Join the Farm Progress Farm Futures® marketing team of Bryce Knorr and Bob Burgdorfer, Monday, April 7, for a crucial preview of spring grain markets before you head to the fields for planting.
With USDA's long-awaited Prospective Plantings and quarterly Grain Stocks report out, key pieces of the price puzzle are falling into place. Knorr and Burgdorfer will compare USDA's tally with Farm Futures® own survey data, along with a preview of the April 9 USDA world supply and demand report for corn, soybeans and wheat.
Between them, Knorr and Burgdorfer have more than 55 years of experience analyzing and writing about the commodity markets.
Knorr directs the magazine's highly regarded research program, preparing detailed forecasts of key commodities every week.
Burgdorfer comes to Farm Futures® after some 25 years with Reuters, where he covered the grain and livestock markets in Chicago.
Farm Futures'® estimates for corn were the most accurate in the industry this winter, predicting reductions in carryout that helped the market carve out a bottom.
"USDA April 9 will incorporate data from its March 31 grain stocks report into its forecasts for old crop ending stocks," Knorr says. "That could have significant implications for prices in what's turning out to be another volatile year."
March 1 grain stocks data gave farmers a good idea about how much was fed to livestock over the winter, but there are still many questions about how feed usage will play out during the second half of the marketing year, he adds.
"Exports and other sources of domestic usage for all three crops also could change a lot, due to weather and world events," Knorr says. "It's crucial for farmers to develop a battle plan before becoming absorbed in planting, because both corn and soybeans have seasonal trends that make selling now successful for many years to come."
Planting intentions set the stage for the growing season, though how many acres actually go in, and how yields fare, depends on weather.
Burgdorfer will discuss the forecast for spring planting conditions after an extremely harsh winter, and also take a look at prospects for El Nino to develop. This warming of the equatorial Pacific is associated with drought in Australia, but can bring good growing conditions to the U.S.
The 45-minute webinar begins at 7 p.m. Central Time.
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Farm Futures is a sister publication of The Farmer, published by Farm Progress Cos. and Penton Media.