USDA can adjust corn yield higher/lower than trend on the coming May 10 WASDE. Higher than trend would need an aggressive planting of at least 70% by May 10. We'll likely start the year 'at trend' with the expectation we'll be near to the five year average of 50% on May 10.
This is my yesterday update, in clear opposition to the #USDA#WASDE numbers. Everyone who wants to join my daily updates just needs to send me a DM and I will add to my #WhatsApp list #vegoils#soybean#oilseeds
Uncertainty regarding 23/24 #corn production in #Argentina persists after the Secretary of Agriculture, Livestock, and Fisheries released its first estimate for the crop year at 56MMT, on Friday. It is surprisingly 1MMT above the April WASDE, and well above local estimates.
Roughly 30 million acres are used for corn ethanol production in the USA (2021 - 5.4 billion bushels in 2021 ethanolproducer.com/articles/less-…, 2023-24 projection - 5.375 billion bushels ethanolproducer.com/articles/wasde…) (2 of 8)
The April World Agricultural Supply and Demand Estimates (WASDE) report didn’t bring any fireworks to the market, as anticipated, but there was one surprise found in the report, find out what it was: agcountry.com/en/News/2024/A…