Climateer Investing: UPDATED--Ahead of Today's Release, Here's the Headline from the Last USDA Report "Grain futures plunge as US supplies beat forecasts"

Friday, June 28, 2013

UPDATED--Ahead of Today's Release, Here's the Headline from the Last USDA Report "Grain futures plunge as US supplies beat forecasts"

Update: Grains Plummet on USDA Reports
Original post:

Is it any wonder that yesterday's story was "Commodities-- Tomorrow's USDA Inventory Numbers and the Intentions Survey: 'We Hate This Report"?'

Here's the most recent drought monitor map, the corn belt is is the best shape it's seen in a couple years and even Nebraska and Kansas are showing some improvement so the fear is: Bumper Crop.
More after the report comes out.
Corn down 7.25 cents at $5.3125; Wheat up 1.5 cents at $6.7525; Soybeans at $12.6850.

Here are the 6 and 12-week animations if you are curious about the progress.
See also Wednesday's "Deutsche slashes hopes for corn, soybean prices".