Updates Bulletins

Provide USDA Updates

Weekly Review and Outlook for November 18, 2019

Date : 18th Nov 2019

In this issue, corn, soybean, and wheat trends shift toward bearish in the short-term. The corn market remained weak during much of last week. U.S. soybean sales to China have accelerated lately. Cotton futures remained within a tight range last week and much more! 

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NOPA Report November 15, 2019

Date : 15th Nov 2019

NOPA reported that members crushed a new record of 175.4 million bushels of soybeans in October. The October results were slightly above the high end of all published trade guesses. Members produced 2.030 billion lbs. of soybean oil in the month, versus 1.809 billion lbs. produced in September and above 2.017 billion lbs. produced last year. The report pegged the monthly oil yield at 11.59 lbs. per bushel, which was off 0.29 lbs. per bushel from 11.86 lbs. in September. NOPA members produced 4.115 million tons of soybean meal. This calculates to a meal yield of 46.92 lbs. per bushel, up 0.04 lbs. from September. Finally, members’ soybean oil stocks on hand at the end of October still slipped nearly 19 million lbs. from September as implied consumption offset larger supplies.

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Weekly Review and Outlook for November 11, 2019

Date : 11th Nov 2019

In this issue, chart trend update shows that trends are mostly remained unchanged from last week. Many ag markets were affected by the WASDE Report released on Friday morning. Examples of this include: the Friday USDA reports provided belated support for corn before the weekend; and the U.S. and China apparently built momentum toward a partial trade agreement in late October and early November, which provided considerable support for soybean futures. But the market stalled when the USDA didn’t cut its crop estimate Friday.

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November 2019 WASDE Report Reaction

Date : 08th Nov 2019

In this issue, USDA released its November WASDE Report. Ahead of USDA's reports, corn futures were trading around 2 cents lower, soybeans were 4 cents lower, wheat futures were fractionally lower and cotton futures were down about 30 points. In reaction to the reports, corn futures closed 1 to nearly 3 cents higher, soybeans ended around a nickel lower, winter wheat futures settled 2 to 3 cents lower, spring wheat futures ended fractionally to a penny lower and cotton futures finished 15 to 30 points higher.

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Weekly Review and Outlook for November 4, 2019

Date : 04th Nov 2019

In this issue, the U.S./China trade deal not being finalized and news coming out of questions of when the deal could be signed cause constant price fluctuations. Gold futures have struggled recently. Disappointing Chinese purchases of U.S. pork continued undercutting hog futures last week. The USDA WASDE Report will be out on November 8.  

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NOPA September 2019 Monthly Crush Report

Date : 15th Oct 2019

On Tuesday, October 15, NOPA released its monthly crush report. NOPA reported that members crushed 152.6 million bushels of soybeans in September. Although these were the second most bushels ever crushed for September, they totaled well short of the record that the trade was anticipating. Results were opposite to those of last month when the crush was far above expectations and easily set a record. The September results were below the low end of all published trade guesses. Members produced 1.809 billion lbs. of soybean oil in the month, versus 1.965 billion lbs. produced in August and below 1.849 billion lbs. produced last September. 

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Reaction to the October WASDE Report

Date : 10th Oct 2019

In this issue, ahead of USDA's reports, corn futures were trading 2 to 3 cents lower, soybeans were steady to fractionally lower, winter wheat futures were steady to 2 cents lower, spring wheat futures were around a penny higher and cotton futures were steady to 15 points higher. In reaction to the report data, corn futures turned decidedly lower, down 12 to 14 cents due to sales by disappointed traders looking for a larger supply reduction. Soybeans climbed strongly in initial response to the bean supply reductions, but gave back a sizeable portion of the rise in response to spillover pressure from corn and wheat. Wheat futures tumbled 7 to 11 cents, with the winter wheat markets leading to the downside. Cotton futures had rallied prior to the data release, but turned lower in apparent response to the corn and wheat losses as well. 

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September 30 Grain Stocks and Small Grains Reports Reaction

Date : 30th Sep 2019

In this issue, the USDA released the 2019 Quarterly Grain Stocks and Small Grains Summary Reports on September 30, 2019. The report had some low numbers for corn and soybean crops. September 1 corn stocks are estimated at 2.114 billion bushels, down 26 million bushels from a year ago. The soybean yield estimate is now 50.6 bushels per acre. The previous estimate was  51.6 bushels per acre. For wheat, USDA revised its latest estimate of total 2019 U.S. wheat production 18 million bushels lower to 1.962 billion bushels, which fell below the average pre-report forecast of 1.971 billion by nearly 10 million.

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September 2019 WASDE Report Reaction

Date : 12th Sep 2019

In this issue, optimism today about potential trade deals with China outweighed the mostly bearish corn forecasts while enhancing bullish soybean supply/demand developments. Soybeans clearly surged in response to the report, despite official 2019 yield and production numbers slightly exceeding industry expectations. Wheat followed corn and soybeans higher. Cotton futures had rallied strongly in the minutes prior to the release, set back somewhat when the numbers came out, then resumed the rally into the close.

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Stats Canada July 2019 Canada Field Crop Survey

Date : 28th Aug 2019

In this issue, the July Canada field crop survey, released on August 28 by Statistics Canada, shows farmers across that country anticipate less production of wheat, canola and corn in 2019 from a year earlier, but more barley and oats produced.Cool and wet spring weather in eastern Canada resulted in poor planting conditions and contributed to slow crop development early in the season. During the collection period, the situation improved in southern Ontario and eastern Quebec.  

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