Highlights of this week from CRM AgriCommodities
In the build up to tonight’s USDA WASDE, this week has recorded a string of bearish headline figures.
Ahead of today’s USDA WASDE, the USDA slipped up and released updated area information ahead of schedule. The USDA revised upward area estimates for Corn, Soybeans and Wheat – Read more here
Australian organisation ABARES released updated crop report information, providing confidence for wheat production while forecasting a record Canola crop. Read more here
The last piece of the pre-WASDE bearish news, contributing to the sliding global grain market were Canadian July 1st stock estimates, with Statistics Canada estimating stocks of particularly wheat and canola to be larger than the USDA estimates. Read more here