Latest USDA Wasde report released
November 12, 2015
The USDA has released its latest Wasde forecasts with bigger-than-expected upgrade across soybeans. US inventories are suggested to end at 465m bushels, the highest in nine years and 29m bushels more than investors had previously forecast.
Wheat stock estimates were also lifted to a six year, increasing by 50m to 911bn bushels. US exports are predicted to the be the lowest in 40 years, downgraded by 50m bushels to 800m bushels.
The biggest surprise came from the world corn inventory with estimates lifted by 24.1m tonnes to 211.9m tonnes due to a forecast increase for supplies in China.