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August 1, 2025
Breakout Sessions
December 20, 2024
Land Buying and Valuing
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November 1, 2009
Pork Quality Grading System and Wholesale Pork Price Reporting
of Industry Stakeholders Contacted to
Provide Feedback. ..........................................................................................................8 … demonstrated by the
lengthy list of contacted parties summarized in Exhibit … Exhibit 1.3.1, the entities contacted range widely in size and …
November 1, 2009
of Industry Stakeholders Contacted to
Provide Feedback. ..........................................................................................................8 … demonstrated by the
lengthy list of contacted parties summarized in Exhibit … Exhibit 1.3.1, the entities contacted range widely in size and …
June 22, 2016
Grain Market Outlook
Page | 3
I. U.S. Wheat Market Situation & Outlook
I‐A. June 10th USDA Crop Production & WASDE Reports
On June 10th the USDA National Agricultural Statistics Service (NASS) released its June 2016 Crop
Production report – containing U.S. winter wheat harvested acreage, yield and production forecasts for 2016 –
with information specific to the 2016 U.S. hard red winter (HRW) wheat, soft red winter (SRW) wheat, and
white winter (WW) wheat crops.
The NASS 2016 U.S. winter wheat production forecast was derived by USDA using a combination of a) an
objective yield survey, and b) a farmer operator survey – both conducted during the May 25 – June 7 period.
The objective yield survey was conducted in 10 states that accounted for 68% of 2015 U.S. winter wheat
production. Farm operators were interviewed to update previously reported acreage data, and to seek
permission to randomly locate sample plots in selected winter wheat fields. Projected biological yields were
calculated from these farmer plots – assessing number of wheat stalks, heads in late boot stage, and the
number of emerged heads to develop a count of the number of heads that would be harvested. These same
plots had been originally surveyed in late April – early May to monitor wheat development and update the
USDA’s yield projections on a plot‐by‐plot basis, and will be revisited again on a monthly basis through and
after harvest – to eventually obtain estimates of 2016 wheat harvest losses.
The farm operator survey included a sample of approximately 4,500 wheat producers representing all
major U.S. wheat producing areas. Producers were contacted by a combination of mail correspondence,
internet and personal interviews, and were asked about likely wheat yields on their farms in 2016.
On June 10th the USDA World Agricultural Outlook Board (WAOB) also released its June 2016 World
Agricultural Supply and Demand Estimates (WASDE) report – containing U.S. and World wheat supply‐
demand and price projections for the 2014/15, “old crop” 2015/16, and “new crop” 2016/17 marketing years.
The “old crop” 2015/16 marketing year for U.S. wheat began on 6/1/2015 and lasted through 5/31/2016, with
“new crop” MY 2016/17 beginning 6/1/2016 and continuing through 5/31/2017.
However, more current farmer survey‐based information on 2016 planted and harvested acreage for U.S.
wheat and other major and minor crops will be made available by USDA NASS in its’ June 30th 2016 Acreage
report. The findings of the USDA 2016 Acreage report will provide information from surveys of nearly 70,000
U.S. farm operators that were conducted the first two weeks in June 2016, supplemented with historical
planted‐to‐harvested acreage relationships and the historic accuracy of past USDA Acreage report projections.
I‐B. CME Kansas Hard Red Winter Wheat JULY & DECEMBER 2016 Futures
Since a low of $4.52 ¾ on April 11, 2016, JULY 2016 Chicago Mercantile Exchange (CME) Kansas
hard red winter wheat futures prices traded up to a high of $5.09 ¼ on April 21st. Then after falling to
lows of $4.41 ¼ on May 11th and 12th, JULY 2016 CME KS HRW Wheat futures traded higher again to
$4.95 ½ on June 8th before moving lower again to a low of $4.77 ½ on June 21st before closing at
$4.78 on that same day (Figure 1).
Page | 4
Similarly, since a low of $4.88 on April 11, 2016, DECEMBER 2016 CME Kansas hard red winter
wheat futures prices traded up to a high of $5.45 on April 21st. Then after falling to a low of $4.83 ½
on May 11th, DECEMBER 2016 CME KS HRW Wheat futures traded sideways then higher again to
$5.35 ½ on June 8th before moving lower again to to a high of $4.34 ½ on June 21st before closing at
$4.35 on that same day (Figure 1).
Figure 1. JULY 2016 & DECEMBER 2016 CME Kansas Wheat Futures Price Charts …
September 1, 2009
Assessing Business Opportunities