Commodity Comments: 


WASDE Report leaves the market fairly neautral today.....

The USDA did release a somewhat bullish report for corn.  US yield was cut by almost 2 bu/acre from 180.7 to 178.9 in todays report.  A 25 mbu drop in exports today was because of the increased competition from the Ukraine.  The largest surprise today came out of China's numbers.  The stockpile of grain the China is sitting on, almost tripled today to 5.865 billion bushels. 

The US yield was decreased by 1 bu/acre down to 52.1.  Production was cut by 90 million bushels but exports were cut by 160 mbu.  The new carryout number is 955 mbu.  Brazilian production was left alone in todays report.  

China made revisions to 10 years worth of their balance sheet.  Chinese Wheat stocks were increased by 7.4 mmt. Australian wheat production was cut by 1 MMT while EU and Russia numbers were left alone. 

If you ever have any questions regarding the different types of contracts that JVG offers, please give us a call.  We have cash, futures fixed (HTA), Minimum Price, and Basis Fixed available.  Also, if you hear of different kinds of contracts that you may be interested, let us know.   

As always, Thank You for your business. Have a safe Harvest!


Tiffany Heier