friendlier

2018 Setting a Friendlier Tone for Commodities

Dan Industry News Release, Soybeans

friendlierOn Friday, the U.S. Department of Agriculture released reports that included World Ag Supply and Demand and 2017 Crop Production figures.

The agency said American farmers posted an average of 176.6 bushel per acre after the 2017 corn harvest, bringing in a total of 14.604 billion bushels.

The soybean harvest brought in 4.329 billion bushels, with an average yield of 49.1 bushels per acre across the Country.

Mike Zuzolo from Global Commodity Analytics says 2018 is setting itself up as a friendlier commodity environment.

Environment

USDA cut soybeans exports for the second consecutive month, resulting in over 11 percent in stocks-to-use domestically.

Soybeans

U.S. grain stocks came in at 12.516 billion bushels of corn, 3.157 billion bushels of soybeans and 1.874 billion bushels of wheat. Zuzolo.

Stocks

Zuzolo said the biggest factor for the markets in the short-term will be South American weather.

From the National Association of Farm Broadcasting News Service.