Your Pro Farmer newsletter (February 17, 2024) is now available

Pro Farmer newsletter
Pro Farmer newsletter
(Pro Farmer )

Grain markets continued to sell off as supportive news remains scarce and the path of least resistance is down. While funds are heavily short across the grain and soy complex, there’s no incentive for them to actively cover shorts. USDA’s initial projections for 2024-25 added fuel to bears’ fire. While these are USDA’s be guesstimates at this time and conditions will change, the projected increases in ending stocks paint an even bleaker long-term picture. The extended weather forecast through May suggests generally favorable weather for spring planting. The drought that began in 2020 may be coming to an end. However, a bout of heat and dryness may develop in late spring/early summer. On the policy front, the farm bill remains stuck in neutral with increasing disparity between SNAP/food stamps and farm safety net spending providing a major wedge in talks. Our News page 4 feature this week is key gleanings from USDA’s Ag Outlook Forum. We cover all of these items and much more in this week’s newsletter, which you can download here.

 

Latest News

H&P Report negative compared to pre-report expectations
H&P Report negative compared to pre-report expectations

Nearly every category topped the average pre-report estimates.

After the Bell | March 28, 2024
After the Bell | March 28, 2024

After the Bell | March 28, 2024

Pro Farmer's Daily Advice Monitor
Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

PF Report Reaction: Bullish USDA data for corn
PF Report Reaction: Bullish USDA data for corn

Corn planting intentions and March 1 stocks came in lower than expected.

Report Snapshot: USDA shows lighter-than-expected corn acres and stocks
Report Snapshot: USDA shows lighter-than-expected corn acres and stocks

USDA reported corn acres of 90.036 million acres for 2024 and March 1 stocks of 8.347 billion bu., both well below trade estimates. Soybean acres were slightly lower than expectations, while stocks were higher.