Coming up this Friday, USDA will release the August World Agricultural Supply and Demand Estimates report. The report will also include re-survey results of acreage for North Dakota, South Dakota and Minnesota due to the late planting season seen earlier this year. Naomi Blohm, Senior Market Advisor with Total Farm Marketing, says there is plenty of uncertainty surrounding what those acreage numbers will look like.
Blohm also says she’s a bit more cautious and defensive with her marketing strategy right now.
Cash basis has remained relatively stable as of late and Blohm points to basis as a key indicator of what is actually going on in the countryside.
Again, that’s Naomi Blohm, Senior Market Advisor at Total Farm Marketing.