Fundamentally, the increase in exports and export sales has been a supportive factor. Ideas that ethanol-driven demand for corn will continue to increase at a brisk pace and that U.S. corn acreage may decline modestly in 2006 also provide fundamental support. Dry weather has driven wheat prices higher and has raised concerns about the 2006 growing season for corn and other crops. Speculative demand for corn and other crops has also escalated, as evidenced by the daily tally of the net position of the fund traders.
More Quotes from Darrel Good:
The USDA may want to consider expanding the scope of the subjective yield surveys it uses in making the forecasts in order to incorporate a wider range of market and industry participants.Darrel Good
A minimum of 23 advisory programs were included in the analysis each year. A total of 41 programs were included for at least one year. The results for 1995-2003 were released in earlier reports, while results for the 2004 crop year are new.
Darrel Good
Markets will continue to react to other factors, but these reports will provide updated fundamental information.
Darrel Good
The USDA generates crop production forecasts based on estimates of planted and harvested acreage and two types of yield indications -- a farmer-reported survey and objective measurements.
Darrel Good
Current world production and demand prospects, however, seem to be relatively more favorable for corn than for soybeans.
Darrel Good
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