Doug Tenney

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Tariffs, eggs and outlook

3 weeks ago | ocj.com | Doug Tenney |Leist Mercantile |Jon Scheve

By Doug Tenney, Leist MercantileFor months I have been trying to find Belle-View pickles. They have a sweet chip which pairs splendidly with ham salad. No luck in my local stores. I even braved the throngs at Walmart. Growing frustration increased. I asked friends if they were familiar with that brand.
History suggests corn price has not hit the high

1 month ago | ocj.com | Jon Scheve |Doug Tenney

Market Analysis, Top Headlines By Jon Scheve, Superior Feed Ingredients, LLCMay corn started last week down 15 cents, likely due to the tariffs being implemented on the U.S.’s 3 largest trading partners. Friday values rallied on the news that tariffs on Mexico would be lifted for at least a month. This helped May corn finished the week where it closed out last week, but that is still down almost 50 cents from last month.
Neutral numbers for March 11

1 month ago | ocj.com | Doug Tenney |Leist Mercantile |Jon Scheve

Market Analysis, Top Headlines By Doug Tenney, Leist MercantileNeutral is negative as it lacks bullish news. No changes in U.S. corn or soybean demand. Ethanol and corn exports unchanged. Soybean crush and exports unchanged. U.S. wheat exports cut 15 million bushels. Traders were looking for corn used for ethanol to increase at least 10 million bushels. Last month USDA pegged that number at 5.5 billion bushels. In addition, U.S. corn exports could also increase 10 million bushels.
Will corn rally again?

1 month ago | ocj.com | Jon Scheve |Doug Tenney |Leist Mercantile

Market Analysis, Top Headlines By Jon Scheve, Superior Feed Ingredients, LLCIn 8 trading sessions, the corn market has lost nearly 50 cents per bushel. May corn is now trading similar levels to right before the January USDA report was published. After the January report, basis weakened throughout the U.S., while the March/May futures spread widened. These are common signs of an upcoming futures value correction, which is what ultimately happened.
Range-bound corn market

2 months ago | ocj.com | Jon Scheve |Doug Tenney

Market Analysis, Top Headlines By Jon Scheve, Superior Feed Ingredients, LLCThe February USDA report was published, and like usual, it didn’t impact the market much. For the last 18 trading sessions, corn has finished in a tight $4.80 to $5 trading range. What are some variables that could cause the market to move out of that tight range? WeatherArgentina has been experiencing hot and dry weather with limited precipitation during the critical growth stage of their corn crop.
Big surprises with bullish corn and soybeans

Jan 10, 2025 | ocj.com | Doug Tenney |Leist Mercantile |Dan Armitage

By Doug Tenney, Leist MercantileBig changes in U.S. corn production down 275 million bushels as yield down 3.8 bushels. U.S. soybean production down 95 million bushels as yield down 1 bushel. Big USDA report today. Final 2024 U.S. corn and soybean production and yields, quarterly U.S. grain stocks, and U.S. winter wheat acres will all be part of the noon report.
Bogus rally to end 2024

Jan 8, 2025 | ocj.com | Doug Tenney |Leist Mercantile

By Doug Tenney, Leist MercantileLate last fall I had just come home from an afternoon bike ride with friends which took us to Tar Hollow State Forest, located in Hocking, Ross, and Vinton counties. It was dark and rains would follow the next day two days. The yard needed one final mow and for leaves to be mulched. I did what seemed logical at the time. Soon I was grabbing a headlamp which strapped to my forehead. I wasted no time mowing my entire yard and still it was dark.
USDA announces National Milk Testing Strategy to address H5N1 in dairy herds

Dec 10, 2024 | ocj.com | Doug Tenney

Livestock, Top Headlines The U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) announced the start of its National Milk Testing Strategy (NMTS), which builds on measures taken by USDA and federal and state partners since the outbreak of highly pathogenic avian influenza (HPAI) H5N1 in dairy cattle was first detected in March 2024.
Finding profitability in tight market ranges

Dec 10, 2024 | ocj.com | Jon Scheve |Doug Tenney

By Jon Scheve, Superior Feed Ingredients, LLCFor the last 3 months, corn has traded in a very tight range. In 55 of 68 trading sessions, March corn futures closed between $4.20 and $4.40. In 28 of 33 trading sessions, March corn has closed between an even tighter $4.25 to $4.40 range. And, it’s been over 5 months since March corn closed above $4.50. Can corn keep going up?
Friendly corn numbers

Dec 10, 2024 | ocj.com | Doug Tenney |Leist Mercantile |Jon Scheve

By Doug Tenney, Leist MercantileReport highlights: Corn exports up 150 million bushels, corn for ethanol up 50 million bushels, wheat exports up 25 million bushels. Does anybody believe the additional corn demand? You would think corn would be better than up 3 cents 9 minutes into the report. Trade expectations: US corn exports to increase with a small chance of seeing corn used for ethanol increasing.