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Veteran Advisor

Yep...everything back to normal !;

USDA report comes out....less crop than presumed....
Naturally....markets go down !
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4 Replies
Veteran Advisor

Re: Yep...everything back to normal !;

Maybe we should shut the USDA down again?

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Veteran Advisor

Re: Yep...everything back to normal !;

You are surprised?  You've never seen it before?  In my mind, it is a frequent occurrence that the market has news priced in already and has overshot the report.

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Senior Contributor

Re: Yep...everything back to normal !;

I didn’t see anything bearish in the report
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kansfmr
Senior Reader

Re: Yep...everything back to normal !;

I did. HRWW ending stocks went from 468 M Bu. In Dec. report to 491 M Bu., since the August ‘18 report, ending stocks have went from 394 to the current 491, and with the inverse between old crop and new crop Russian wheat, importers of wheat will try to make it to new crop and keep there old crop imports to a minimum, which will probably have the impact of raising HRWW ending stocks even more by the end of the marketing year.
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