What do the two reports mean for corn and soybeans in 2017?
If corn planting intentions are near the low end of expectations, the report could provide support for old- and new-crop prices.
This soybean stocks estimate may not provide much new info despite recent growth in marketing year ending stocks and concerns about the size of the SAM crop.
When combining production forecasts for South America with projected changes in domestic use, the competition in export markets looks to be particularly tough.
The March 1 estimate provides the ability to calculate the magnitude of feed and residual use of corn during the second quarter of the marketing year.
The time of year to develop corn balance sheet projections for the upcoming crop year is upon us.
The development of soybean prices over the next year depends on the prospective size of the 2017 U.S. crop and the prospects for stocks at the end of the 2016-17 marketing year.
The current pace of corn consumption indicates corn prices may stay in the price range from $3.40 to $3.70 for the next several weeks.
Soybean prices increased dramatically over the week ending January 20 on reduced production estimates for the U.S. and increased uncertainty in the prospects for South American soybean production.