Initial reactions: Wheat futures down 2%; Corn and Soybeans up a few pennies.
From DTN Progressive Farmer, December 9:
This article was originally posted at 11:01 a.m. CST. It was updated at 11:20 a.m.
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OMAHA (DTN) -- Lower exports caused USDA to bump up ending wheat stocks higher than expected, increasing ending stocks to 598 million bushels (mb) while USDA made no monthly changes to domestic corn or soybean supply or demand in the December World Agricultural Supply and Demand Estimates (WASDE).
USDA cut 2021-22 wheat exports by 20 mb to 840 mb in the report.
According to DTN Lead Analyst Todd Hultman, Thursday's U.S. estimates were neutral for corn and soybeans and slightly bearish for wheat. Hultman pegged the world ending stocks estimates as a little bearish for corn and wheat, and a little bullish for soybeans.
Stay tuned throughout the morning and refresh this page often as we will be sending a series of updates with the important highlights from today's reports, including commentary from our analysts.
You can also access the full reports here:
-- Crop Production:
-- World Agricultural Supply and Demand Estimates (WASDE):CORN
USDA made no monthly changes to the December numbers for domestic corn supply and demand but made multiple changes to the global numbers....
....MUCH MORE
USDA Wasde home
