Big surprise means bullish USDA numbers March 8
By Doug Tenney, Leist Mercantile
Big surprise: USDA lowered Argentina soybean production 8 million tons to 33 million tons.
The word for of today is: unrelenting. Argentina’s current drought conditions are expected to continue for another two weeks with daily highs in the 90s and even into the 100s.
U.S. corn exports were down 75 million bushels, U.S. soybean exports were up 25 million bushels, crush down 10 million bushels. U.S. corn ending stocks up 75 million bushels. U.S. soybean ending stocks down 15 million bushels.
Brazil soybean production 153 million tons, last month was 153 million tons. Brazil corn production 125 million tons, last month was 125 million tons. Argentina soybean production 33 million tons, last month was 41 million tons. Argentina corn production 40 million tons, last month was 47 million tons. USDA today projected China would be importing 96 million tons of soybeans during the current marketing year from September to August.… Continue reading