The Dec. 12 WASDE report helped corn by raising ethanol usage by 50 million bushels, which reduced ending stocks—good news according to Jerry Gulke as he spoke to Host Pam Fretwell on Farm Journal Radio. The report appeared to be neutral to a little unfriendly in beans.
Gulke says most were expecting an increase in stocks due to a decrease in exports, however, as we continue to lower exports in beans, we still haven’t matched the decrease in exports that the USDA has forecast earlier.
USDA also increased the carryover of wheat due to a lowering of exports, which means we've apparently lost some more competitive advantages, he says.
This leads us into barring any unknown eco-political events, a more peaceful holiday season until the next all-important Jan. 12 report, which is the final reconciliation of NASS on yields and production and often holds a bigger surprise than the Dec. report.
Listen to the full report on this special edition on Farm Journal Radio.