Home Crop Monitoring No big surprises in September WASDE report

No big surprises in September WASDE report

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Surprises have been few and much between in the U.S. Division of Agriculture (USDA)’s September World Agricultural Provide and Demand Estimates (WASDE) report on Friday. The main figures have been largely in line with pre-report estimates.

On the yield aspect of issues, U.S. corn and soybeans got here in simply barely above commerce estimates. Corn was estimated at 176.3 bu/ac in comparison with the typical commerce guess of 175.8 bu/ac, whereas soybeans got here in at 50.6 bu/ac versus the estimated 50.4 bu/ac.

 

Ending inventory numbers from the USDA have been additionally in line with commerce guesses:

USDA made some cuts to present 12 months soybean crush by 25 million bushels, whereas rising the exports by 35 million.

World wheat ending shares for 2021-22 have been reported at 283.2 MMT, barely above the 279 MMT expectations. World soybean carryout was in line with expectations, at 98.9 MMT versus 97 MMT. The USDA’s world corn ending inventory estimate for 2021-22 was larger than expectations, nonetheless, at 297.6 MMT as an alternative of the typical commerce guess round 286 MMT.

As Matthew Pot, of Grain Views, summarizes, the commerce report got here in precisely as anticipated. “Still looking at the fact that we’re in the middle of September, there’s lots of seasonality still at play in the next two weeks,” he says.

Pot provides extra perception in this interview with RealAg Radio host Shaun Haney under:



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