Analysis

Verdin View: October WASDE surprises investors with corn & soy estimate cuts

Analysis12 Oct 2020by Agrimoney Newsdesk

The US Department of Agriculture took a knife to its corn and soybean estimates for its ongoing harvests in the October WASDE report, cutting forecasts by more than investors had expected.

Agrimoney Editor in Chief, Mike Verdin, talks about what was behind the USDA’s surprise decision, the impact on the market, and what this could mean for South American producers.

More WASDE coverage:

In addition to our Verdin View, find more in-depth analysis on the October WASDE report below:

ANALYSIS: October’s Wasde report for cotton is useful but far from definitive

Trade forecasts for the USDA’s October 9 Wasde report

Corn prices hit 1-year high, soy a 3-year top, after US cuts crop hopes

Dryness worries grow for Brazilian corn, sugar producers

"If the forecasted rains disappoint later this week, there is a strong possibility that the Brazilian corn estimate may be lowered"

Morning markets: 'Smell of inflation' arouses bullish forces

Wheat finds particular support as the reflation trade rises back up the agenda, hastened by US consumer price data

Evening markets: Buoyant China imports spur grain price rebound

Grain futures stage a turnaround Tuesday, helped by expanding Chinese imports. The likes of coffee and cotton end higher too

Coffee to consume tea, and refresh next stage of demand growth

Fitch Solutions sees world coffee demand resuming long-term growth - driven by expanding consumption in countries where tea has historically been the brew of choice