11/27/2024 Market Commentary
Rains have fallen across the Midwest and Great Plains, slowing post-harvest field work but helping the winter wheat crop. The USDA released November’s WADSE report, trimming back yields greater than expected: corn was cut by .7 bushels per acre, and soybean yield was trimmed back by 1.4 bu./ac. Trade had been expecting an increase in exports on the balance sheet, but corn remained unchanged and soybean exports were trimmed by 25 million bushels. Even with the changes, trade is comfortable with carryout numbers.