USDA pares US soybean, corn yield estimates
CHICAGO, Nov 8 (Reuters) -The U.S. Department of Agriculture on Friday lowered its estimates for the average yields of the U.S. 2024/25 soybean and corn crops by more than analysts expected, lifting Chicago Board of Trade soybean Sv1 and corn Cv1 futures.
Highlights:
* USDA November supply/demand report summary nL1N3MF12B
* USDA lowers US soy, corn harvest estimates nL1N3MF0YN
* Trade estimates for corn, soybean crops nL1N3MB16Z
* Trade estimates for U.S. grain stocks nL1N3MB16W
* Trade estimates world crop end-stocks nL1N3MB16Y
COMMENTS:
* RICH NELSON, CHIEF STRATEGIST FOR ALLENDALE INC:
"The decline on soybean yield, this would be the largest percentage drop from the prior month in quite some time. A 2.6% correction, in fact, would be the largest correction in over 25 years on a percentage basis. We had a very dry finish. If you go back to 1980, the August and September rainfall was literally the lowest on record. Dropping moisture right ahead of harvest certainly did tighten up some of the (soybean) supply, near-term."
* DON ROOSE, PRESIDENT OF U.S. COMMODITIES:
"When you look at it overall, late August, September moisture levels were just too low. Overall, we still have adequate supplies, but I think we're just balancing back here."
* CRAIG TURNER, COMMODITY BROKER AT STONEX GROUP:
"The (soybean) yield is coming down and we expected that. But that yield drop is a lot bigger than we thought it would be ... There's no point for soybeans to go below $10 (per bushel). And if we have any weather issues in the South American crop, we're going to see soybeans in a $10 to $12 market."
"We're now adequately supplied for corn, rather than burdensomely supplied. What this report tells me is that a normal trading range for corn, with a run-of-the-mill weather market, we've got a $4 to $5 (per bushel) corn market on our hands for this spring."
* ANGIE SETZER, PARTNER AT CONSUS AG:
"The trade is surprised. (USDA's yield estimates) came in less than what traders were expecting. It's supporting the prices at the very least ... I thought they could have made a move with demand and seen a bump to corn exports, which would have made the carry-out lower. There's a lot of time to see future adjustments lower."
* JACK SCOVILLE, VICE PRESIDENT OF PRICE GROUP:
"It's bullish. The market was looking for unchanged yield estimates, and that's not what they got on beans and corn, and that's responsible for the (futures') move higher. They (USDA) cut back on demand for beans and they left it alone for corn, and that added to corn bullishness."
* SUSAN STROUD, FOUNDING ANALYST, NO BULL AG:
"This market is having a poor reaction to what otherwise would be considered a bullish report."
Reporting by Chicago commodities desk
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
