Home Market Market Watch USDA Update

USDA Update

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USDA Update

At midday, corn is -2, soybeans are +15, Chicago wheat is +7, KC wheat is +9, Minneapolis wheat +12, Jan feeders -2.250, Feb fat cattle -1.925, Feb hogs +.050.

US ending stocks numbers came in close to trade expectations with soybeans being the lone standout, -60 mln bushels less than last report. South American soybean crop grew mainly in Brazil.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16/17 US Ending Stocks

 

 

bln bu

USDA Jan Est.

Average Est.

Est Range

USDA Dec Est

 

 

Corn

2.355

2.385

2.206-2.800

2.403

 

 

Soybeans

0.42

0.468

.407-.510

0.480

 

 

Wheat

1.186

1.148

1.113-1.340

1.143

 

 

 

 

 

 

 

 

 

16/17 US Production Estimates

 

 

 

Jan USDA Est.

Average Est.

Range

Nov USDA

 

 

Corn

15.148

15.196

14.999-15.320

15.226

 

 

Corn Yield

174.6

175.1

172.3-176.5

175.3

 

 

Harvest Acres

86.7

86.747

85.514-88.231

86.836

 

 

 

 

 

 

 

 

 

Soybeans

4.307

4.374

4.262-4.440

4.361

 

 

Soybean Yield

52.1

52.7

51.6-53.5

52.5

 

 

Harvest Acres

82.70

83.013

82.500-83.400

83.05

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All opinions expressed in this commentary are solely those of Water Street Advisory. This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. There is significant risk of loss involved in commodity futures and options trading and may not be suitable for all investors.

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or 1-866-249-2528

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