Date of this Version
On August 12, 2003 USDA released it’s first survey driven report on crop conditions in the U.S. Immediately following the report the market rose dramatically. One always needs to ask why. First, this is the first production report that uses actual crop data and second, the production numbers were well below what the trade had expected. As we move towards harvest for row crops we need to begin to watch the market for opportunities and potential change. Of course wheat has already been harvested, but we must not only be aware of present conditions but look for potential change on the world scene. Following are the supply and demand tables and some marketing factors to watch as market plans are made.