Bryce Knorr, senior grain market analyst for Farm Futures, said it looks like there will be neutral ENSO conditions for the majority of the 2017 growing season. There is no correlation between crop yields in the United States and a neutral ENSO. “Basically it’s 50/50 as to whether or not yields are going to be better than average or worse than average,” he told a room packed with farmers. Caption Settings Dialog Beginning of dialog window. Growers should look to start marketing their beans at a cash price of US$9.50 per bushel or a November futures price of $10.25 in the period ending April 11. Jim Mintert, director of the Center for Commercial Agriculture at Purdue University, said cost of production for corn on average farmland in Indiana has fallen since the ethanol era highs of 2012 and 2013, but it still costs more to produce the crop than it returns. Seed costs are up and so are pesticide costs. The center surveys 400 farmers every month and produces an agriculture economy barometer from the results. “There is definitely some correlation between the November election results and producer sentiment,” said Widmar. Despite the optimism there is still a lot of pain in the U.S. farm economy.
SAN ANTONIO, Texas — It was standing room only during the grain marketing sessions at day one of the 2017 Commodity Classic.
Commodity Classic describes itself as is America’s largest farmer-led, farmer-focused convention and trade show.
Bryce Knorr, senior grain market analyst for Farm Futures, said it looks like there will be neutral ENSO conditions for the majority of the 2017 growing season. ENSO is the El Niño–Southern Oscillation.
There is no correlation between crop yields in the United States and a neutral ENSO.
“Basically it’s 50/50 as to whether or not yields are going to be better than average or worse than average,” he told a room packed with farmers.
There are much better odds that Argentina and Brazil will have lower wheat and soybean yields for the crop planted in 2017 and harvested in 2018 and that the Former Soviet Union will have big yields in wheat and coarse grain this year.
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