Positive mood in the U.S. grain farmers
The latest seed status report of the USDA from last week (as of 25 May 14) sounds promising. Profitable showers are so far pulled about by Dewinterizing and drought damaged winter wheat growing area. Although only 30% of this type of wheat in the category of "good to excelllent" are classified, but the moisture helps the plants to a good training of grain. This also applies to the 53% stocks, which were regarded as "poor to very poor". Around 70% of the wheat has the spikes pushed.
Maize sowing was 88% completed last weekend (25 Mai14) and is therefore fully in the target of the multiannual mean. The rain showers expected in the next few days provide a smooth rise, even if the temperatures something to be desired. 60% of the maize stocks are already up. In any case, the starting conditions for the are US corn not adversely. The decisive phase for a good harvest is end of July but yet to August 2014.
The order of the soy is 59% is carried out and is just 20% points higher than in the previous year and slightly above the five-year average. A quarter of stocks are already up, even though the temperatures have been not too favorable for the launch. For this region, sufficient rainfall are expected in the next 10 days, so that a rapid development of vegetation is expected.
Where there is light, is also shadow. In the States of Michigan, Minnesota, Wisconsin and Ohio ordering and inventory development lag behind by more than half compared to the average back. the late start due to persistent freezing temperatures and then partially continuous rain threw back strongly the appointment and the seed emergence. However, are these regions not of paramount importance for the overall result.
The positive mood has become after the Mondays (Memorial Day) holiday in crushed according to decreasing U.S. share prices, which have had their effect in Paris. should the prospects still cheap develop, the pressure on prices is expected to continue further. Current wheat prices in the United States are €17 per German to the autumn/winter 2014/15 forward quotations but tighten.
