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Edgar Hicks    
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Market Comments covers weekly developments from Wed. to Tues.
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Market Comments: 2/16/11
New Acres From Where?

 

Go to Briefing at USDA.govBudget baseline data was released on Monday showing the first USDA Supply/Demand projections for 2011-12.  The market reacted as if the 1.1 billion carry will be adequate (using trend yields of 162), but we are not convinced.  Given the current prices across all grains, where are the 4 million additional acres coming from? 

 

Ethanol Holds Steady 
Visit Bloomberg for more Ethanol PricesEthanol futures in Chicago have remained steady despite corn's decline.  The approach of the summer driving season and the coming increase in corn acres (projected by the USDA) kept prices flat. 
Get Info on Other Markets at Bloomberg.com
  
Brent Takes the Lead 
More on Brent from Futuresmag.comGas prices have made their largest jump since October 2008.  At the same time, crude oil prices have dropped about $5 in the past 2 weeks.  Analysts say that prices are now tracking brent over WTI.  This shift comes as the political unrest spreading across the Middle East feeds fears of supply interruption.
CFO Systems and FFA 
Visit NE FFA's SiteCFO Systems is proud to support FFA during the upcoming FFA Week (Feb. 19 - 26).  We will be serving as a project evaluator at FFA Nebraska's annual session in Lincoln.  Look out for upcoming FFA events in your community.
  

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