February 8 USDA Crop Report Summary

Key Report Takeaways

  • USDA lowered U.S. 2018 corn crop 206 mil bu and soybean crop 56 mil bu.
  • USDA lowered U.S. 2018/19 corn end stocks 45, lowered soybean 45 and raised wheat 36.
  • USDA raised World 2018/19 corn end stocks, lowered soybean and lowered wheat.
  • USDA estimated U.S. 2019 winter wheat acres lower than last year.
  • USDA lowered Brazil 2019 soybean crop 5 mmt, lowered China soybean imports 2 mmt.
  • Key to prices now U.S. and China trade deal or no deal.

Watch Steve Freed’s¬†analysis of the¬†February Crop Report here.

The information conveyed by ADMIS or its affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity futures contracts.

2019-02-08T18:50:19+00:00 February 8th, 2019|