The USDA’s next supply and demand report is due Friday.

News

The USDA’s next supply and demand report is due Friday.

An agricultural economist says farmers need to keep an eye on a few things ahead of Friday’s USDA Supply and Demand Estimate (WASDE).

Advance Trading’s Brian Basting advises keeping an eye on US export performance.

“I think they will increase their corn exports compared to what they were in October.” He says, “We’ll get an update on ending inventories and then corn. The October 24-25 corn ending inventory was 1.999, effectively 2 billion bushels.”

He tells Brownfield that November’s WASDE has caused some of the market movement over the past decade.

“I looked at the changes in the December corn contract and the January beans contract, and there were years where it was pretty quiet, but there were other years in the last 10 years where it was a significant move both up and down. increase. I would say in the opposite direction,” he says.

Basting says lower ending inventories on Friday could be positive for prices, but other variables such as increased production in South America and imports from China will also play a role.

AUDIO: Brian Basting – Pre-Trade