Are large corn and soybean price swings finished or just getting started?

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Corn and soybean prices have traded in a wide range since last summer. July 2016 corn futures traded to near $4.70 in early July 2015, declined into harvest, and then bottomed at $3.51 following the release of the recent USDA Prospective Plantings report. July 2016 soybean futures traded near $10.31 in early July 2015, dropped sharply into harvest, and traded between about $8.60 and $9.30 from harvest through early April 2016.The price of both crops experienced a sharp rally this month. July 2016 soybean futures moved to a high of $10.43 on April 21 before finishing last week at $9.96. July 2016 corn futures experienced a more modest rally, trading to a high of $4.07 and finishing the week at about $3.75.A number of factors contributed to the rally that was led by soybeans. Excessive rainfall in parts of Argentina likely resulted in a measurable, but unknown, reduction in the size of the soybean crop due to flooding. Heat and dryness in Brazil has threatened the size of the corn crop in those areas that produced bumper crops the past two years. A weaker U.S. dollar also raised expectations for increased export demand for U.S. corn and soybeans. Large producer sales of corn and soybeans contributed to a weaker basis in many areas as futures prices increased. Forecasts for more favorable weather in parts of both Argentina and Brazil helped fuel the sharp reversal in prices.So where do prices go from here? In the short term, much will depend on how much corn and soybean production potential has been reduced in Brazil and Argentina. The magnitude of the reduction will not be known for a while, but some evidence of the market’s expectation about South American crop size will likely be revealed in the pace of U.S. export sales. For corn, weekly sales have been generally strong since early January and are currently well above the pace needed to reach the USDA’s projection of 1.65 billion bushels of exports for the year. Recognizing that some sales for delivery this marketing year may be cancelled or rolled into the next marketing year, sales may need to reach 1.725 billion bushels in order for exports to reach 1.65 billion bushels. New sales of only about 16 million bushels per week are needed during the last 20 weeks of the marketing year to reach that goal. New sales averaged 46 million bushels per week for the two weeks ended on April 14 and 38 million bushels per week since the beginning of the calendar year.For soybeans, export sales may need to reach about 1.75 billion bushels if actual exports by the end of the marketing year are to reach the USDA projection of 1.69 billion bushels. That goal would require weekly sales averaging two million bushels over the last 20 weeks of the marketing year. While new sales are typically very small from April forward, sales averaged 14.5 million bushels per week for the two weeks ended April 14. It appears likely that both corn and soybean exports will exceed the current USDA projection, with the magnitude of new sales over the next few weeks to give an indication of how big the margin might be.The pace of domestic consumption of corn and soybeans will also have some influence on prices through the end of the marketing year. Corn used to produce ethanol and co-products during the last half of the year will have to be about equal that of last year for use to reach the USDA projection of 5.25 billion bushels. The pace of ethanol production in March and early April suggests that the projection will be exceeded. Feed and residual use of corn during the last half of the year needs to be only 97% of last year’s use in order for the marketing year total to reach the USDA projection of 5.25 billion bushels.The current level of livestock and poultry inventories suggests that the projection could be exceeded as well. The soybean crush during the remainder of the marketing year will have to be about equal to that of a year ago to reach the USDA projection of 1.87 billion bushels. The pace of export sales of soybean meal, along with the monthly USDA soybean crush estimates, will provide some indication of the likelihood of the domestic soybean crush meeting that projection. The year-over-year decline in the crush in March does raise some concern that the projection may be a bit too high.While the magnitude of consumption and prospects for year-ending stocks will have some influence on corn and soybean prices, prospects for the size of the 2016 crops will be the main driver of prices for the next four months. In the near term, those expectations will be influenced by the pace of planting and early season crop conditions. Expectations will also be influenced by the USDA’s June 30 Acreage report indicating whether planted acreage differed from intentions.Crop size will ultimately depend on summer weather. We have previously made the case for an elevated risk of yields falling below trend value this year as summer weather is influenced by the fading El Niño episode. Even after the recent rally, new crop prices may still understate that risk. It will not be surprising to see periods of volatile prices, similar to that just experienced, continue through the summer. Now is the time for producers to establish targets for pricing a portion of the 2016 and 2017 crops.last_img read more

