Soybeans were modestly higher on short covering and technical buying. The USDA lowered production and yield but that’s using June’s acreage numbers as they resurvey producers for the August report. New crop U.S. and world ending stocks were both down on the month, mainly tied to the U.S. production adjustment, with minimal changes to the global numbers. The USDA’s 2018/19 and 2019/20 import estimates for China were unchanged, despite the spread of African Swine Fever having an impact on demand.
Continue reading Wheat leads on USDA supply, demand changes at Brownfield Ag News.
