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Futures Close Report: 12th January 2018

 

USDA S&D Report

US corn increased to 14.604 bn bushels up from last estimate of 4.425 bn bushels.  For soybeans prediction was put at 4.392 bn bushels slight down from the previous 4.425 bn bushel estimate.  US end stocks for corn were seen at 2.47 bn bushels and soybean end stocks were increased to 470 million bushels.  Worth noting that stocks in the US at the start of December were the highest on record.

US wheat plantings for 2018 were put at 32.608 million acres – well above the average of analysts expectations which ranged from 30.1 to 32 million acres.