Thursday’s AgriTalk After the Bell featured USDA’s Crop Production and Supply & Demand Reports. Host Chip Flory and news anchor Davis Michaelsen stepped through the details of the reports, ranging from year-to-year changes in USDA’s winter wheat yield estimates to the 36-million-metric-ton slashing of USDA’s projected 2018-19 global corn ending stocks estimate.
“That’s the headliner from the reports,” said Flory. “Global corn consumption in 2018-19 is expected to outpace global production by nearly 36 million metric tons… which is an increase from the 33 million ton spread between production and consumption this year. We’ve got the fundamentals of the corn market pointed in the right direction. Unfortunately, we didn’t see much of a positive price reaction from corn today… but that’s probably coming later.”
Catch the whole discussion from AgriTalk After The Bell on the player above