Grain Markets Eyes on Usda Report

How Did the Usda Report Impact the Grain Market?

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European Grain Markets

  • While news is more supportive for prices, grain markets react negatively to December USDA report.
  • The corn market had the most significant fall in production and stocks globally, and despite a record in Australia, wheat production and stocks were also down by a small amount
  • The initial reaction in the canola market is also negative, given that if you exclude soybeans, the production and stocks of oilseeds in the World are also down

American Grain Markets

  • To a large extent, an explanation for what happened is given to us by the latest COT report from the CME, according to which US funds continue with a massive shortening of the main grain markets
  • Âs well as the weather in South America, that remain the main driving force in the markets, and clearly negative sentiment is not only prevailing but intensifying

Black Sea Grain Markets

  • The news in the USDA report relates mainly to markets in the Black Sea region, with maize being the most affected with a 4.5Mmt drop in the Ukraine crop and a 1Mmt drop in Russia
  • The sunflower harvest is also down slightly, by 0.5Mmt in Russia and by 0.1Mmt in Ukraine. Wheat yields are unchanged in both, in contrast to exports, which are up by 1Mmt and 1.5Mmt respectively

Import/Export Statistics

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