Futures Close Report 8th November

USDA

• US Soybeans put at 3.55 billion bushels based on a yield of 46.9 Bpa;
• Wheat production lowered to 1.920 billion bushels from last estimate of 1.962 billion;
• US corn production seen at 13.661 billion bushels based on a yield of 167bpa.

Ending Stocks

• Corn seen at 1.910 bn bushels – analyst estimate was 1.817bn so corn demand well behind required pace;
• Soybeans end stocks were raised by 15 million bushes to 475 million well beyond analyst estimates for 428 million.

Heavy weather continues to cause planting problems for UK –  with wider issues across the EU –  French maize is still being harvested and with we conditions may have disease issues to contend with.