How following figures will affect for the corn and wheat market?
USDA forecast the U.S. corn crop at 12.3 billion bushels, up from its July forecast of 11.7 billion and above trade expectations.
USDA also raised its corn yield estimate to 155 bushels per acre; it would be the second highest on record, after 2004.
USDA also raised world wheat production to a record 670.75 million tonnes, up from 664.24 million in July.
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Answers
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RobSmith answered 3 months ago …
I think it's just supply increasing to meet demand. But as ethanol fuel demand increases and the world's population continues to grow, we won't see prices come back down in a dramatic way. In other words, I don't we'll have "too much" on the supply side of things. it will either match or fall short of demand in the short run.
What do you think?
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