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Bearish USDA Crop Report - Pushing Soybean, Corn and Wheat Futures Lower.

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    #1

    Bearish USDA Crop Report - Pushing Soybean, Corn and Wheat Futures Lower.

    CME Group Video news analysis.
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    #2
    Bearishness came from the large year-over-year increases in Brazilian soybeans and corn.

    Soybean production estimated at 108 million MT
    Ave trade estimate 106.1 million MT
    Last year 96.5 million MT

    Corn production estimated at 91.5 million MT.
    Ave trade estimate 87.6 million MT
    Last year 67.0 million MT

    Brazil is now experiencing its worst depression ever.
    Their demand and need for foreign currency is contributing
    to this massive scale-up in production.

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      #3
      meanwhile canada is out of canola, wonder how long before some speculators get caught with pants around ankles ??

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