Trade estimates for USDA’s November Supply and Demand report are bigger than the October USDA Supply and Demand report. Abbott Futures market analyst Ron McDaniel says how much bigger the supplies will be is the question. “I don’t think the USDA would cut exports that dramatically right away, but the trend is in that direction. The corn crop estimate size is all over the map, generally bigger.” McDaniel says Brazil’s crop season is off to one of its best starts ever. “They have one of the earliest planting and harvest sequences in modern time. In Argentina, there’s been lots of talk about La Nina’s dry footprint. Soybean planting seems off to a good start there, too.”
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