More States Pushing Builders to Add Solar to Their Options Lists

first_imgLawmakers in several states have approved or proposed bills requiring builders to offer solar power among their upgrade optionsIf certain state lawmakers have their way, it might not be long before “solar power system” is just another, routinely listed item on homebuilders’ menus of upgrade options, right along with high-end finishes, expanded garages, and premium fixtures.A USA Today story mentioned four states where lawmakers are considering or have approved bills that would require home builders to offer options such as pre-wiring for solar and/or full solar installations. One state, Hawaii, has already passed a law requiring installation of solar hot-water heaters in all new single-family homes built after December 31.Jeff Lyng, the renewable-energy program manager for Colorado Governor Bill Ritter’s Energy Office, told the paper that a principal aim of a solar-option bill now being considered by the state legislature is to “standardize things – we’re trying to build Colorado’s infrastructure to be ready for solar.”The Colorado bill would require builders to offer a range of options, from pre-wiring to full installation, and inform customers that they can roll some of the cost of their solar energy systems into their mortgages, the story notes.California has already passed a law, due to take effect beginning in 2010, that requires builders to offer solar installations on homes in developments of more than 50 houses. A similar measure, applying to developments of 25 or more homes, was approved in March by New Jersey lawmakers. And, beginning last year, builders in New Mexico have been required to offer pre-wiring for solar.“We’re all in favor offering more options to homebuyers,” says Calli Barker Schmidt, director of environmental communications at the National Association of Home Builders. Schmidt points out, however, that it is in the interests of both builders and buyers to explain which power sources would be most cost-effective in a given area, since roof-mounted solar is more appropriate for some settings than others.last_img read more

Revisiting Heat-Pump Water Heaters

first_img This article is only available to GBA Prime Members About six years ago, I wrote an article for GBA called “Heat-Pump Water Heaters Come of Age.” Since then, manufacturers’ offerings have changed significantly, so it’s time for a fresh look at available equipment.My 2012 article mentioned five manufacturers of heat-pump water heaters: AirGenerate, General Electric, Stiebel Eltron, A. O. Smith, and Rheem. Two of these manufacturers have left the market. The first manufacturer to drop out was AirGenerate. (For more on AirGenerate’s trials and tribulations, see “AirGenerate and Electrolux Tier 2 Heat Pump Water Heater Units Removal.”)Toward the end of 2016, General Electric announced that it would stop making its GeoSpring heat-pump water heaters. A few months later, however, a rival manufacturer, Bradford White, purchased GE’s manufacturing equipment and began producing GeoSpring lookalikes under the Aerotherm brand. (For more information on GE’s exit from the heat-pump water heater market, see “Bradford White Buys GeoSpring Rights and Equipment.”)Bradford White sells the Aerotherm in two sizes. The 50-gallon model has a first-hour delivery rating of 65 gallons, while the 80-gallon model has a first-hour delivery rating of 87 gallons.Stiebel Eltron, the well-known German manufacturer of heat-pump water heaters, is still going strong, as are two American manufacturers, A.O. Smith and Rheem.Stiebel Eltron’s heat-pump water heaters are branded as Accelera heaters. They are available in two sizes. The 58-gallon model has a first-hour rating of 50 gallons, while the 80-gallon model has a first-hour rating of 74 gallons.For any consumers trying to make sense of the heat-pump manufacturing market, there’s a perplexing wrinkle to the story. The two best-known American manufacturers, A.O. Smith and Rheem, allow a very large number of appliance distributors to slap their own labels on the water heaters that they manufacture. The result is confusion.A.O. Smith sells Voltex heat-pump water… Sign up for a free trial and get instant access to this article as well as GBA’s complete library of premium articles and construction details.center_img Start Free Trial Already a member? Log inlast_img read more

