Market News
A tentative market place
Monthly USDA reports can be good or can be bad for farmers.
The October crop production and supply and demand report had been delayed due to the government shutdown. This morning – USDA announced the October crop production, cotton ginnings, and supply and demand report would be cancelled.
Farmer’s taking part in the Brownfield Harvest Hangout this week had mixed reaction.
Keith Alverson farms in Chester, South Dakota. He says that’s a conversation he had with his commodity broker yesterday. “We were talking about how tentative the market has been because they didn’t know where USDA was at with things,” he says. “Whether that’s going to be them finding out the corn crop is bigger than they thought or wherever it might drive the market – I think everybody is just kind of tentative.”
Nebraska farmer Zach Hunnicutt says he’s okay with USDA not just jumping in to put out a report. “Their information gathering apparatus has been shut down for a couple of weeks,” he says. “At best they were going to put bad information out there if they were trying to put something together quick. That’s worse than no information.”
USDA also announced the crop reports from October 7th and October 15th would be cancelled.
You can take part in our Harvest Hangout each week. Click HERE to watch our latest installment.
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