PDF attached, see page 2
Implied 2020 US corn production suggests its down 1 billion bushels from June S&D after USDA lowered the planted area by 5.0 million acres from March Intentions. Soybean plantings increased 315,000 acres. The cotton area were lowered 1.5 million acres. The acreage of the 8-major crops came in at 246.7 million, 6.720 million below March. Some producers may have decided you cant make as much money in some of these commodities than previous years. The implied soybean production is near unchanged from the June S&D, while wheat is 50 million bushels below June.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
W: 312.604.1366
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Stocks0620f.pdf