A Closer Look into the Evolution of Farming Equipment
Advancements in heavy equipment play a critical role in ensuring that agriculture and food production is sustainable for the world. From horses pulling wagons to modern-day combines, the evolution of farm equipment has played a vital role in the agriculture industry. The development in technology has not only helped speed up the overall farming processes, but farming equipment is essential for decreasing the amount of manpower needed for each harvest season and increasing production overall. First, let's recognize a few of the pioneers and inventors of farming machinery: In 1794, Eli Whitney created the cotton gin, which separated seeds, hulls, ...
The Leonard Lumber Report: The feature of the week was easily the $122 swing this past Monday
Change for the Week: May Futures 889.00 -$60.90 Open Interest 2782 +15 CoT + 245 Industry -143 Long Funds The feature of the week was easily the $122 swing on Monday. May went from $40 higher to $80 lower in a matter of minutes. The feature may be more about how it was received than the distance, and it was met with a lot of yawns. What is noticeable is the collective sigh of relief from the whole industry on limit-down moves in futures. People need wood again. Looking at the commitment of the trader's report, there is a ...
AG MARKET UPDATE: MARCH 31 – APRIL 8
A bullish USDA WASDE report on Friday did nothing to affect the markets; it appears that the report was met with little reaction. The U.S. ending stocks were unchanged while world ending stocks were raised due to larger Brazil corn crop estimates by 2 million tonnes. The weather in South America and the U.S. over the next month will be the main focus as it will be essential for U.S. corn to get off to a good start as far as world supply goes. The war in Ukraine continues, and as the ultimate damage and consequences are unknown, it is ...
The Leonard Lumber Report: Biggest Takeaways From Last Week’s Trade
The biggest takeaway from last week's trade is that lumber cycles develop and remain in place. We as an industry try to decipher each outside influence on pricing to help make a call for a reversal or add to the confirmation. That was the case last week as a flood of news, noise, and reactions flipped the bull or bear switch a few times. By Friday, all we had was a lower price for the week. The key to businesses is to judge those cycles to be buying on the way down and selling on the way up. Is that ...
AG MARKET UPDATE: MARCH 24 – 31
A bullish USDA Prospective Plantings report for corn saw both old and new crop corn getting a boost on Thursday. The USDA sees corn-planted acres for all purposes in 2022 at 89.5 million acres, down 3.87 million from last year and well below the average trade estimate of 92 million. Several factors might have played into this number but going from 92 million acres at the USDA Ag Forum to this number a month later is very interesting. Input prices and supply chain woes likely played a major role in the USDA predicting more bean acres than corn as the ...
