Before USDA’s November 2020 WASDE was released, the grain trade generally expected a mildly bullish report. But there was nothing mild about the November WASDE. It was flat out bullish, possibly the most bullish November WASDE ever if such comparisons were measurable. USDA’s outlook for corn was sharply altered by the following:
The national average corn yield was lowered 2.6 BPA to 175.8 BPA.
The November production estimate is 14.507 billion bu, a reduction of 216 million bu from October. Estimated U.S. corn exports for 2020/21 were raised by a large 325 million bu to 2.650 billion bu, a new record. Lower production and larger exports resulted in estimated ending stocks of 1.7 billion bu, 465 million bu lower than U...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
