Today's monthly supply and demand revisions from USDA were not expected to have too much of an impact on the markets, and sure enough, they did not. Here are the key points from the WASDE:
USDA reduced the corn export forecast by a whopping 75 million bushels, but it increased feed/residual use by an equally whopping 100 million bushels. This was the bullish surprise for today. USDA raised corn imports by 25 million bushels and left ending supplies unchanged. USDA left soybean ending supplies unchanged at 125 million bushels. The market was looking for increased crush and maybe increased exports, but got neither. USDA reduced the wheat export forecast by 25 million bushels. This was a bearish number. USDA reduced the soybean produc...
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...
