|
| The corn figure total production is equal to the 9-12 figure so they must be taking into account a small factor for lower acres or a lower harvested level. I personally think that the total planted corn acres may be as much as 600,000 less than the 90.9 million based on the 9-1-17 Farm Service Agency reported acres and making an adjustment for the 9-1-2016 reported to final 2016 acres that were shown in the January report.
A corn figure the same as the 9-12 report is neutral.
If you make the same adjustment on soybeans from the 9-1-2017 reported figure in relation to the change from 9-1-2016 to the final 2016 figure, soybean planted acres may rise by 500-700,000 acres in a future report. The Informa production figure is just 43 million higher than 9-12-17 report level and this will be offset by 44 million lower beginning stocks.
I am not sure if they will make planted acres adjustments in the October report or not but they could.
We must all remember that it is a world market and some may have their eye on the potential (or lack thereof) of a LaNina and what it might do to South American production.
| |
|
Informa
