U.S. yield for #soybeans in August has also been underestimated for six straight years, and in five of them the USDA number topped all trade estimates.
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Bit of a different trend for #soybeans. Final yields have been lower than the August forecast three years running (2017 just 0.1 bu/acre lower). But USDA's August number was too low between 2011-2016. 50+ seemed unimaginable in 2016. But it happened, and now that's the baseline.
Gee, I wonder if the report was bullish or bearish (-:
Obviously VERY bullish. Corn touch limit up!
USDA cut 6 million tonnes off its July estimate for #Brazil's #corn crop, now pegged at 87 mmt. #Argentina's #soybeans were also trimmed 0.5 mmt.
Ending stocks are getting kind of skinny.
Agreed.
Very bad close for the beans and corn..........too much rain in the week 2 forecast probably.
https://www.marketforum.com/forum/topic/71672/#71684
Wheat, however looks like the new upside leader!
However, seasonals for all 3 are UP after the August crop report to just before harvest.