World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary

Upon detecting the sharp increases in WASDE estimates of world corn and wheat production/stocks, computer trading programs launched sell orders that quickly sent futures prices tumbling (also noted in today’s separate analysis). Wheat futures prices fell 8-10 cents, soybean prices dropped 15-16 cents, and corn was quickly down about 6 cents. The higher world supplies of corn and wheat were due almost entirely to increases in annual Chinese corn and wheat production/stocks estimates dating back to 2007. Cumulatively, these revisions led to very large increases in USDA’s November estimates of Chinese and thus world ending stocks from its estimates of just a month ago. Undoubtedly, these statistical increases catch the eye or the a...

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feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

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