Path set for Kings’ reign

first_imgKammuri turning to super typhoon less likely but possible — Pagasa San Miguel sports director Alfrancis Chua also likewise thanked the fans who trooped to the games and endlessly supported the crowd favorites.“This celebration is for all of you, for the ka-barangay,” the Ginebra team governor said as he led the ceremonial toast. Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles02:08Ginebra planning for long series vs San Miguel01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding Stronger peso trims PH debt value to P7.9 trillion SMC president Ramon S. Ang and San Miguel sports director Alfrancis Chua hold the 2017 PBA Governors’ Cup title during Ginebra’s victory party. Photo by Randolph B. Leongson/ INQUIRER.netCoach Tim Cone said Barangay Ginebra isn’t done yet collecting championship trophies. The man on top had something to say about how the pursuit for more glory should be done.“I hope with this win, we’ll be humble and nice to everybody,” said San Miguel Corp. president and COO Ramon S. Ang in Filipino during the celebration of the team’s successful defense of the PBA Governors’ Cup Monday night at the SMC head office in Ortigas.ADVERTISEMENT LATEST STORIES Read Next Japan ex-PM Nakasone who boosted ties with US dies at 101 Brace for potentially devastating typhoon approaching PH – NDRRMC CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA “Ginebra waited for a championship for eight years. [Then] we won last year. And this year, even up to the final minute, we didn’t know if we could repeat. But we’re thankful that we were able to win back-to-back,” he said.In the basketball sense, Cone also has ideas as to how the Kings plan to add to their trophy case.On top of his list: Maximize the strengths of Greg Slaughter and minimize the negative impact brought about by teams running small lineups against the 7-footer.“I feel like I haven’t exploited him yet,” Cone explained.Barangay Ginebra also managed to snare a promising talent in the draft by tabbing former UP gunner Jett Manuel with the 12th pick overall. The Kings hope Manuel can be groomed into a replacement for Jayjay Helterbrand, who announced his retirement.ADVERTISEMENT Ateneo issues clarification: Bundit stays as Lady Eagles coach The Kings captured the season-ending crown in dramatic fashion, holding off a tough-fighting Meralco Bolts in an epic Game 7 at Philippine Arena—a coronation witnessed by a record 54,086-strong audience.Moments after that thrilling 101-96 victory that capped a 4-3 series win, Cone made a promise to the fans of the country’s most popular basketball team.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutout“We’re not going to stop here, we have more championships to win,” he said.San Miguel’s top honcho reminded the Kings to make sure they pursue their goal the right way. Ang is also thankful that after nearly a decade of drought, Cone was able to lead Ginebra to back-to-back titles against a worthy adversary in Meralco. Don’t miss out on the latest news and information. Typhoon Kammuri accelerates, gains strength en route to PH QC cops nab robbery gang leader, cohort MOST READ View commentslast_img read more

9 months agoSolskjaer’s smash-and-grab: Why this Man Utd manager has more than luck going for him

first_imgSolskjaer’s smash-and-grab: Why this Man Utd manager has more than luck going for himby Chris Beattie9 months agoSend to a friendShare the loveCOMMENT: A 1-0 win in London. At Tottenham. On paper it reads like a real smash-and-grab. And it was. But the way Manchester United nicked these three points was a complete 180 to the tale such a result would’ve demanded just a month ago…Jammy. Lucky. Yeah, Spurs fans can feel aggrieved today. Mauricio Pochettino, the home manager, had no complaints in the aftermath. They simply came up against an inspired goalkeeper. But David de Gea would also pull off such performances pre- Ole Gunnar Solskjaer. The Spaniard was outstanding. Inspirational. But so was what he saw in front of him. As mentioned, this was a smash-and-grab. But it was done by a United on the front foot. In their best traditions. Spurs weren’t locked down. Their play wasn’t stifled. Strangled. It was the opposite. Pochettino’s greatest concern wasn’t breaking down a packed defence. It was the two forwards Solskjaer insisted stayed on the halfway line. No matter the pressure. No matter the time Spurs had in possession. United’s manager always had two attackers waiting to turn Tottenham’s defenders around.Six wins from six. With a bit of luck to help things along. But what’s wrong with being a lucky manager? Especially when it’s his initiative which is bringing this change of fortune.It’s not luck that Solskjaer has decided to go all in with Marcus Rashford as his prime – central – striker. It’s not luck that the Norwegian has realised the best way to win with this group of players is by backing their attacking strength. And it wasn’t luck that produced the winner – via Rashford – at Wembley on Sunday. The reaction of the manager and his staff a clear indicator that a week’s work in Dubai had just come off. Something which the matchwinner would later confirm.“We’ve done a lot of work in training on switching the play and little things like that,” Rashford revealed in the aftermath. “We’ve had a long week in training (in Dubai) and it’s been tough in training, but that’s the type of thing we’ve been working on. So for it to come out in a game is good for us as players and good for the staff as well.” Claims that Solskjaer is simply the beneficiary of player power – that they’re now performing because Jose Mourinho isn’t around – is insulting to the caretaker boss. When he and his staff review Sunday’s win, they’ll be confronted by the same problems as what Mourinho struggled with. A loose back four. An even looser midfield. By rights, Spurs should have taken the three points. But Solskjaer has made a difference. On the training pitch. In team selection. He’s giving this group of United players a tactical platform to go out and win. And as this column has already stated, it’s a platform over 11 years in the making. From the highs with Molde. To the lows with Cardiff City. And everything inbetween. These United players are the recipient of the decade long apprenticeship served by Solskjaer.They may get torn to shreds at the back. But United will always have a chance with De Gea between the posts and the pace they have up front. In the Mourinho era, we’d say the manager can’t trust his back four. But this is Solskjaer’s time, though the sentiment remains the same. He’s leaning on those players regarded as the best inside his squad. And they all happen to be attackers. It’s a cliche, but it’s working for this United manager: attack is the best form of defence.And suddenly this lot do have the makings of a great United team. And in the very best traditions of Sir Alex Ferguson. A great goalkeeper. Attacking, edge-of-your seat pace in attack. If Ed Woodward, United’s vice-chairman exec, can find his manager a new centre-half, they’ll be a step closer to completing the revival.From Gary Pallister. To Jaap Stam. And Rio Ferdinand. Sir Alex broke transfer record after transfer record to find the right centre-half to buttress the style of football he wanted to employ.Five years since the Scot’s retirement and Solskjaer is bringing back that approach. It might as well have been Fergie himself when the manager declared late Sunday afternoon: “We’ve got the best goalkeeper in the world. We’ve got blistering pace…”And now he just needs that centre-half. If Woodward is still hesitating this smash-and-grab should strengthen the manager’s case. Give him what he needs and Solskjaer is proving he can deliver. TagsTransfersOpinionAbout the authorChris BeattieShare the loveHave your saylast_img read more

