The USDA released the first WASDE report of 2021 and the markets were quick to react.
2020 corn production was estimated at 14.43 billion bushels with an actual of 14.18 billion bushels. The average yield was 172.0 bushels per acre.
The 2020 soybean production was estimated at 4.16 billion bushels, with an actual of 4.14 billion bushels. The average yield was 50.2 bushels per acre.
Meanwhile, the 2020-2021 U.S. Stockpiles showed corn with an actual of 1.55 billion bushels as opposed to the estimate of 1.60 billion bushels. Soybeans came in with 140 million bushels over the estimated 135 million bushels. Lastly, wheat had an actual of 836 million bushels over the estimated 856 million.
Arlan Suderman of Stonex joined John Jenkinson as the markets reacted to the report release.
WASDE Report Update: Grains
WASDE Report Update: Livestock
Towards the end of our broadcast Zaner AG Hedge Vice President, Ted Seifried, spoke with John about what to do about these numbers.
Closing Market Reaction to WASDE Report: Grains
Closing Market Reaction to WASDE Report: Livestock
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