STOCKS/ACRES REPORT HIGHLIGHTS
- A few surprises from USDA has the ag market lower
- Bearish US Wheat crop estimates
- Bearish US Sep 1 Soybean stocks
- Friendly US Sep 1 Corn stocks
- Markets also down as Government shutdown nears
- USDA estimated US Sep 1 corn stocks at 1,361 mil bu vs 1,429 expected and 1,377 ly
- USDA estimated US Sep 1 soybean stocks at 268 mil bu vs 242 expected and 274 ly
- USDA estimated US Sep 1 wheat stocks at 1,779 mil bu vs 1,772 expected and 1,778 ly
- USDA estimated US 2023 all wheat crop at 1,812 mil bu vs 1,729 expected and 1,734 in August.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.