Friday, October 10, 2014

USDA Releases World Agricultural Supply Demand Estimates, Markets Get Whacked

Corn down 10, soybeans down 16, wheat up fractionally. But...
AgWeb is calling a bottom.
Yield per acre stes a record:
Corn: Yield by Year, US
171.7 was the figure cited in the September WASDE.
From AgWeb:
Complete Coverage of Oct. 10 USDA Reports
Below is AgWeb's full coverage of the Oct. 10, 2014, reports, which include USDA's Crop Production and World Agricultural Supply and Demand Estimates (WASDE).

News and Analysis

Corn Prices Likely to Have Bottomed but Beans to Fall Further

See how the reports are affecting commodity prices. Visit the Commodity Markets Center on AgWeb.

World Agricultural Supply and Demand Estimates

Corn Production Raised to Record 14.475 Billion Bushels
Soybean Production Jumps to Record 3.927 Billion Bushels
Worldwide Wheat Demand Will Rise to Record 714.1 Million Tons
Total Meat Production Raised
Cotton Production, Stocks and Prices All Lower
Rice Production Raised on Higher Yield Forecast

Crop Production

Corn Harvest Could Be Biggest Ever in Production, Yield

...MORE
Here's corn, both today's reaction and the recent bottom (both charts FinViz):
and: