Clean Energy Futures

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USDA November WASDE Recap 11/8

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  • The USDA dropped yield for corn, but offset the production losses with demand losses. Carryout stays near 1.9 billion
  • No changes to yield, production or exports.  A 15 million reduction in crush raises carryout to 475 million
  • No substantial changes to the wheat balance sheet
  • Cotton saw a substantial yield cut, production fell 900 million bales to 20.8 million bales. Carryout falls from 7 million to 6.1 million

The winner of the report is cotton.  Corn is rallying as the yield hike being feared did not come to fruition. Wheat and soybeans are unch.

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