Markets Preparing for WASDE Report, Firms Make Predictions

November 4, 2016 04:15 PM
 
 

USDA will release its latest supply and demand report Wednesday, and markets are getting ready for adjustment from yield expectations.

Soybean markets are seeing choppy action this week as traders position themselves for the report.

Commodity brokerage firm FC Stone is putting out its own pre-report forecast, raising the 2016 soybean estimate to a nationwide average of 52.8 bushels per acre, compared to USDA October yields at 51.4 bpa.

FC Stone is forecasting the corn crop to reach 175.3 bushels per acre, comparable to the August report. The October report showed bushels coming in at 173.4.

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