18 Dec
2019

Corn, wheat neutral, new crop soybeans negative

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Today’s reports from USDA were watched with great detail and attention.  Key in today’s report were several factors that include, the 2015 corn yield, 2015 soybean acre, and ending stocks for 2015 corn, soybeans, and wheat.  Weather will be a huge factor for the next six weeks.  The May USDA supply and demand report marks the first supply and demand table for 2015 corn, soybeans, and wheat.Traders overall were looking for a small increase in old crop corn and wheat ending stocks. Soybeans were expected to see a small decline.  Prior to the noon release of the USDA report, corn was down 1 cent, soybeans were up 4 cents, while wheat was up 7 cents. Following the report at 12:25 pm, corn was up 3 cents, soybeans were down 10 cents, with wheat up 6 cents.Corn acres for 2015 were left unchanged from the March 31 report at 89.2 million acres. The yield was also unchanged at 166.8 bushels per acre. Soybean acres for 2015 were also unchanged from the March estimate at 84.6 million acres. The biggest negative for soybeans, the 2015-16 ending stocks, estimated to be 500 million bushels. Traders put that number at 443 million bushels.Diving into all of the corn numbers, corn ending stocks went up but less than expected.  Corn ending stocks for 2014-15 were estimated at 1.851 billion bushels, up 24 million bushels from April. Exports were increased 25 million bushels to 1.825 billion bushels. This is a bit of a surprise for corn. Export loadings have been better than expected in recent weeks. However, the US does face strong competition from around the world for corn exports. The ethanol number was unchanged at 5.2 billion bushels. Corn ground for ethanol  was at its lowest number last week of any in the past four months.  Ethanol will be one to watch in coming months. We have seen some ethanol plants the past month take earlier than normal down time for maintenance. Don’t be surprised to see the ethanol number reduced this summer.The rapid corn planting progress seen already in May had the US corn planted at 75%. The five-year average for this date has US corn planted at 57%. The Ohio corn planting progress was 55%.Don’t be surprised to see USDA increase their projected yield for 2015 corn. This has been much discussed this past week. Earlier in February at their annual USDA outlook conference they put the corn yield at 166.8 bushels per acre. Many have thought that due to rapid planting progress the yield could be raised ever so slightly. However, it was not a clear cut majority thinking of an increase.  It is just very early in the corn growing season.In addition to the new crop 2015 supply and demand tables, USDA also projected US wheat production.  Traders were looking for all wheat production and winter wheat production to be higher than last year. Hard red winter and white winter wheat were expected to increase as well. Soft red winter wheat production had been expected to decrease compared to last year.Great  planting weather across the Midwest has been the theme the past 2-3 weeks. Early this month areas of Iowa, Illinois, Nebraska, and Minnesota had corn planted at 75% planted or more. Yet, in Ohio very little corn had been planted. A very odd occurrence was taking place. However, they quickly made up ground. “Petal to the metal,” has been rampant in Ohio the past two weeks. Many report that corn was planted from start to finish absent of any rain delays, in ten days or less. Rain fell across much of central Ohio and other areas yesterday afternoon and evening. Precipitation amounts ranged from ½” to 1.5” For many it was a perfectly timed rain that will go a long way towards getting corn up quickly and off to a fast start. Various reports indicate that corn is emerging in five days, a feat very unusual for May.Corn shorts continue to be in control as demand is projected to be reduced from USDA.  The rapid planting progress along with recent rains will keep the quote, “rain makes grain,”   a constant thought in the market.Weather is going to be key until at least July 4th. With the rapid corn planting progress seen this month, it means a lot of corn was planted in rapid fashion due to dry soils. Any hints of dry weather  can be manifested sooner than normal .last_img read more

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3 Dec
2019

Model Code of Conduct in full swing in Nagaland

first_imgNagaland Chief Electoral Officer Abhijit Sinha has asked banks to report daily to the district election officer on suspicious withdrawal of cash from the bank account of any individual. If cash exceeding ₹50,000 was found in a vehicle carrying a candidate, his agent or party worker, it would be seized, Mr. Sinha said in a statement. The directives were issued as part of the Model Code of Conduct which is in force in Nagaland in view of the elections to the 60-member Assembly on February 27. Posters, election materials or drugs, liquor, arms or gifts items valued at more than ₹10,000, likely to be used for inducement of electors, or any other illicit articles also found in a vehicle, shall also be seized, the statement said. Mr. Sinha also asked citizens carrying cash more than ₹50,000 to carry relevant documents to substantiate the source and purpose of the money. The Model Code of Conduct, came into force in the state from January 18. In the statement issued on Wednesday, the CEO reiterated the directives issued by the Election Commission on the Model Code of Conduct, electoral offences and election expenditure monitoring. No new government scheme or project should be announced and those already approved, should not be started, if work on it has not yet begun, the statement said. Rest houses, dak bungalows or other guest houses of the government should not be used for carrying out any political activity, the statement said. The CEO said that there should not be any defacement of government property, offices and premises and all wall writings, posters, papers or defacement in any form, hoardings, banners, flags on government property should be immediately removed. Unauthorised political advertisement in the form of wall writings, flag at public spaces like railway station, bus stand, airport, roadways, government buses, electric poles, and municipal or local bodies building, and in private properties should be removed. There is a total ban on the use of official vehicles by any political party, candidate or agent for campaigning, electioneering or election-related travel during elections. The statement said that offering and accepting or receiving of bribe and gratification by any person was both an electoral offence and corrupt practice. Any promotion or attempt to promote feelings of enmity or hatred on the ground of religion, race, caste, community, or language by any candidate or his election agent is an electoral offence and corrupt practice under the law, the statement said. The CEO said any advertisement on political nature has to obtain pre-certification from concerned authorities. He also apprised that Media Certification and Monitoring Committees (MCMC) have been set up at district levels and also at state level.last_img read more

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