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Drought Monitor Conference “The Drought Monitor and the Grain Market” DTN

Drought Monitor Conference “The Drought Monitor and the Grain Market” DTN. Bryce Anderson Senior Ag Meteorologist DTN Corp., Omaha 402-399-6419 bryce.anderson@dtn.com. DTN (Data Transmission Network). business-to-business info weather, commodity markets, news

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Drought Monitor Conference “The Drought Monitor and the Grain Market” DTN

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  1. Drought Monitor Conference“The Drought Monitor and the Grain Market”DTN Bryce Anderson Senior Ag Meteorologist DTN Corp., Omaha 402-399-6419 bryce.anderson@dtn.com

  2. DTN (Data Transmission Network) business-to-business info weather, commodity markets, news 80,000 clients U.S. and Canada Info via satellite and for-pay web delivery Specialized forecasts and analysis U.S. and World (South America, China, Europe, Australia, Canada)

  3. The Market Does Watch Weather • Spring through Early Summer • Planting through Full Growth/Start Reproduction • Corn—Pollination • Soybeans—Blooming • Corn—60 cents per bushel “weather premium” • Soybeans--$1.00 per bushel “weather premium”

  4. “Weather Premium in 2005” • Corn--$6.50 Billion • 60 cents/bushel x 10.86 billion bushels production • Soybeans--$3.00 Billion • $1/bushel x 3.00 billion bushels production

  5. Drought Monitor Re Grain Markets • A “validator”—not an indicator • Industry Use—approx. 20 per cent • Why?? • Delayed Publish Date vs Crop Ratings • Weather Forecast Updates

  6. Drought Monitor/Grain Price Action • July 18 Dec corn settles $2.70 • July 19 Dec corn settles $2.59 • July 20 Dec corn settles $2.52 ¼ • July 21 Dec corn settles $2.44 ¾ (DM July 19 release)

  7. D.M./Grain Markets in the Future • Re-Define Ag Drought?? • Change from Validator to Indicator • Possible Earlier-Week Publish Date • Regional Focus on Prime Grain Areas (ex: Corn Belt) • Ag/Seed Industry Input? • Above Dependent on Drought Monitor “Mission Definition”

  8. Drought Monitor Conference“The Drought Monitor and the Grain Market”DTN Bryce Anderson Senior Ag Meteorologist DTN Corp., Omaha 402-399-6419 bryce.anderson@dtn.com

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