From: Terry Reilly
Sent: Friday, September 28, 2018 11:12:50 AM (UTC-06:00) Central Time (US & Canada)
Subject: USDA reports attached + initial thought
Bearish all around but appears prices are stabilizing.
USDA reports attached
Corn futures are taking the largest hit from these reports as prices were up 5/6 last trading days, so funds exiting positions.
2017 soybean production revised up 19.1 mil bu Planted area is unchanged at 90.1 million acres, and harvested area is unchanged at 89.5 million acres. The 2017 yield, at 49.3 bushels per acre, is up 0.2 bushel from the previous estimate.
SOYBEANS 0.438 BLN BU (TRADE 0.401 BLN), WHEAT 2.379 BLN (TRADE 2.343 BLN)
US STOCKS SEPT 1-CORN 2.140 BLN BU (TRADE ESTIMATE 2.010 BLN)
Minor revisions were made to the June 1 stocks
US 2018 ALL WHEAT CROP 1.884 BLN BUSHELS (TRADE ESTIMATE 1.872 BLN)
By class – near expectations.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
W: 312.604.1366
AIM: fi_treilly
ICE IM: treilly1
Skype: fi.treilly
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smgr0918.pdf