Monday we told you what the expectation was for wheat nationally this year. The focus now moves to several of the other staples. If last week’s USDA supply and demand forecast for 2018 hold true many commodities will see smaller crops than 2017, but prices could increase because of that.
The USDA predicting the corn crop 14 billion bushels, down from about 14.6 billion bushels this past year. This based on smaller acreage and yield. Stocks could fall and the expect price could be about 40 cents a bushel higher at about $3.80 and bushel.”
Soybeans could see a similar situation. Meanwhile, cotton acerage is higher, but more abandonment is expected thanks to the extremely dry conditions already plaguing the southwest.
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