What Happened With Iran??

Steve Bruce General Commentary Leave a Comment

                                The numbers are out of the way….carryover on corn at 2.035 billion bushels..wheat 1.087 and beans at 895………………They decreased bean carryover by 5 from February while increasing corn by 200 and wheat by32 million bushels……………like with all government figure adjustments to come next month.

                                The USDA did announce that they will be issuing world numbers sans China in the May world supply/demand………they did not give a reason yet, they deserve thanks for giving us a heads up…….thank you USDA!

                                World corn production was increased from March raising Argentina to 47 million metric tonnes and Brazil to 96 million metric tonnes and the EU to 63 mmt.  World wheat slipped slightly to 732.869 mmt . A major jump in Iran ending stocks from 3.216 mmt to 6.316!!!!!!!! What happened?

                                Fun with numbers is over for a while and it still comes down to weather. Wheat likes dry feet and corn likes to get planted in dirt, not water. The rain is a nuisance and we are approaching the point of no return in certain areas for planting decisions. Appears that we’ll see a lot more bean acres this Spring and Summer. The USDA figures did reassure us that we’ve comfortable stocks to get us to new crop and we’ll be trading the weather from now until harvest to determine and adjust as to what that crop size will be!

                The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.     

image001

Join My Mailing List




Steve Bruce

               
Walsh Trading
312 985 0156
888 391 7894 toll free
312 256 0109 fax
sbruce@walshtrading.com
www.walshtrading.com


Walsh Trading
53 W Jackson Suite 750
Chicago, Il 60604



Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.

Leave a Reply

Your email address will not be published. Required fields are marked *