markets 11/9 usda production report
The USDA numbers appear bullish this morning.
Crop Production:
Crop Production:
- Beans 3.204 bln. bu. (avg. est. 3.24 bln. bu.)
- Corn 10.745 bln. bu. (avg. est. 10.838 bln. bu.)
Carryout:
- Beans .565 bln. bu. (avg. est. .583 bln. bu.)
- Corn .935 bln. bu. (avg. est. .912 bln. bu.)
The lower than expected production on corn should be enough to ignite a frenzy of buying with beans and wheat bidding up prices in acreage competition.
Gold has recovered somewhat from its down move on Wednesday, but it still appears weak overall.
posted by jared @ 5:02 AM
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