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Red River Farm Network interviews Naomi Blohm of Total Farm Marketing on the November 9 WASDE. She notes that US wheat ending stocks fell while corn and soybean supplies rose.
The global market is relying on record South American production to offset a weaker world stock position.
With world ending stocks tighter than in previous years, the market's reliance on South American output makes prices sensitive to Brazilian and Argentine weather and crop size. This is commentary on the report rather than a new price driver.
rrfn.comDon WickNov 10, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
