BOB'S REVIEW
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March 29, 2016  03/29/16 1:08:14 PM

We have one more week of NCAA basketball.  What a crazy year trying to pick a winner.   It’s like trying to pick the top in our grain markets.  Not too many people can get it correct.  And if they did it, was by pure luck.
 
This Thursday the USDA will release the March 1st stocks report.  The average guess for the corn stocks is 7.801 bln bushels vs last yrs 7.750 bln bu the highest since ‘86/’87.  The ave bean stock  guess is 1.584 bln bushels or about 257 mln bushels larger than last year the highest since ‘06/’07.   
 
Prospective planting figures will also be released.  The average corn acres guess is in the neighborhood of 89.972 mln acres and beans around 83.06 mln.  The corn figure is up roughly 1.9 mln acres from last year’s March 31st guess and the bean guess is about unchanged vs last year.
 
How much do we have left over next Sept (2017)?  Like all early USDA reports we’ll have to start with trend line yields.  Corn ending stocks could be around 2.0 bln and bean stocks could be pushing 550 mln. 
 
How much money will the managed fund people play with over the next 18 months?  How early will the US get this year’s crops planted?  Will the growing season give us those trend line yields?    This doesn’t look good for prices going forward.  Time will only tell.   Now we wait for 11:00 am on the 31st
 
We have plenty of bagged oats and waterway mix on hand.  Given sometime we could also clean some bulk oats for you.
 
Cargill bean processing plant will start their annual maintenance on Monday April 4th
 
Have a great week!
 
Bob 
 
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