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Remains concerned about Argentine corn that is currently being planted.
Says downside risk remains to crop estimates.
Also increased Mexico’s corn import forecast.
Lowers Argentine corn estimate another 2 million metric tons.
This week’s reports removed the focus on tight supplies and sent prices lower. Weather trouble here or abroad could still move prices back up.
See the data, read the biggest news and listen to analysis of today’s Crop Production and WASDE reports.
It is not clear why, on average, analysts expected a 30-million-bushel reduction in the estimated size of the crop.
In some instances values are higher than in the Midwest.
Tomorrow we’ll know exactly how these reports will rock the markets. Here are some expert expectations.
Rain chances improve for Argentina, but heat dome expected to return.