Bottom Line: If INTL FCStone’s corn estimate is too high, the median error (in years when the INTL FCStone estimate was too high) was 1.6%. Based on INTL FCStone’s estimate of 13,590 Mil Bu, that would equate to about 206 Mil Bu less – – or 13,384 Mil Bu. USDA’s July WASDE corn crop projection…
** 6:30 AM CDT CBOT Prices: Nov soybeans are up 5.75 cents at $9.775, Dec corn is up 3.00 cents at $3.795 while Sept Chi wheat is up 4.00 cents at $4.6525. ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT prices turned around overnight on bargain hunting and a supportive corn yield estimate…
In this week’s newsletter, we take a look at the US wheat cash market, as well estimate global wheat supply and demand in 2018/19.
Wheat futures continue to correct from mid-July’s highs as Black Sea production estimates inch higher, and as corn and soybean markets are no longer offering much support. ARC maintains that the US corn yield is, at best, 164-166 BPA, but on the margin crop threats will be in retreat. An improved Central US pattern will…
US Forecast Maintains Cool Pattern; Models Disagree on Rainfall: Overall, the US pattern will be wetter – compared to July – in the next two weeks, and excessive heat will be absent from all but parts of the Central Plains & Dakotas. A pattern shift was due, and coming rainfall will be rather timely for…
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