From: Terry Reilly
Sent: Thursday, November 08, 2018 11:11:57 AM (UTC-06:00) Central Time (US & Canada)
Subject: FI Snapshot for USDA’s S&D
USDA adopts China’s corn NBS supply, adjusts demand – World corn stocks up 148MMT, down 33.4MMT from last year
USDA lowers US soybean exports by 160 million bushels, lifts carryout 70 million after lowering production 90 million. Shows they are aggressive on low export commitments.
After adjusting 2017-18 US soybean oil carryout, new-crop stocks were lowered 201 million pounds.
US corn carryout lowered 77 million bushels.
We still like long corn/short soybean positions, and owning some wheat.
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
ICE IM: treilly1
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