Grain markets continue to test our patience — This week in the grain markets

by

Opinion

On Thursday, October 11th, the USDA released the October WASDE report, showing a smaller U.S. corn crop, but still some relatively large global supplies, notably in soybeans. Going into the report, the market was a bit bearish, expecting 2018/19 corn, soybean, and wheat carryout in both the U.S. and around the world to increase. However, the market has also been thinking about the wet and/or snowy weather slowing harvest 2018 across North America. In the October WASDE though, global ending stocks did increase from the September estimate, but the market responded positively to smaller corn yields in the U.S.. Specifically,…

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