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Serving: United States
Mid-year report: Weather, corn, soybeans, input prices, commodity prices

Mid-year report: Weather, corn, soybeans, input prices, commodity prices

Rabobank has released a mid-year agribusiness review, highlighting the economy, weather and growing conditions, margins and prices, grain stocks, global imports and exports and more. Some highlights include:

  • The likelihood of experiencing and El Nino cycle increases every day, which would prove very bearish to grain prices.
  • Cash markets associated with corn exports continue to be the top bidder for old-crop corn. The U.S. has an unusual 430 million bushels of outstanding corn sales in week 39 (65% higher than the three-year average). Cash prices are expected to remain better in the exports draw areas around the Mississippi, Illinois and Ohio rivers.
  • The tightness in old-crop soybeans continues to be the story for commodity markets. U.S. soybean exports are at record-high levels and year-to-date NOPA crush is running at the third highest pace on record.
  • Ammonia, DAP and potash prices continue to be below the three-year average in 2014.

Read and download the report from Rabobank (pdf).

You should also read:

Are soybeans headed for $10

USDA grain stocks and acreage recap

Are farm land values headed for a downturn?

TAGS: Soybean Corn
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