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Don Wick
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Farm Progress reported oat futures have gained nearly $1 per bushel since the beginning of the third quarter, recently topping $4 for the first time in two years.
Statistics Canada estimated its oat crop at about 3 million metric tons, down nearly 23% from last year.
USDA projected U.S. production at 68 million bushels, while imported are forecasted at 72 million bushels.
Ending stocks were projected at 32 million bushels, and tighter supplies could keep the support under oat prices heading into 2027.
The USDA's quarterly grain stocks report came out and delivered a bearish surprise for corn, sending futures sharply lower on Wednesday.
Stonex chief commodities economist Arlen Suderman says September 1st corn inventories came in well above trade expectations.
The USDA coming in with stocks, 100 corn stocks, 177 million bushels above the average trade guess.
Now it's September 1, that means the ending stocks for last year are 2.095 billion bushels, nearly 2.1 billion bushels.
And we've been saying for the last year, USDA was overstating the past year's feed usage by around 250 to 300 million bushels.
If our export numbers are correct, ethanol numbers are correct, That means that USDA has to make that downward revision in feed usage in the October 9 WASDE report.
That was down from the previous week record price of $6.52. AAA reports the average diesel fuel price in North Dakota is at $6.13 per gallon.
Poet says the test shows corn-based ethanol could become another fuel option for the global shipping industry.
Poet produces more than 3 billion gallons of ethanol annually at 35 U.S. bioprocessing facilities.
China's agricultural tariff reductions may take several weeks to implement, while bulk soybeans remain outside of the initial tariff cut list.
Washington analyst Jim Wiesmeyer says the existing Chinese soybean purchase commitment remains an important part of the agreement.
But I do think this is overall still good to very good news for U.S. ag sector.
One, soybeans still have the 25 million metric ton commitment.
That is not going away, and they're going to fulfill that.
Two is that it may take a few weeks or so in order to get these tariff reductions on corn.
Farm Progress reported oat futures have gained nearly $1 per bushel since the beginning of the third quarter, recently topping $4 for the first time in two years.
Statistics Canada estimated its oat crop at about 3 million metric tons, down nearly 23% from last year.
USDA projected U.S. production at 68 million bushels, while imported are forecasted at 72 million bushels.
Ending stocks were projected at 32 million bushels, and tighter supplies could keep the support under oat prices heading into 2027.
The USDA's quarterly grain stocks report came out and delivered a bearish surprise for corn, sending futures sharply lower on Wednesday.
Stonex chief commodities economist Arlen Suderman says September 1st corn inventories came in well above trade expectations.
The USDA coming in with stocks, 100 corn stocks, 177 million bushels above the average trade guess.
Now it's September 1, that means the ending stocks for last year are 2.095 billion bushels, nearly 2.1 billion bushels.
And we've been saying for the last year, USDA was overstating the past year's feed usage by around 250 to 300 million bushels.
If our export numbers are correct, ethanol numbers are correct, That means that USDA has to make that downward revision in feed usage in the October 9 WASDE report.
That was down from the previous week record price of $6.52. AAA reports the average diesel fuel price in North Dakota is at $6.13 per gallon.
Poet says the test shows corn-based ethanol could become another fuel option for the global shipping industry.
Poet produces more than 3 billion gallons of ethanol annually at 35 U.S. bioprocessing facilities.
China's agricultural tariff reductions may take several weeks to implement, while bulk soybeans remain outside of the initial tariff cut list.
Washington analyst Jim Wiesmeyer says the existing Chinese soybean purchase commitment remains an important part of the agreement.
But I do think this is overall still good to very good news for U.S. ag sector.
One, soybeans still have the 25 million metric ton commitment.
That is not going away, and they're going to fulfill that.
Two is that it may take a few weeks or so in order to get these tariff reductions on corn.
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