USDA Releases Reports

The USDA released multiple reports Friday, including it's January Crop Production, Quarterly Grain Stocks and Supply and Demand Reports.

Market Analyst, Brian Voth, says there were no real big surprises in the reports, and there's no shortage of grain anywhere in the world right now.

Voth says, one of the highlights was the U.S. reported a new record corn yield at 176.6 bushels per acre up from 175.4.

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Market Outlook Warns of Over Production

The Senior Market Analyst with FarmLink Marketing Solutions says farmers have had to work harder over the past couple of marketing years.

Neil Townsend says, in the past, high prices seemed to always have been there, adding this has not been the case recently.

"We think that prices are going to kind of struggle to maintain momentum if they start to go up. There's just a lot of crops around in the world, big supplies of wheat, corn and soybeans and those are going to keep the pressure on prices if they try to increase. That being said, we don't really see further declines because there's just enough of a weather threat say in North America to keep it a little bit honest."

His biggest concern moving forward is the lack of any real incremental demand.

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Igniting Young People's Passion for Agriculture

Today is Ignite; the Farm Credit Canada Young Farmer Summit.

The Summit is taking place in Edmonton, and is a free one day event for people under the age of 40 involved in agriculture, agribusiness or agri-food.

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