ARRRRGGGGGHHHHHHH!!!

Beat head here..

AGAIN.. FROM THE WASDE which has BRAZILIAN PRODUCTION at 122 mmt's vs LAST YEAR's 120..

THE LAST FORECAST WAS FOR 114 mmt's.. DOWN 6 vs LAST year and 8 vs the LAST WASDE UPDATE!!

Since the WASDE is CONSERVATIVE.. I would guess they will come in around 118.. maybe 120 on the next one BUT EVENTUALLY around 115.. 112..  110.. When do the Yields STOP DROPPING?

The FORECAST IS FOR MORE HEAT!!

( http://soybeanandcorn.com/news/Jan31_19-Early-Soy-Yields-out-of-Mato-Grosso-do-Sul-and-Goias-Disappoint )

During the month of December, the region basically went 30 days without rain. They then received some limited rains around the first of the year, but they then endured another 15 days without rain during January. During both of these periods, the temperatures were very hot.

We know that South America WILL HAVE LESS SOYBEANS to ship..

Brazil estimated at 72..vs the Last WASDE of 81 from PRODUCTION of 122 which is GONE now.. Paraguay and Argentina at 10.8 combined.. = 82.8 vs 76.2 Brazil, 6.2 Paraguay and 2.11 Argentina = 84.51 mmt's last year.  DOWN 1.71 mmt's.

It has to come from somewhere..

THEN the US is GOING TO CUT ACRES!!

World Stocks have grown.. and now will SHRINK!!

Are you talking Last year.. or Going forward?

2018 crop.. or 2019?