Early frost wave spared U.S. corn and soybean stocks
The warnings of an early frosts in the US corn and soybean growing area are over for the time being. The cold wave stuck in Canada and does not exceed the US allowance. The temperatures are indeed not below 0 degrees , however the + 10 degrees Celsius mark below and delay the ripening process.
The weekly Bestandsbonituren No more fall out as well as for 20 years. The earnings estimates continue to top results . The figures also show that the maturity development significantly below previous years remains. Thus, the harvest in the late threshing areas until far in the October drawcould be.
According to up-to-date of weather forecast to to 23 Sept 14 no further cold waves progress southward. However, that still no final all-clear given the expected late harvest dates. What is with the "Golden" October?
In the early threshing areas, the harvest has started with promising results. The Flächenerträge are well above the average. Here and here come reports of fungal growth in the soy beans on their income impairment but Not yet to be assessed.
According to the previous state of the estimate will be in the United States with a maize harvest of 355 million tonnes (previous year 353 million tonnes) and a soy harvest of 105 million tonnes (last year 89.5 million tonnes) assumed. Both crops are moving at record levels.
The US stock market prices have significantly due to this recent assessment to. In particular the still highly doped soy beans are below the magic threshold of $10 per bushel {€28 per dt) fell. Market experts are now assuming, more declines ahead.
Nevertheless, the Sept-14 courses adhere for soybean meal still on a high and increasing level. Background is the extremely tight supply in the final spurt of the new harvest. But already the Oct dates show ever dt lower level one by approximately 7 to €8. The prices are lower for Dec. 14.
The weak requirements for the U.S. exchanges are reflected with delay in Paris . Still there is restraint in the light of the appearing on Thu, 9/11 USDA report to assess the global grain and oilseed crops. We will see to what extent is the official estimate with the expert estimations in accordance. Subsequent rate adjustments are cannot be ruled out.
