Big Reports Coming Out Thursday

The USDA reports coming out on Thursday will have an impact on the market. Here’s what’s on the docket:

8:30 a.m. — Weekly Export Sales from FAS
12 p.m. — Grain Stocks from NASS
12 p.m. — Prospective Plantings from NASS
3 p.m. — Agricultural Prices from NASS

The Mid-West Farm Report catches up with market advisor John Heinberg of Total Farm Marketing in West Bend. He shares that the USDA’s quarterly grain stocks may have some impact on where our grain markets head from here.  

Heinberg says ahead of the release, corn and soybean acres combined look to be the largest numbers historically. He doesn’t anticipate much surprise from the reports, but it doesn’t mean Thursday won’t be a volatile day.

His headliner is that Avian Influenza is coming across the U.S., impacting 14.5 million birds and is noted as the third-largest outbreak ever. This is impacting feed demand.

The Russia-Ukraine conflict is still impacting prices on both the input and output side. Markets are still trying to digest just how much of the grain from that region will be available. The global scale is putting importers on an aggressive path, he says. He adds it looks like the high prices are slowing down the demand side.

Heinberg also gives an update on the energy complex.