ABIOVE

Brazilian Soybean Processors – Equivalent of NOPA

ABARE

Australian government crop estimating agency

AMS

Ag Marketing Service – USDA group that reports cash market data

AWB

Australian Wheat Board

BCI

Brugler Cycle Indicator, proprietary trend following market indicator

CBOT

Chicago Board of Trade, also known as CBT

CCC

Commodity Credit Corporation, runs government donation programs

CCP

Counter Cyclical Payment

CFTC

Commodity Futures Trading Commission (Gov't Agency)

CHI

Chicago

CIF

Cost, Insurance, Freight – type of export grain price

CME

Chicago Mercantile Exchange

COF

Cattle on Feed report from USDA

COT

Commitment of Traders Report (alternate Fridays, from CFTC)

CTA

Commodity Trading Advisor (registered with National Futures Association)

CWB

Canadian Wheat Board

Cwt.

Centerweight, 100 lbs., unit for livestock, rice, soy meal prices

ECB

Eastern Corn Belt, also European Central Bank

EEP

Export Enhancement Program (wheat exports used to get this USDA subsidy)

ERS

Economic Research Service – USDA branch that does price and income analysis

EU

European Union, 25 countries, and expanding

FAS

Foreign Ag Service – USDA export and statistics arm

FCS

FC Stone, issues private crop production forecasts pre-USDA

FND

First Notice Day (Day before Futures Deliveries begin)

FOB

Free on Board, Price of grain after loading on a boat at the port

FSA

Farm Service Agency, USDA Division in charge of Farm Program payments

GASC

Gen. Authority for Supply Commodities, Egyptian gov’t grain buyer

GMO

Genetically Modified Organism, i.e., Roundup Ready soybeans, btCorn

GSM

U.S. credit guarantee program for export

HRS

Hard Red Spring Wheat

HRW

Hard Red Winter Wheat

ICAC

Int. Cotton Adv. Committee, issues monthly world cotton S&D comments

IGC

International Grains Council – issues private world crop production estimates

ITS

Malaysian freight forwarder, reports on palm oil exports

KCBT

Kansas City Board of Trade

LDP

Loan Deficiency Payment, may be received if cash price is below loan rate in that county, and the grain is NOT entered in a government loan program

MACD

Moving Average Convergence Divergence, trend following chart indicator

mb, mbu 

Million bushels

MGE

Minneapolis Grain Exchange (symbol =MW)

MLG

Marketing Loan Gain, profit when a CCC loan is repaid at less than loan rate.

mln

Million

MMT

Million Metric Tonnes (2204 lbs. per tonne)

MPLS

Our short hand for Minneapolis Grain Exchange (symbol =MW)

NASS

National Ag Statistics Service – USDA Crop Production Estimates

NOPA

National Oilseed Processors Association, monthly soybean crush reports

P&P

Price & Probability Forecast, proprietary Brugler Marketing pricing tool

RB

Running Bales (cotton) ~500 lbs., larger than USDA statistical bales (480 lbs.)

RSI

Relative Strength Index, popular technical indicator

S&D

USDA Supply/Demand report

SRW

Soft Red Winter Wheat

WAOB

World Ag Outlook Board, USDA group (in ERS) that does Supply/Demand estimates

WASDE

World Ag Supply/Demand Estimate – Monthly USDA forecast balance sheet

WCB

Western Corn Belt

WWht

White Wheat

44%

44% protein soybean meal, old standard formulation

48%

48% protein soybean meal, Hi-Pro, now delivery standard for futures