.

The speed of the destruction drove corn prices to a record today and soybean prices to an all-time high last month, while wheat went to a four-year high. For investors, crops are the best-performing commodities this year, and Goldman Sachs Group Inc., Macquarie Group Ltd. and Credit Suisse Group AG say the trend will continue. An index of 55 food items tracked by the United Nations’ Food & Agriculture Organization jumped 6.2 percent in July, the biggest increase since November 2009, the Rome-based agency reported today, less than two years after record prices pushed 44 million people into extreme poverty and contributed to uprisings in North Africa and the Middle East.

[link to www.bloomberg.com]
 Quoting: Sleeping Giant

Genetically engineered sweet corn from Monsanto is headed for Walmart store shelves, the first GE product to travel from farms directly to consumer plates.
Anonymous Coward
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08/09/2012 02:19 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
the lunacy of turning corn into motor fuel becomes ever more obvious and ever more outrageous.
 Quoting: Anonymous Coward 21611188


corn ethanol mandates imposed by Congress are distorting the market, which will mean higher prices for everything from milk to cheeseburgers.
 Quoting: Anonymous Coward 21611188


This year, about 4.3 billion bushels of corn will be converted into motor fuel, That’s nearly 37 percent of this year’s corn crop. America ‘s corn ethanol sector now consumes about as much grain as all of this country’s livestock.
 Quoting: Anonymous Coward 21611188


Wow, I did not know that, thanks.
 Quoting: Sleeping Giant


Current rules stipulate that nearly 10% of the nation's gasoline supply come from corn-based ethanol. To make that ethanol, up to 40% of the country's annual corn production can be required.
Anonymous Coward
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08/09/2012 02:21 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
The oil industry doesn't like it because it's a competing product that takes market share away from them. Livestock producers don't like it because they feel it drives up the price of corn, which is used to feed cows, chicken and pigs. Many in the environmental community don't like it either. They doubt whether corn-based ethanol is really any easier on the planet than conventional gasoline, as the land required to grow it results in deforestation. They also feel higher corn prices likely contribute to global hunger, at least marginally.
Charlie Scene

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08/09/2012 02:21 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
I believe theres an old book.....it predicted we would need a wheelbarrow full of money for a loaf of bread.....

Maybe more people should pay attention to said book.

Last Edited by *Evan on 08/09/2012 02:22 PM
Anonymous Coward
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08/09/2012 02:22 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
.
.
.
.
Wheres Eddie Murphy when you need him?
Sleeping Giant (OP)
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08/09/2012 02:23 PM

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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
I believe theres an old book.....it predicted we would need a wheal barrow full of money for a loaf of bread.....

Maybe more people should pay attention to said book.
 Quoting: Charlie Scene


horseman
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22
Anonymous Coward
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08/09/2012 02:27 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
The ethanol industry, backed by the Obama administration.
Why did farmers plant 96 million acres of corn this year?
The answer is simple: ethanol
Anonymous Coward
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08/09/2012 02:30 PM
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Re: CORN, SOYBEANS KEEP CLIMBING AHEAD OF USDA REPORT
Whose corn is it? Should the Obama administration suspend the federal Renewable Fuels Standard for ethanol production to provide relief to producers hurting from rising feed costs?

Given the RFS mandate, as much as 40% of the total corn harvest could end up in ethanol production. That would push the cost of feed even higher and ultimately raise meat prices for consumers.

Doesn't anybody care?