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Chemical Year End Discounts Lock in the lowest prices of the year on your chemical needs. Talk to your local NCCA agronomist to setup a plan to be weed-free in 2016. Prepay by January 10th to secure your supply. Extended till January 15th.
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Grain Comments The USDA’s January reports triggered a rally of 11-12 cents in corn and 18-20 cents in beans, but futures finished only 5 and 13 higher, respectively. The national corn yield was reduced .9 bushels per acre resulting in a reduction in total production of 53 million bu. Exports were cut 50 million bu. The end result was a 17 million bu increase in carryout to 1.802 billion bu. December 1 stocks were nearly unchanged from last year, but interesting to note, on-farm stocks vs last year were down 4% while off-farm was up 6%. World carryout was cut 3 million metric tons to 208.9mmt. In beans, the spark was a 25 million bu. drop in U.S. carryout which came in part from a 50 million bu reduction in production, but exports were cut 25 million bu. December 1 stocks were up 7% vs last year at 2.71 billion bu. Global carryout in beans came in well below expectations at 79.3 mmt. Wheat was up 19 at the day as winter wheat planted acreage was down, but global supply is still very large as carryout came in above estimates at 232 mmt. USDA 2015 Yield (bushels per acre): Jan USDA / Avg Est / Nov USDA Corn: 168.4 / 169.5 / 169.3 Beans: 48.0 / 48.5 / 48.3
USDA 2015 Production (bln bu): Jan USDA / Avg Est / Nov USDA Corn: 13.601 / 13.646 / 13.654 Beans: 3.930 / 3.981 / 3.981
Light to moderate rain will cross the southeaster Plains and Midwest Wednesday. A wintry mix will be seen in the northern Midwest. Precipitation and cool temperatures will bring further disruptions in planting. » More DTN Weather Commentary