The USDA Released its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Monday, Sept. 12. Analysts concluded the U.S. ending stocks estimates were neutral for corn and wheat while bullish for soybeans. The world ending stocks estimates were seen as moderately bearish for corn, bullish for soybeans and neutral for wheat prices. The USDA cut corn production 415 million bushels (mb) to 13.94 billion bushels (bb) and cut soybean production 153 mb to 4.378 bb … Continue reading “USDA Crop Production and World Agricultural Supply and Demand Estimates (WASDE) for September 2022”
Soybean Futures Near 35 Week Lows on Hurricane Ida Damage
Chicago soybean futures fell under $13 a bushel near 35 week lows. Hurricane Ida halted traffic on the Mississippi river and caused power outages and damaged grain elevators and port terminals. Prices way up lower demand and trapped supply.
Corn, Soybean Futures Savaged After USDA Raises Yield and Production
Corn and Soybean Futures were crushed over 5% after the USDA realised higher than expected production and yields Tuesday. Both contracts were sitting vulnerable after triple tops and trading under the Ichimoku clouds.