7 hours agoEx-Man Utd stars ​Van Persie, Scholes tell Woodward: Solskjaer must stay

first_imgEx-Man Utd stars ​Van Persie, Scholes tell Woodward: Solskjaer must stayby Ansser Sadiq7 hours agoSend to a friendShare the loveTwo former Manchester United players believe that Ole Gunnar Solskjaer should remain in charge at the club.Solskjaer is under increased pressure after United’s poor performances this season.Some fans believe that he should get the boot.But two players who enjoyed success with United, Robin van Persie and Paul Scholes, are behind Solskjaer.”It has been a rough start,” Van Persie said on BT Sport after United’s battling 1-0 win over Partizan Belgrade in the Europa League on Thursday night. “What is tough for Solskjaer is it’s not his team. He needs time.”Scholes said: “When you assess the season so far, 14th tells you everything. It has not been good enough.”But we have to trust what Ole is doing. He’s right at the start of his rebuild. His first three signings have done very well. I’ve still got the faith. Let him carry on.” About the authorAnsser SadiqShare the loveHave your saylast_img read more

A Plane Crash Has Delayed The Start Of The Texas Tech-Kansas State Men’s Basketball Game

first_imgTexas Tech plays a home men's basketball game.Update: The plane reportedly crashed into the TV tower of NBC’s Lubbock affiliate, KCBD. Getting reports that a plane hit the transmission tower of @KCBD11 and that their HDTV tower was severed in two. KCBD is in Lubbock.— Chris Walker (@WalkerATX) February 5, 2015Just got word from our colleagues & friends at KCBD that everyone inside the station IS safe. We have a crew at downed plane now #Lubbock— Brian Holland (@BHollandSports) February 5, 2015Earlier: The start of the Texas Tech-Kansas State men’s basketball game at United Supermarkets Arena in Lubbock has been delayed. The cause of the delay: a small plane has crashed near the Red Raiders’ campus, knocking out the power at Texas Tech’s arena. We are unaware of the severity of the crash. A small plane just crashed near Texas Tech, temporarily knocking out power at the arena. Tip off will be delayed.— Kellis Robinett (@KellisRobinett) February 5, 2015For those familiar with Lubbock, the plane crash is said to have happened near Avenue Q.— Kellis Robinett (@KellisRobinett) February 5, 2015Lights are back on at Texas Tech. Countdown clock indicates we are 8:30 away from tip-off.— Kellis Robinett (@KellisRobinett) February 5, 2015Texas Tech and Kansas State were set to tip off at 9 p.m. E.T. The game will be televised on ESPNU.last_img read more

