"10 Important Questions Before Diversifying Your Farm"
"How To Start Farm Business"
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Topics: Grain Markets
Craig’s Closing Comments
February 20, 2015
Yesterday I wrote about the drop in oil production in Libya so it is only fair to give another side of the energy story as well. That story is that here in the USA the oil stocks continue to grow. The latest report for the US Energy Information Administration (EIA) shows US crude stockpiles hit a new record level for the sixth straight week in a row. For the week crude inventories rose 7.7 million barrels to a total of 425.6 million barrels. The analysts were looking for an increase more in the 220 million barrel range so this was pretty negative to crude oil prices. Looking at total gasoline inventories I see that they increased by 500,000 barrels last week and continue to be in the upper end of the five-year average range.
Corn:
Weekly exports and the Farm Forum numbers were the market drivers at play in the market today.
The Farm Forum took the first shot at projecting 2015/16 carry-out numbers. You can see their assumptions and projections on the following chart but the bottom line is that they are projecting a 1.687 billion bushels carry-out for that year and a continuation of the low price environment.
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Topics: Grain Markets
Agriculture and the Environment
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Topics: Grain Markets
Fast Facts About Agriculture
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Topics: Grain Markets
Craig’s Closing Comments
February 19, 2015
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Topics: Grain Markets
Closing Comments
Lynn Miller
February 18, 2015
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Topics: Grain Markets
