VP and Chief Market Strategist of Zaner Ag Hedge. Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors.
Ok. So, I can’t do a handstand and also simultaneously do the splits. 🙄 BUT, I can do this (for a little added encouragement for the markets and China) #pftour22
U.S. corn ending stocks land well below market expectations on a smaller crop. The U.S. soybean crop was below expectations but up from last month, though an increase to exports trims ending stock projections.
🌽U.S. corn yield fell to 179.6 bpa this month, driven by declines in major states.
Despite a huge increase in Minnesota, Illinois and Indiana yields fell substantially, as did yield in Nebraska after last month's ear count controversy.
All trade estimates for USDA's supply & demand reports due Tuesday at 11am CT. U.S. corn and soybean production continue to be the main numbers to watch.
On average, corn & soybean yields tend to move *more* in November than in October. Quiet report not guaranteed.
China still needs to prove it will fulfill its commitment to purchase $17 billion of U.S. ag goods. @TheTedSpread talks with @brownfield about it.
https://t.co/2ynTmbK5Ko
Hey Ben. It is a survey they do to try to predict the final crop production and yield. Not necessarily the November WASDE report.
Their October production estimates were:
Corn - 16.115 billion bushels
Beans - 4.648 billion bushels
For what it's worth, our (Zaner Ag Hedge) estimates for the Nov WASDE report are 179.4 and final 178.2 (for now)
🌽StoneX now estimates U.S. corn yield at 183.1 bpa, above USDA's 181.2 and well above earlier market ideas in the mid-170s after summer heat and excessive rainfall raised concerns.
FYI: final corn yield was lower than StoneX's November estimate in 11 of the last 15 years.