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Thursday, May 05, 2016

Wake Up Call Allendale Advisory Center

Wake Up Call Allendale Advisory Center: Grain market are mixed as soybeans and corn find support from additional analysts projecting decline in South American crop. Tour results weighs on wheat. The US Dollar and crude oil regain some of recent losses.

USDA will release their first look at the balance sheet for 2016/17 crop year next Tuesday. They are expected to use the acres released on March 31. The question is what changes they will make to the 168 yield they used at the February outlook meeting. Trade is looking for some larger ending stocks than seen in 2015/16 marketing year.

Stats Canada will release their stocks estimate as of March 31, 2016 for major grains and oilseeds on Friday morning.