See our infographic of the December 10 USDA Crop Report. (Click to view larger image)
Watch Steve Freed’s reaction to the December 10 Crop Report here.
- USDA December report was boring with little changes.
- USDA lowered U.S. wheat carryout due to higher exports but raised World wheat carryout to a new record.
- USDA raised slightly World corn and soybean carryout due to higher China supply.
- In January USDA can change U.S. 2019 corn and soybean crop production.
- It is too early for USDA to alter South American crops.
- Trade will now watch if U.S. raises tariffs on China goods on Dec 15.
- China has been a buyer of U.S. soybeans this week as a gesture of good faith.
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