Today's USDA crop production estimates and WASDE revisions confirmed what the market has been expecting (and trading) for the past week or longer. The U.S. soybean production estimate was raised by a full 1.5 bushels per acre, which amounted to 111 million bushels (3 MMT). Corn production was increased marginally. Here are the highlights: Soybeans
Production increased by 111 million bushels. There was no change to the harvested acres number. That could come in the January "final" report. Crush was increased by 20 million bushels and the export forecast was increased by 80 million bushels. U.S. ending supplies increased by just 10 million bushels. Production estimates for Brazil and Argentina were unchanged from the October estimat...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...