We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Privacy Terms and Cookie Policy
Balanced Reporting. Trusted Insights.
Wednesday, July 06, 2022
The USDA said Friday bumped up its forecast for U.S. soybean exports and dropped its prediction for ending stocks as Chinese demand remains strong and competition from Brazil is less than expected.
A flurry of Department of Agriculture reports Wednesday showed bin-busting production of corn, sorghum, soybeans and cotton took place in 2021, largely matching what traders were expecting to see.
Department of Agriculture officials increased soybean and corn yields which helped push ending stocks projections higher in Tuesday's World Agriculture Supply and Demand Estimates report.
American farmers are going to be producing more corn and soybeans than expected this year, which will mean lower expected prices for the crops, according to a new USDA forecast that boosted the department’s predictions for yields in both crops.
Agriculture Department officials left corn, soybeans, and wheat projections mostly unchanged in Tuesday’s World Agricultural Supply and Demand Estimates report.