USDA World Supply Demand July

[charliep]

Just note that USDA has released their July forecasts. Nothing too new. Other factors (i.e. oil on a roll again) will be the market drivers today.

http://www.usda.gov/oce/commodity/wasde/latest.pdf

[charliep]

Not S&D but thought I would highlight outside factors that are likely to impact demand.

Note the Dow Jones has slipped under 11,000, down from 14,000 just last fall and back to levels of fall 2006.

http://futures.tradingcharts.com/chart/DJ/M

Also note that oil has headed back to highs again of $146 ish.

Some small minus numbers (so far) on corn/soybeans but trading other factors than todays report.

[Zaphod]

Note that the USDA is also projecting a huge global wheat crop and actually raised it again this month. I guess Bruce Burnett is not the only one out of touch.