USDA raises U.S. corn harvest; wheat acreage forecast…

Corn and soybeans

The U.S.D.A. estimated corn production at 14,604 million bus and soybean production at 4,392 million bus

Corn production is now estimated at 14.604 billion bushels, up 26 million bushels when compared to the December WASDE. "Winter wheat acres came in higher than the average trade guess".

US soybean futures dropped to four-month lows on Friday, on pace for the fourth consecutive session of declines ahead of USA government crop data due at midday that was expected to show bigger global soy supplies.

The massive corn and soybean harvests flooded country elevators and strained storage bins.

President Trump denies using expletive to describe African countries
Nonetheless, Mr Trump vigorously defended his stance on immigration, insisting that he wanted a merit-based system of immigration. But Democrats were not the only ones objected. "I think Trump is a good president for me", Mario Gonzalez, from Cuba, said.

With only modest tweaks to demand, United States ending stocks also rose 40 million bushels to 2.477 billion bushels, higher than most analysts were expecting, but comfortably within a range that spanned 2.263 billion to 2.550 billion bushels. Quarterly stocks were the highest on record and we continue to swim in old-crop supply. Soybean ending stocks were raised too, largely due to a cut in the export forecast for the oilseed. Average corn yields were 176.6 bushels per acre. For ethanol and byproducts, projected corn use is unchanged at 5.525 billion bushels.

The 2017 soybean crop is pegged 43.9 billion bushels, 2 percent more in 2016.

Commodity funds were net sellers of CBOT soybean, soymeal, soyoil and corn futures contracts on Thursday and net buyers of wheat, traders said. Average soybean yield was estimated at 49.1 bus per acre, down from 49.5 bus in November and from a record 52 bus in 2016. Corn stocks as of December 1 were 12.516 billion bushels.

TransCanada (TRP) Coverage Initiated by Analysts at Bank of America
The institutional investor owned 274,206 shares of the pipeline company's stock after selling 3,365 shares during the quarter. Quantbot Technologies LP acquired a new stake in shares of TransCanada in the third quarter valued at approximately $178,000.

Wheat is up about half a percent this week, having risen 3.6 percent in four weeks of positive moves and corn is down 0.7 percent, the biggest weekly fall in a month.

USA corn production rose to 14.604 billion bushels, up from 14.578 billion in December and within the range of analysts' expectations, which on average had been braced for a 1-million bushel addition. USDA boosted the domestic soybean ending stocks forecast to 470 million.

The big Brazilian crop was likely to dominate global export trade markets in the months to come, stealing away market share from USA soy exporters.

Bernard Tomic slides out of the Open - and further down the rankings
Tomic will miss his first Grand Slam tournament in seven years and his ranking will dip even lower than 142, where he now sits. Tomic was completely outplayed in the first set going down 6-1 but rallied in the second, winning the tiebreaker 7-6.

Feed and residual use is down 25 million bushels, falling to 5.55 billion based on indicated disappearance during September-November as reflected by the December 1 stocks.

Últimas notícias