USDA Supply and Demand Estimates Arriving Next Week

(CHICAGO, IL) USDA is set to release their latest World Agricultural Supply and Demand Estimates (WASDE) next Tuesday December 11, 2018. Chicago-based Allendale, an analysis and brokerage firm, expects no change is expected for US corn production. They do expect exports to be lowered, but no changes are expected for production estimates for Brazil at 94.5 million metric tons (MMT) or Argentina at 42.5 MMT. As for soybeans Allendale expects no change for US production. The group does anticipate domestic crush estimates to rise. Still, export sales and shipments remain far behind USDA’s November export estimate so USDA may hold their export number unchanged at 1.9 billion with the current trade truce. Soybean production in Brazil is pegged at 121.6 MMT and unchanged for Argentina at 55.5 MMT. No change is expected for US wheat production, but exports could be lowered.