Accuracy and corrections
Every number we send comes from a named government source or the exchange's official close as USDA prints it, and every report is checked before it goes out. When we get something wrong, it's listed here with the fix.
How we check
A sample with every market is read like a customer would: each price must match the official close USDA printed, be the newest one out, and say which day it's from. Arrows must agree with the numbers. No blank values. If anything's wrong, the report is held and fixed, not sent.
Every headline is checked against the move: right market, right direction, today's news, not an opinion piece. Ones that slip through are flagged after each report and the filter gets a new rule.
Grain, cattle and dairy closes are the exchange settlements as printed by USDA. We don't show prices we aren't licensed to show, and we say so when one isn't available.
We report what happened and where the numbers came from. We never tell anyone to buy, sell or hedge, and we don't make money when you trade.
Corrections
What was wrong: Cards still showed a 'Today: higher/lower' tag that could point the opposite way from the official close shown beside it (for example, corn 'Today: lower' next to 'Wed close: ▲ 3¢'). The tag came from an unofficial intraday quote we couldn't check.
Fix: Fixed Oct 29. The tag is gone from emails, texts and past reports while live prices are off. Each card shows one direction: the official close, with its day. The check before every send now holds any report with an intraday up/down call.
What was wrong: Texting BIDS with a ZIP code (BIDS 50010) answered with a settings message instead of the nearby bids.
Fix: Fixed Oct 29. BIDS with a ZIP now answers with the closest USDA bid areas.
What was wrong: Gold's Why line said gold slipped while its tag said Steady (gold moved less than 0.05%).
Fix: Fixed Oct 29. The headline check now uses the same 'steady' rule as the tag.
What was wrong: Price cards showed 'Higher today' next to the prior day's official close change (for example, corn 'Higher today' beside '▼ 6¼¢', which was Tuesday's close). The numbers were right, but nothing said which day each one was from.
Fix: Fixed Oct 28-29. Cards now read 'Today: ▲ higher' and 'Tue close: ▼ 6¼¢'. A check before every send holds any report where a change doesn't say its day.
What was wrong: After the Fed held rates at 1:00 PM, the page still said 'next decision Wed Oct 28'. The 2:00 report had the decision right.
Fix: Fixed Oct 28. The page shows the latest decision, and events drop off 'Coming up' once they're out.
What was wrong: Grain and cattle prices were the last trade before the close, not the official settlement, and could differ by a tick or two (Oct 14-15: grains by 1/4 to 1 1/4 cents).
Fix: Fixed Oct 16. Prices now come from the official settlements USDA prints, labeled with their date.
See a number that looks off? Tell us and we'll check it the same day.
Where the numbers come from
- Official futures closes (grains, cattle): USDA AMS Market News daily reports. Dairy: USDA Risk Management Agency.
- Cash grain bids and basis: USDA AMS state grain bid reports (25 states). Monthly farm prices by state: USDA NASS Agricultural Prices.
- Cash cattle, hogs, boxed beef, pork cutout, CME spot dairy: USDA AMS Market News.
- Supply and demand: USDA WAOB (WASDE). Crop progress, Cattle on Feed, Hogs and Pigs, land values: USDA NASS. Export sales and world supply: USDA FAS. Livestock insurance (LRP): USDA RMA.
- Energy: U.S. EIA. Metals: World Bank. Weather: National Weather Service. Drought: U.S. Drought Monitor. Big-fund positions: CFTC. Economy: BLS, BEA, Federal Reserve.
- Trade estimates before USDA reports: public news coverage of analyst surveys, credited each time.