Grain Market Report 25Mar2011

Tanner Sheahan
CPS Tangent

Predicted bid prices for wheat look about the same as yesterday but next year's futures are looking up a little bit at $7.50.

Here's an interesting website by NOAA to see precipitation history in Oregon, you can specify years and months to look at clear back to 1895. This site from Current Results shows averages for various areas in Oregon.  This is a pretty interesting article from The Register-Guard with some anecdotal weather information and some good suggestions for breaking our year up into more seasons in Oregon.  [T]he problem isn’t our weather. The problem is we try to filter our understanding of such weather through the same overly broad distinctions that the rest of the world goes by: winter, spring, summer and fall, says author Bob Welch.  It's a pretty interesting/humorous read and worth your time.  After all, what else do you really have to do today with soggy fields and 1.4" of rain predicted for this weekend?  Keep your chin up...and your hood up...and your hat low.

25Mar2011

Punxsutawney Phil, better get his act together, it has been nearly 6 weeks since he ‘didn’t’ see his shadow and not much evidence of an early spring…
               Futures called up with nearby corn leading the way called 8-10 higher. Western HRW country is mostly dry and the outlook is for more dry to continue with little chance of precip. La Nina is still expected to be around till June. Paris wheat futures were sharply higher overnight, up 2.7%.
               Chinese bean imports were 3.9 myn mt for March. Indonesia bot 7.8 myn bu of Indian corn. Argie’s corn harvest is delayed due to rain. The NCP (North China Plains) will be dry the balance of the month, but will see some warming….they need rain….badly. At least as bad as our HRW belt where most of the crop is still rated P-VP. The IGC (Int’l Grain Council) nudged last years wheat production a bit higher increasing wheat production up 1.6 myn mt world wide.

***Didja Know: According to the 2010 census: State of Michigan was the ‘biggest’ loser. North Dakota showed the biggest % increase since 1990 (840%).  To give you an idea, others were: South Carolina 1%, Maine 11%, Hawaii 32%, Connecticut 36%, Wyoming 36% and West Virginia was 213%. According to the census the population density of New Jersey is HIGHER than that of INDIA?