News Details

2020 USDA Feb. Crop Report a dud with no big surprises and mostly neutral BUT ....

(Feb 11, 2020)

USDA did increase the 19/20 Brazil soybean crop to a massive record 125 mmt from 123 last month. Global ending stocks for corn was lower than January but soybeans were up 2 mmt and wheat slightly lower.

USDA reduced U.S. 2019/20 ending stocks for wheat and soybeans (increase in exports for both), while corn stocks stayed the same at 1,892 billion bushels (reduction in exports offset by increase in use for ethanol). Production for all was left unchanged.

Maurizio “Moe” Agostino
Moe is the Chief Commodity Strategist. He is responsible for developing plans and assisting clients in the feed, grain and livestock industry to help them protect themselves from commodity price swings. Moe holds a Derivatives Market Specialist (DMS) designation as well as an Honors Degree in Business Administration. Moe has more than 15 years of financial services industry experience.