News Details

2021 Final January USDA Crop Reports Extremely Bullish Surprise & Shock for Corn!

(Jan 12, 2021)

2021 JANUARY USDA WASDE 20/21 U.S. CROP ESTIMATES 

20/21 U.S. CROP USDA JANUARY JANUARY TRADE EST. USDA DECEMBER
Corn Harvested Area (Mil Acres) 82.5 82.543 82.527
Yield (bpa) 172 175.3 175.8
Production (Bil Bu) 14.182 14.470 14.507
Ending Stocks (Bil Bu) 1.552 1.590 1.702
Soybeans Harvested Area (Mil Acres) 82.3 82.305 82.289
Yield (bpa) 50.2 50.5 50.7
Production (Bil Bu) 4.135 4.158 4.170
Ending Stocks (Bil Bu) 0.140 0.140 0.175
Wheat Ending Stocks (Bil Bu) 0.836 0.860 0.862

Source: USDA, QTPlus, Reuters

 

2021 JANUARY USDA 20/21 WORLD ENDING STOCKS (MMT)

WORLD 20/21 USDA JAN. JAN. TRADE AVG. USDA DEC.
CORN 283.83 283.5 288.96
SOYBEANS 84.31 82.70 85.64
WHEAT 313.19 315.4 316.5

Source: USDA, QTPlus, Reuters

 

2021 JANUARY USDA WASDE - 20/21 SOUTH AMERICAN PRODUCTION 

(in MMT) USDA 20/21 JAN. 20/21 JAN. TRADE AVERAGE USDA 20/21 DEC.
ARGENTINA
CORN 47.5 47.4 49.0
SOYBEANS 48.0 48.4 50.0
BRAZIL
CORN 109.0 107.7 110.0
SOYBEANS 133.0 131.4 133.0

Source: USDA, QTPlus, Reuters

 

USDA DEC. 1, 2020 QUARTERLY GRAIN STOCKS REPORT

(Bil Bu) USDA Dec. 1, 2020 Pre-Report Estimates, Dec. 1, 2020 USDA Sept.1, 2020 USDA Dec. 1, 2019
Corn 11.322 11.95 1.919 11.327
Soybeans 2.933 2.92 0.525 3.252
All Wheat 1.674 1.695 2.158 1.841

Source: USDA, QTPlus, Reuters

 

2021 JANUARY U.S. WINTER WHEAT PLANTINGS

(Mil Acres) 2021 January USDA Jan 2021 Market Est. 2020 USDA
All Winter Wheat 31.991 31.528 30.415
Hard Red Winter Wheat 22.3 22.14 21.362
Soft Red Winter Wheat 6.23 5.884 5.564
White Winter 3.48 3.514 3.489

Source: USDA, Reuters

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.