Grain Express 12/09/22
Posted: Dec. 9, 2022, 7:54 a.m.
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WASDE Day!
Today's WASDE (World Agricultural Supply and Demand Estimates) report is scheduled to be released at 11am CT.
United States Ending Stocks Estimates (Billions of Bushels)
- Corn: 1.237 (Range: 1.182-1.33, Last Month: 1.182)
- Soybeans: .238 (Range: .220-.296, Last Month: .220)
- Wheat: .576 (Range: .551-.602, Last Month: .571)
World Stocks Estimates (Millions of Tonnes)
- Corn: 300.86 (Range: 298-304, Last Month: 300.76
- Soybeans: 102.23 (Range: 98.5-106.26, 102.17)
- Wheat: 267.42 (Range: 262.5-272, Last Month: 267.82)
Argentina Production Estimates (Millions of Tonnes)
- Corn: 53.54 (Range: 52.0-55.0, Last Month: 55.0)
- Soybeans: 48.66 (Range: 47.0-49.5, Last Month: 49.5)
Brazil Production Estimates (Millions of Tonnes)
- Corn: 126.45 (Range: 125.0-130.4, Last Month: 126.0)
- Soybeans: 152.58 (Range: 152.0-155.09, Last Month: 152.0)
A Look at the Outside Markets
Outside markets are relatively quiet this morning, equities, crude oil, and the US Dollar. That may change at 7:30 am CT with the release of Producer Price Index data, a leading indicator of consumer inflation. The average analyst for Month over Month PPI is .2%.
Corn (March)
Managed Money Position: 193,989 (Updated with the weekly CoT Report)
Seasonal Trend in Play: March corn futures have trended higher from November 16th to January 4th for 13 of the last 15 years.
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Soybeans (March)
Managed Money Position: 103,196 (Updated with the weekly CoT Report)
Seasonal Trend in Play: March soybeans have trended higher from November 16th to January 9th for 14 of the last 15 years.
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Wheat (March)
Managed Money Position: -53,058 (Updated with the weekly CoT Report)
Seasonal Trend in Play: None
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