From: Terry Reilly
Sent: Friday, August 10, 2018 11:17:45 AM (UTC-06:00) Central Time (US & Canada)
Subject: FI snapshot for USDA report – bearish



Trade missed forecasting the very large US soybean production. 4.586 billion is 179 million above the average, US ending stocks for 2018-19 + 205 million from last month, 147 million above trade average – to a huge 785 million bushels.


US corn production ended up at 14.586 billion, 175 million above average, 2018-19 US stocks +132 million from last month


US wheat production was 1.189 billion, 9 million above average, 2018-19 ending stocks down 50 million from last month


2018-19 global stocks +7.7 soybeans mom

2018-19 global stocks only down 1.9MMT for world wheat

2018-19 global stocks up 3.5MMt for corn


See attached that include US mom changes for both crop years and major world changes


Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International │190 S LaSalle St., Suite 410│Chicago, IL  60603

W: 312.604.1366

AIM: fi_treilly

ICE IM:  treilly1

Skype: fi.treilly


Description: Description: Description: Description: FImail


Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons.  All of these investment products are leveraged, and you can lose more than your initial deposit.  Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction.  The information provided here should not be relied upon as a substitute for independent research before making your investment decisions.  Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs.  All investors should obtain advice based on their unique situation before making any investment decision.  The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative.  The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions.  Futures International, LLC and its principals and employees may take positions different from any positions described in this communication.  Past results are not necessarily indicative of future results.