Today's USDA reports were very bullish corn, somewhat bullish wheat and neutral for soybeans. Here are the key issues: Corn
1 December corn stocks more than 200 million bushels (5 MMT) below expectations. Corn feed/residual consumption was raised 350 million bushels (8.8 MMT). U.S. corn ending supplies dropped to 600 million bushels (15 MMT). U.S. sorghum supplies also at bin bottom because the 1 December sorghum stocks number was also much smaller than expected. World corn ending supplies cut 1.6 MMT to 116 MMT. China has 52 percent of corn ending supplies.
Wheat
U.S. HRW acres are 800,000 less than in 2012. The market expected an increase, and this sharpens the focus on the very poor HRW crop condition because of the dr...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
