USDA REPORT SEEN FAVORING THE CORN ‘BEARS’

By Bob Linneman

In a typical year, the November and December USDA Supply and Demand reports do not warrant high levels of uncertainty. That is, traders have a good idea of what will be said regarding U.S production estimates up to that point. However, 2019 could easily be an exception. Traders are generally expecting to see the report favor the bears for corn and favor the bulls for soybeans. The slow harvest pace this fall does add some volatility as traders are still not certain how the USDA will handle the estimates.