USDA has released their latest WASDE numbers.
Our market specialist Tony St. James has a break down of the numbers.
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USDA’s steady yields and heavy global stocks keep grains range-bound unless demand firms or South American weather becomes a real threat.
USDA released the November WASDE Report on Friday, the first supply-and-demand estimate to drop since September, just before the 43-day government shutdown.
The government reopens after 43 days. USDA resumes key reports, weighs farm aid, and watches China’s next move on U.S. soybean purchases.
Friday’s release will be the first WASDE report in about two months, and early estimates indicate a corn surplus is still on the way.
If the House concurs and the President signs, USDA services and farm-bill programs resume at full speed with authorities extended for another year.
The WASDE/Crop Production combo will be the first full read on supply, demand, and yield that could move basis and hedging plans since the government shutdown more than a month ago.