FULL USDA REPORT BREAKDOWN

Written By Sebastian Frost

AUDIO COMMENTARY

  • Increased old crop bean carryout and left bean yield alone

  • Corn yield lowered but slightly disappointing

  • Essentially said we had damage in June, but weather in July has stopped the damage

  • New crop carry out beans 50 million less than last month but 100 more than estimates

  • Buying opportunity in the beans?

  • Did today’s report opened the door for lower yields in the future

  • Wheat numbers were not super bullish or bearish

  • For beans the big thing was decreasing demand

  • Outlook for beans is still bullish despite report

  • The big mistake was the South American numbers

  • Will corn hold it’s recent range and bounce to $5.50?

  • Soybeans remain in a weather game

Listen to today’s audio below

THE NUMBERS

Sebastian Frost
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