Tag: grain marketing

Grain Feeding Cattle in Southern Maryland

6-9 pm | Dinner provided

Agenda:
Southern Maryland Grain Update 
Ben Beale, Univeristy of Maryland Extension

Becoming a cooperator herd with Roseda Beef
Dean Bryant, Roseda Beef

Current opportunities in feeding cattle and the basics of cattle diets
Charlie Sasscer III, University of Maryland Extension

Locations:
September 6, 2023 | Calvert County
901 Dares Beach Rd., Prince Frederick, MD 20678

September 13, 2023 | The Barns at New Market
29133 Thompson Corner Rd., Charlotte Hall, MD 20659

RSVP at https://forms.gle/s4hpojx69TSnhTPW8

Frederick County Grain Marketing Meeting

New Extension Program: Frederick County Grain Marketing Meeting The University of Maryland Extension Frederick County will now host a bi-weeky (every-other) meeting to discuss current topics in commodity grain markets for producers looking to improve their grain marketing strategy and stay informed about current market conditions. The meeting is intended to be an open, informal discussion rather than a lecture or presentation. In this, any and all members of the agricultural community/those interested in learning more about commodity grain markets are invited to attend.

Currently, meetings will be held at the Cracker Barrel in Frederick located just off Rt. 85 at 7408 Shockley Drive, Frederick, MD 21704 on Friday mornings from 7:30 am – 8:30 am. The meetings will be held over a delicious breakfast, however attendees will be responsible for purchasing their own meals. The next meeting will be held on Friday, Jul 28, 2023. Meeting location and times may be subject to change to better suit the needs of the attending group and will be announced.

For additional clarity, the current meeting schedule for the next five meetings is as follows:

  1. July 28, 2023
  2. August 11, 2023
  3. August 25, 2023
  4. September 8, 2023
  5. September 22, 2023

Attendees or interested parties are encouraged to complete the online form at the Frederick County Extension, Agriculture and Food Systems webpage or at https://go.umd.edu/FrederickGrain. Completion of the form is not required for attendance, however those who complete the form and provide an email address will receive additional information and timely updates of grain marketing topics, news, and market conditions between meetings.

Depending on group interest, expert speakers may be invited to attend and offer additional perspectives on marketing or market conditions at future meetings. For more information, comments, or questions please contact Mark Townsend, Agriculture Agent Associate, at mtownsen@umd.edu or (301) 600-3578. The UME-Frederick Ag&FS team looks forward to your attendance!

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This institution is an equal opportunity provider.

September 2021 Grain Market Report

Dale Johnson, Farm Management Specialist
University of Maryland

Information from USDA WASDE report

Attached is the summary for the September 2021 WASDE.

Corn

2021/22 harvest acres projection was increased by 600,000 acres and yield estimate was increased by 1.7 bushel per acre. The beginning supply estimate was adjusted up 70 million bushel. The net effect of these adjustments on estimated supply was an increase of 316 million bushel. On the demand side, feed & residual estimate was increased by 75 million bushel and export estimate was increased by 75 million bushel. The result of these supply and demand estimates was an increase in ending stocks of 166 million bushels and an increase in the stocks to use ratio from 8.5% to 9.5%. December futures have declined from a high of $5.94 per bushel in August to close at $5.18 today.

Soybeans

2021/22 harvest acres projection was decreased 300,000 acres and yield estimate was increased by 0.6 bushel per acre . The beginning supply estimate was adjusted up 15 million bushel. Imports were adjusted down 10 million bushel. The net effect of these adjustments on estimated supply was an increase of 41 million bushel. Crushings were adjusted down 25 million bushels and exports were adjusted up 35 million bushel. The Net effect of all adjustments was an increase of 30 million bushels in ending stocks and increase in the stocks to use ratio from 3.5% to 4.2 %.   November futures prices on June 10 closed at $14.59. November futures trended down from a high of $13.80 in August to close at $12.86 today.

Wheat

There were small adjustments in and demand categories resulting in a net effect of a 50 million bushel decrease in ending stocks decreasing the ending stocks-to-use ratio from 32.1% in August to 29.8%. December futures have followed corn and soybean prices down from a high of $7.87 per bushel in August to close at $6.89 today.

April 2021 Market Report

Dale Johnson, Farm Management Specialist
University of Maryland

Information from USDA WASDE report

Attached is the summary for the April 2021 WASDE.

Corn

Supply estimates were unchanged. Feed and residual estimate was increased 50 million bushel. Ethanol estimate was increased 25 million bushel. Exports estimate was increased 75 million bushel. The total increase in demand was 150 million bushel decreasing ending stocks the same amount and decreasing the stocks-to-use ratio from 10.3% to 9.2%, the lowest since the 2012/13 marketing year. The Prospective plantings report on March 31 estimated 2021 corn acres at 91.1 million acres which was below expectations. This sent corn prices limit up on March 21. They have continued to climb. Nearby futures are trading in the $5.70 per bushel range and December Corn hit a high of $5.04 per bushel on April 9.

