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| USDA NUMBERS
South America:
Argentina numbers come in unchanged from last month despite estimates being slightly higher.
Corn: 55 vs 55 last month vs 55.7 est
Beans: 50 vs 50 last month vs 50.8 est
Brazil corn comes in as expected but Brazil beans were very disappointing. Only dropping from 157 to 156 while the estimates were 153.
Corn: 124 vs 127 last month vs 124.3 est
Beans: 156 vs 157 last month vs 153 est
For comparison here was CONAB this morning:
Brazil Corn: 113.7
Brazil Beans: 149.4
US Carryout:
All 3 come in above expectations. But the biggest surprise to the upside was beans on a reduction to exports while both corn and wheat saw no changes to exports
World Ending Stocks:
Corn and wheat both come in below estimates and last months numbers
Soybeans however came in above last months numbers and the estimates
Edited by Mr.Grain 2/8/2024 11:46
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USDA Numbers
