Forecast: Here's To Another Unseasonably Mild October Weekend
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Nebraska corn crop down 1 percent from 2016
13 October 2017, 09:06 | Glen Norman
Crop Production Report for Nebraska & Kansas
A record yield of 4.2 tons per acre is forecast, up 0.05 ton from 2016. The soybean harvest was 36 percent complete, behind the five-year average of 43 percent.
Wheat stockpiles were estimated at 960 million bushels, easily topping the average analyst estimate of 944 million and the prior forecast for 933 million bushels. Lower planted acres likely reflects more accurate accounting of spring weather difficulties.
October's WASDE Report was no exception, as the USDA increased its corn yield forecast beyond expectations while lowering its soybean inventories outlook more than projected. As of October 1, Colorado's sorghum crop condition was rated 4 percent very poor, 9 percent poor, 20 percent fair, 58 percent good, and 9 percent excellent.
The initial forecast of all sunflower production is estimated at 114.0 million pounds, up 26 percent from the 2016 crop of 90.50 million pounds. Yield is forecast at 56 bushels per acre, down 5 bushels from past year.
Canola production is forecast at 65.8 million pounds. Alfalfa hay yield is expected to average 3.90 tons per acre, compared with last year's yield of 3.50 tons per acre and the August 1 forecast of 3.90 tons per acre.
Sugarbeet production is forecast at 1.43 million tons, up 1 percent from 2016. Acreage for harvest is forecast at 47,000 acres, up 96 percent from a year ago.
Dry Edible Bean production is forecast at 4.11 million hundredweight, up 49 percent from 2016. Of the acres for harvest, non-oil sunflowers account for 13,000 acres and oil sunflowers account for 48,000 acres.
Soybean futures for November delivery rose 3¾¢ to $9.95¾ a bushel overnight on the Chicago Board of Trade. That was based on a yield of 171.8 bushels per acre, up from a month earlier. Harvested area is forecast at 1.00 million acres, equal to 2016. Soybean production could see a record 4.43 billion bushels, a bit lower than August's projections, but three percent more than previous year. Acreage updates were made in several States following a thorough review of all available data. Area for harvest, at 5.10 million acres, is 27 percent above 2016.
Soybean production is forecast at 557 million bushels, with a yield of 56 bushels per acre.
The first sunflower production forecast for 2017 is 1.81 billion pounds, down 32 percent from the revised 2016 production of 2.65 billion pounds. Analysts expect the government to raise its estimates of the US soybean yield and harvested acreage.
Nebraska soybean production is forecast at a record 316 million bushels, up 1 percent from past year. Harvested area was forecast at a record 89.5 million acres, up 1 percent from September and up 8 percent from 2016. Yield of 3.30 tons per acre, is down 1.0 ton from 2016. All other hay production, at 2.72 million tons, is up 3 percent from past year. Area for harvest, at 770,000 acres, is up 3 percent from a year ago. Yield is forecast at 1,333 pounds per acre, down 158 pounds per acre from a year ago.
All Sunflower production is forecast at 81.3 million pounds, down 2 percent from a year ago.
Increases Position in Physicians Realty Trust (DOC)
The real estate investment trust reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Sentinel Trust Company Lba decreased Marathon Oil (NYSE:MRO) stake by 86,847 shares to 236,584 valued at $2.80M in 2017Q2.
Sausage Party helmer to direct animated Addams Family film
Sausage Party , which he co-directed by Greg Tiernan, was a raunchy surprise hit that grossed over $140 million worldwide. Everyone's favourite creepy, kooky next-door neighbours, The Addams Family , are getting animated once again.