AgResource pegs final 20/21 US corn end stocks at 1,094 million bushels. This compares to the USDA’s Sep WASDE estimate of 1,187 million, and there remains the risk that final old crop stocks drop to or below 1,000 million Bu. Industrial and export use is known. Changes to 20/21 US corn supply and demand now…
The USDA’s soybean stocks estimate for the 2020/21 crop have been in a wide range from the initial estimates back in May 2020. The initial forecast put stocks at 405 Mil Bu, while the USDA’s estimate peaked in August 2020 at 610 Mil Bu. Since February, the forecast has ranged from 120 Mil Bu to…
The September NOPA was viewed as supportive as the August crush rate came in above expectations. NOPA reported a crush total of 159 Mil Bu, which beat the average trade estimate of 154 Mil Bu. Regionally, crush rates were sharply mixed across the country. Compared to a year ago, the crush rate was down 5.6…
Stats Canada released updated major crop production forecasts based on satellite monitoring and weather as of August 31. Stats Can’s prior estimates released August 30th were based on surveys and crop health as of July 31. Stats Can’s new estimates lean bullish as major exporter stocks/use tightens further and as global canola stocks/use will be…
AgResource expects NASS’s Small Grains Summary on Sep 30 to feature a 40-60 million bushel decline in final US wheat production. This downward adjustment will be due partially to lower winter wheat yields but mostly due to enlarged spring wheat abandonment across the PNW and Northern Plains. The attached graphic shows that Aug to final…
