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Tag Archives: commodities

FRIENDLY CROP REPORT

USDA’s latest World Ag Supply and Demand Estimates report pegged ending stocks of soybeans at 550 million bushels, down 5 million bushels from last month, while cutting expectations for Argentina’s soy production. Corn stock estimates went up less than expected, sending the markets on a rally. (FarmWeekNow.com)

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MORGAN STANLEY CUTS FORECASTS

Morgan Stanley cut its estimate for corn to $3.90 a bushel in 2014-2015 from $4.35 in October and for soybeans to $9 a bushel from $10.10, according to analysts Bennett Meier and Lee Jackson. Wheat was lowered to $5.40 a bushel from $5.75.

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AG INVESTMENT DOWN

Bloomberg News reports the investment binge in U.S. agriculture funds has ended as record crops and the promise of improving meat supplies send prices plunging. After taking in more money than precious metals or energy funds during the first five months of 2014, exchange-traded products backed by agriculture had a net outflow for the year… read more

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WHY THE DIFFERENCE

The U.S. Energy Information Administration says rail service in the northern tier states has been totally consumed with oil shipments, approaching the rate of 16,000 railcars per week. Similar data on grain cars is unavailable.

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SPECULATION IS BAD

Pope Francis criticized the wealth made from financial speculation on Monday as “intolerable” and said speculation on commodities was a “scandal” that compromised the poor’s access to food.

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