Soybeans

Supply estimates were unchanged. Crushings estimate decreased 10 million bushel. Exports increased 30 million bushel. Seed & residual decreased 20 million bushel. Total demand and ending stocks remained unchanged. The 2.6% stocks-to-use ratio is the lowest since the 2012/13 marketing year. The Prospective plantings report on March 31 estimated 2021 soybean acres 87.6 million acres which was below expectations. This sent soybean prices limit up on March 21. Nearby futures are trading in the $14 per bushel range and November futures closed at $12.63 per bushel on April 9.

Wheat

Wheat import estimate was decreased 20 million bushel. Feed and residual estimate was decreased 25 million bushel. These changes resulted in an increase in ending stock estimates of 16 million bushel and an increase in the stocks-to-use ratio to 40.3%. Since last month wheat futures have declined but in the past few days they have recovered and are trading in the $6.40 per bushel range for nearby futures contracts.

March 2021 Grain Marketing Report

Dale Johnson, Farm Management Specialist
University of Maryland

Information from USDA WASDE report

Attached is the summary for the March 2021 WASDE report.

The March WASDE estimates for corn, soybeans, and wheat all remain unchanged from the February estimates. 

Corn

March corn futures prices have trended sideways since the February 9 WASDE report and are trading in the $5.50s/bu. range today.

Soybean

March Soybean futures prices have trended upwards from 14.02/bu. on February 9 to peak on February 8 at $14.54/bu. contract high and are trading in the $14.40s/bu. range today.

Wheat

March Wheat futures prices trended upward to a high of $6.84/bu. on February 24 but have back off since then and are trading in the $6.50s/bu. range today.

Grain Marketing Meeting

January 8, 2021

Virtual Winter Grain Marketing Update

Registration: https://go.umd.edu/grainmarketing2021

This meeting will be virtual including speakers on various topics in grain marketing.  Topics include local and national grain outlook for:

  • tax considerations,
  • crop insurance and agricultural law.

Agenda:

8:00 am Welcome— Shannon Dill, Extension Educator, Talbot County, University of Maryland Extension

8:15 am Agriculture Law and Crop Insurance Update–Paul Goeringer, University of Maryland Extension

8:40am Tax Update— Henry Leonard, Certified Public Accountant, BSC Group, LLC

9:10am Grain Marketing Outlook— Jay Pierce, Director of Risk Services, Nagel Farm Service

9:40am Basis Tables and Grain Marketing Resources–Dale Johnson, Farm Management Specialist, University of Maryland Extension

10:00am Announcements and Adjourn— Share link to resources and survey.

If you have any questions, please contact Shannon Dill at sdill@umd.edu.

April 2020 WASE

Dale Johnson, Farm Management Specialist
University of Maryland

Information from USDA WASDE report

The following is a summary of the April 9 WASDE published on April 9. As expected, ethanol production was down significantly from the March report due to factors related to COVID-19 and the overproduction of crude oil by Russian and Saudi Arabia. These factors decreased demand for corn by 375 million bushel. This was partially offset by an increase in the estimate for feed and residual of 150 million bushel. The net effect is an increase of 200 million bushel of corn in ending stocks and an associated increase in the ending stocks to use ratio from 13.4% to 15.1%

Soybean exports were down 50 million bushel and with other minor adjustments increased the ending stocks from 425 to 480 million bushel and an increase in the stocks to use ratio from 10.5% to 12.0%.

Wheat feed and exports were down, increasing the ending stocks from 940 to 970 million bushel and an associated increase in the ending stocks to use ratio from 43.4% to 45.4%.

These changes in estimates were mostly expected so they had little effect on futures prices.

April 2020 WASDE report

February WASDE

Dale Johnson, Farm Management Specialist
University of Maryland

Information from USDA WASDE report

Attached is a summary for the February WASDE published Tuesday. There was a 50 million bushel increase in the estimate of corn use for ethanol but this increase was offset by a 50 million decrease in the estimate of corn exports and so there was no change in supply, demand or ending stocks.

There was a significant 50 million bushel increase in the estimate for soybean exports. With all other supply and demand factors unchanged this decreased the stocks to use ratio from 11.9% to 10.5%. However, this was anticipated so there was no significant increase in Soybean futures on Tuesday.

There was a 25 million bushel increase in the estimates for wheat exports with all other supply and demand factors unchanged. However with the large ending stocks of wheat, this change was relatively insignificant.

2020 February WASDE