Click to Listen:

https://moving-iron-podcast.simplecast.com/episodes/mip-markets-with-shawn-hackett-june-usda-report-recap

Click To Watch:

https://youtu.be/gWmeoPXUhLU

 

Takeaways

• The USDA report showed that the acreage for corn was larger than expected, leading to a bearish reaction in the market.
• The actual production of corn depends on harvested acres, which may be lower due to wet conditions in certain areas.
• In future reports, the market will likely adjust to the lower harvested acres.
• Cotton acres were higher than anticipated, but weather risks during the crop's maturing stage are a concern.
• Weather conditions during corn pollination in July will be crucial for determining crop yield.

Sound Bites

• "This number was a little over a million acres larger than what the average analyst thought they were going to say."
• "Lots of the acres for corn that were planted in those areas that have been underwater and continue to be underwater are not going to be harvested."
• "We could be maximizing the negative effects of this report today and possibly there could be a little follow through potentially on Monday."

Chapters

00:00 Introduction and USDA Report Overview

00:29 Bearish Market Reaction to Larger Corn Acreage

03:50 Maximizing Negative Effects of the Report

05:11 Corn Acreage and Market Impact

09:55 Higher Cotton Acres and Weather Risks

12:43 Concerns about Cotton Production

13:58 Upcoming Live Q&A Presentation

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Host: @casey9673 

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