There were two primary considerations in the USDA 1 September quarterly stocks estimates and annual small grains summary reports that were released this morning.USDA released its 1 September quarterly stocks estimates (see table below) and annual small grains summary reports this morning. There were two primary considerations in these reports:
The 1 September stocks estimates will become the ending stocks numbers for the 2016/17 soybean and corn marketing years that ended 31 August. USDA will have to adjust the supply and demand numbers in the 12 October WASDE to reflect those numbers. USDA did not adjust harvested acres of spring wheat in any of its previous estimates. There has been talk all summer that significant acres of spring whe...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...