Home Farm Equipment Farmers expect no good news from USDA

Farmers expect no good news from USDA

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In the case of an upcoming USDA report, it seems a whole lot of Farm Progress PANEL members are skeptics if not cynics concerning the knowledge to be launched June 30. Within the newest PANEL, we needed to gauge your temper forward of the report. The survey was accomplished earlier than the massive rains this weekend.

We requested the next: What’s your guess on the tone of the USDA report on June 30?

A majority – 43% – of respondents say the report will probably be bearish corn and soybeans. Costs, whereas a lot larger than in 2020, have slipped every time there’s the looks of rain on radar. On this case, respondents could also be saying that USDA numbers will present crops in higher form the these weekly progress reviews.

Simply over one-quarter of respondents – 28% – apparently see the market glass as half full and say that the report will probably be bullish corn and soybeans. The demand image from China for each crops continues robust, and costs are nonetheless properly into worthwhile ranges, even with some latest drops.

The final two questions checked out blended responses by USDA. And respondents have been blended as properly with practically equal numbers of respondents coming in on reverse sides of an identical query.

About 15% say the report will probably be bullish soybeans and bearish corn. Given continued demand for soybeans and a number of the climate that is hit the crop, it seems these respondents see extra alternative for value boosts with the report.

About 14% responded they’re bearish soybeans however bullish corn. Be aware the demand image for corn additionally seems constant, however that crop has suffered some setbacks from the lingering drought in key components of the Corn Belt (and floods in different components).

As with all USDA report, the market and farmers await the numbers at 11 a.m., June 30. If you wish to know these numbers after they come out, you possibly can join a cellular textual content alert service Farm Progress NOW. Simply textual content FARM to 20505, then reply to the textual content you get again. That approach, you will get a hyperlink to these USDA numbers quickly after they arrive out.

Due to everybody who responded to those PANEL questions.

Be part of the PANEL

The Farm Progress PANEL is your probability to share your ideas on key points. To participate, begin by signing up for our each day cellular textual content service Farm Progress NOW, we famous above. Later in one among our each day texts we’ll present details about how to enroll in the PANEL. And because of the respondents for serving to us out.

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