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08

November USDA Supply & Demand

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The USDA just released their world and U.S. crop estimates and U.S. corn and bean yields were both cut.

Prices rallied but were quickly driven lower by what looked like massive selling. At least it was massive enough to absorb all of the buying and take prices lower on the day.

 

We hope you took advantage of our corn Sell Signal to get the sales made you needed. The Sell Signal ended with the decline in corn prices this afternoon, but if you need money now, don’t wait to sell some corn.

 

We think prices will cycle back to the downside, find where the buyers are and rally back above today’s high before year end. Don’t panic.

 

2018-19 USDA U.S. Yield (bu/acre)
 
USDA Nov
2018-19
Average Trade Est.
Range of
Trade Est.
USDA Oct
2018-19
Corn
178.9
180.1
178.2-181.4
180.7
Soybeans
52.1
53.0
52.5-53.5
53.1
 
2018-19 USDA U.S. Production (bln bu)
 
USDA Nov
2018-19
Average Trade Est.
Range of
Trade Est.
USDA Oct
2018-19
Corn
14.626
14.729
14.576-14.967
14.778
Soybeans
4.600
4.676
4.637-4.706
4.690

2018-19 USDA U.S. Grain Carryout (bln bu)
 
USDA Nov
2018-19
Average Trade Est.
Range of
Trade Est.
USDA Oct
2018-19
Corn
1.736
1.775
1.566-2.105
1.813
Soybeans
0.955
0.906
0.820-1.010
0.885
Wheat
0.949
0.969
0.925-1.031
0.956
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These data and comments are provided for information purposes only and are not intended to be used for specific trading strategies. This commentary is written as a daily marketing tool to help farmers sell the grain they raise. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. Past performance and testimonials are not necessarily indicative of future results. Commodity trading involves the risk of loss, and you should fully understand those risks before trading.