Doug Tenney

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

By Jon ScheveNational yields are always highly debated within the trade from when they are first published in the May USDA WASDE report until they are nearly finalized in the January report. It makes sense, because yields are the biggest driver of supply and the quickest way for prices to rally. Each year, the USDA publishes a trend line yield that seems too high for some market participants. Often, it’s because the yield estimate requires a new record or a tying of a previous record yield.

1 month 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.

2 months 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.

2 months 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.

2 months 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.