Big spike in AGs- what news?

[countryBoy641]

At 12:02 pm today, some AGs spiked.
What was the news?

 

[OptionsOptionsOptions]

Drought?

 

[countryBoy641]

OK, a drought.
But was there a big news story about this drought today at 12:03 pm?

 

[Overnight]

If memory serves, monthly AG crop reports are dropped on Wednesdays at noon ET. Will keep an eye on the cow folks, they may have something to say about it.

 

[BKR88]

At 12:02 pm today, some AGs spiked.
What was the news?

Quarterly grain stocks & planted acres report from USDA.
Mar 31st & Jun 30th (Q1 & Q2) are usually the most volatile days of the year for the grains.
Supplies are tight so acres below expectations added to the bullish situation. SA dry & now frost too soon.

 

[syammondsandrew]

I don’t know why this happens on Wednesday only. I must read more about this.

 

[TraDaToR]

Jun 30th and March 31st crop and acreage reports are bigger than monthly WASDEs. Those are the only reports I specially adjust existing positions and anticipate possible other candidates for.