The USDA estimated the combined 2020 Brazil- Argentina corn crop corn crop at 151 million tonnes (5.9 billion bushels) this month which compares to 152 million tonnes (a rounded six billion bushels) a year ago. Combined exports were forecast at 2.7 billion bushels in the current local crop year Read more…
The USDA did not make any changes to the U.S supply/Usage balance estimate this month. The old crop carryout to stocks ratio is estimated at 43% compared to 53% last year. The accompanying scatter study plots the March/June high for Chicago cash wheat as a function of the old crop Read more…
The USDA is scheduled to release the first corn area estimate of the season based on March intentions on March 31, 2020. We have developed a model which uses harvest to late winter price for Midwest corn and soybeans plus acreage the previous year to forecast the March intentions for Read more…
The corm market has been balanced between reduced supplies and weak export demand. The USDA estimates the U.S. corn carryout this fall at 1.9 billion bushels which is down from a year ago but not tight by historical standards. Foreign corn buyers have chosen to reduce burdensome stocks this season Read more…