Solskjaer urges Man United to take the initiative

first_imgCaretaker manager Ole Gunnar Solskjaer believes Manchester United must take the game to Liverpool in today’s showdown between the old rivals.The Red Devils will play host to Liverpool at Old Trafford this afternoon in what is widely viewed as the Premier League’s biggest match.On the back of 8 wins in 9 league games under Solskjaer, United have moved into the top-four of the standings and will be looking to get one over their rivals by claiming victory today and hindering Liverpool’s title bid in the process.And Solskjaer, who has a big history against Liverpool as a United player, outlined what his squad must do to beat the Reds.“We always want to take the initiative,” said Solskjaer on the club website. “I thought we started on the front foot against PSG but, then again, they took the initiative so we will go into this game wanting to dominate the game but, then again, we know their strengths.“We know they’re going to be waiting for our mistakes and counter attack but then, if we drop back, they can dominate us.Harry Maguire, Manchester UnitedLiverpool legend Nicol slams Harry Maguire’s Man United form Andrew Smyth – September 14, 2019 Steve Nicol believes Harry Maguire has made some “horrendous mistakes” recently, and has failed to find his best form since joining Manchester United.“So we don’t want to do that at Old Trafford, so we’ve just got to take that lead.”On whether a positive approach is always the plan, Solskjaer replied: “Well, that’s always my first thought – to try to win the game. I’ve never gone into a game trying not to lose a game.“Then again, as I’m saying, you’re playing against 11 players as well and a team, so if we can do to Liverpool what we’ve done to a few teams now, I’ll be very happy.“If we have to play a different way, then the game itself decides that really, so the start is very important.”Jesse Lingard and Anthony Martial could feature in today’s match after being originally ruled out, but are both unlikely to start.Meanwhile, Romelu Lukaku remains an uncertainty for a start after returning to the line-up in last Monday’s 2-0 FA Cup win at Chelsea.The match between United and Liverpool will begin at 3:05 PM (CET) today.MANCHESTER, ENGLAND – FEBRUARY 11: Ole Gunnar Solskjaer, Interim Manager of Manchester United looks on during a training session ahead of their UEFA Champions League Round of 16 match against Paris Saint-Germain F.C. at Aon Training Complex on February 11, 2019 in Manchester, England. (Photo by Jan Kruger/Getty Images)last_img read more

We are not afraid to experiment

first_imgWhere does the name of your band come from? When the band started off, each one of us had a different musical background in-terms of the genre. So, it was more like a wave or a frequency. Guitarist was fond of Blues and Jazz, the Bassist was into Alternative rock and the vocalist into Metal. Hence, we thought it’s like a frequency: high and low. Hence the band name.Tell us about how you guys started off…Frequency started off as a school band, studying, playing and learning together. After school hours, we used to practice and then leave for our tuition together. After we got done with our schooling, the band went through a lot of lineup changes. Hence, we recruited new members and did not end the journey there. Now, Kushal Thapa is the only founding member in the band. Also Read – ‘Playing Jojo was emotionally exhausting’What is your original brand of music? Do you guys have a signature sound? The band was formed while having a picture of a band that can produce Electronic/Experimental sound with heavy guitar riffs and groovy bass lines, equally supported by heavy vocals. We still have the same sound, however we are not afraid of experiments that we do with our music, either live or in the studio.Tell us about the initial years after kick-off till how it has been thus far Also Read – Leslie doing new comedy special with NetflixThe journey has been full of memories to be honest! Our band was formed in September 2006 and now its 2013. So we’ve been in the circuit for nearly 7 years now. We are lucky to have such an  audience who has stood by us over the years and always encouraged us to make good music. We got our first major recognition at Channel [V] Launchpad 2007 when we landed up as the top four finalists. This high was carried forward by Sandeep Chowta, a well known music producer from Bollywood, who offered us for a deal to make music for him. Top all of that with a kitty full of gigs that we’ve done in India. So, to summarize all of it, in these 7 years, we’ve seen and learnt a lot. And, we thank each and every person, who’s been a part of the Frequency family. How does it feel to perform with three other bands? It was a great experience for us to play with such awesomely talented musicians. They knew their instruments. The great crowd interaction led these bands to deliver a successful show.What plans for 2013? We are planning to launch our 4 Track EP this month followed by a major cities’ tour in order to promote our newly written material and simultaneously work in our studio for our full length album, that we plan to launch by the end of this year.What got you to take part in Metanoia and how do you see this working for you?After the success of Pandemonium, Cacophony Networks approached us for this show and we couldn’t say no to them. Considering the show lineup, we pulled up our socks and were ready to deliver a gig full of excitement and fun.last_img read more