Breaking News 091219

| AgMarket.Net® AM Report, AgMarket.Net® Market Commentary

 

Today the news is suggesting a bottom but USDA report will end as the rule. Suspect a buy any break altitude today. US China FIG LEAF, S American dry continues, US forecast increasing chance of freeze, USDA report

 

  1. US – China offer a fig leaf (not sure if it is an olive branch)  to move forward
    1. U.S. President Donald Trump said on Wednesday the United States has agreed to delay increasing tariffs on $250 billion worth of Chinese imports from Oct. 1 to Oct. 15 “as a gesture of good will.”
    2. 12-Sep-2019 02:28:12 AM – CHINA’S COMMERCE MINISTRY SAYS WILL ROLL OUT SUPPORTIVE MEASURES TO STABILISE TRADE AT AN APPROPRIATE TIME
    3. 12-Sep-2019 02:32:19 AM – CHINA’S COMMERCE MINISTRY SAYS, ASKED ABOUT POSSIBLE U.S. AGRI PRODUCT PURCHASES, SAYS POSSIBLE PURCHASES INCLUDE SOYBEANS, PORK
    4. 12-Sep-2019 02:33:14 AM – CHINA’S COMMERCE MINISTRY, ON TRADE TALKS WITH U.S., SAYS WORKING TEAMS WILL MEET SOON TO PREPARE FOR NEXT HIGH-LEVEL MEETING
  2. USDA Report at export 7:30  and WASDE 11.00 cst
  3. Trade estimates for USDA weekly grain, soy export sales

 

All estimates are quoted in tons—Figures in parentheses represent net sales cancellations:

Trade estimates for 2018-19 Trade estimates for 2019-20
Wheat N/A 300,000-600,000
Corn (50,000)-50,000 500,000-900,000
Soybeans (50,000)-50,000 600,000-1,100,000
Soymeal 25,000-75,000 100,000-250,000
Soyoil 0-10,000 5,000-25,000

USDA September crop supply/demand report estimates

 

USDA 2019-20 U.S. corn and soybean production

USDA Sep. Average of Range of USDA Aug.
2019-20 analysts’ analysts’ 2019-20
estimate estimates estimates estimate
Corn
Yield _____ 167.2 163.0-171.5 169.5
Production ______ 13.672 13.040-14.003 13.901
Soybeans
Yield ______ 47.2 46.0-49.0 48.5
Production ______ 3.577 3.491-3.720 3.680

 

 

USDA 2018-19 U.S. grain and soybean ending stocks

USDA Sep. Average of Range of USDA Aug.
2018-19 analysts’ analysts’ 2018-19
end-stocks estimates estimates end-stocks
estimates estimates
Corn _______ 2.401 2.280-2.460 2.360
Soybeans _______ 1.054 1.015-1.084 1.070

 

 

USDA 2019-20 U.S. grain and soybean ending stocks

USDA Sep. Average of Range of USDA Aug.
2019-20 analysts’ analysts’ 2019-20
end-stocks estimates estimates end-stocks
estimates estimates
Wheat _______ 1.016 0.989-1.034 1.014
Corn _______ 2.002 1.570-2.269 2.181
Soybeans _______ 0.660 0.565-0.797 0.755

 

  1. https://uk.mobile.reuters.com/article/amp/idUKKCN1VX0LP

Dry weather in S America

  1. Increased forecast of threatening freeze in US

 

 

 

 

 

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