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Farmers Planted Larger Crops than Expected this Year

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  • Description

    FBN’s Jeff Flock on the impact of the weather on agriculture prices.

  • Duration 2:08
  • Date

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We got a new report from the US agricultural department showing up farmers planted larger crowds than expected this year.

But the deepening drought in the midwest just overshadow that news Jeff Flock is in the CME -- with a look at today's big movers such a bummer.

Well it is in some ways in you know what I'm carrying -- -- here's breaking news Korea that I didn't.

Like to do that but look that's a -- umbrella and why is that important well because that is because.

-- rein in Chicago today there was also rein in Iowa today let's take a look at the numbers.

Want to show you how many acres have been printed typically when you get -- it would kill the rally.

Not happened today that's because 96.

Million acres of corn planted.

That is the most acreage since 1937 take a look at what it did to prices though he thinks -- -- -- that that would have.

Depressed prices why -- Well it did initially but we also have -- on the part of the number which is our stocks report and the -- this month were lower so -- had two things off set each other in that we started to worry about the weather against we rally back.

We've got -- take a look at soybeans this rain could really help soybeans first of all take a look at the planning numbers for -- 76 million.

Acres of -- -- that's up 1%.

In the third largest planning in history.

Take a look at the at the price sport though and again we get a rise in -- And while we can't -- Rule out the fact that we're still really -- worried about this whether you know we have all these numbers and we trade him for five minutes from now you have to realize it's still really gotten drive there could be some whether the comes through -- precipitation.

That might could come out of that but if it doesn't come out of that we're gonna see some significant -- to get -- money and also we've got this crop.

Progress report on Monday afternoons we get every Monday afternoon.

We look at that crop report can sometimes you know an -- year that crop progress report we don't care so much about it Scott makes a great point this year.

That is a very important report on Monday will be out at a at a grain elevator at Tracy on Monday talking to you about that crop.

Report on Monday it.

Is important stuff and Jeff Flock it is bad luck to open an umbrella indoors.

Your your genes in the flat for the crops already sell.

Have a good week posted up don't worry tells well we'll have a.

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