Since 1990, there has not been a strong tendency for NASS to either raise or lower the national soybean yield estimate in the October crop report. There have been 12 years that the yield was reduced by an average of 0.8 BPA, 14 years that NASS’s yield increased by an average of 1.1 BPA, and…
AgResource has further lowered Southern Hemisphere wheat production due to a lack of needed rainfall in Sep and early October. A needed pattern shift is offered to eastern areas of Argentina’s wheat belt moving forward, but yield damage has already occurred across key parts of Cordoba & Buenos Aires. And Australian rainfall in the last…
The recent decline in carryin stocks and a year-over-year decline in production worth 810 Mil Bu will maintain basis levels as well as spot futures above $3.70 into winter. Yet, large non-US supplies and a looming surge in production in 2020 – assuming normal weather – will act as a weight on rally efforts. Notice…
NASS is once again in the process of compiling the results of the farmer and field surveys for the October Crop Report, to be released in 2 weeks. The table above reflects AgResource’s best guess for the current crop’s potential. The chart plots the results of a crop condition-based yield model, which estimates a national…
Brazilian trade data for the month of September showed a continued seasonal decline in the monthly shipment rate. Brazilian exporters told the government that shipped 4.5 MMTs of soybeans for the month, which was just below last year’s record September export figure. Cumulative exports for the year now total 62 MMTs and are down 8%…
