While a bearish report was expected overall, the report was viewed as bullish for both domestic and global soybean markets, with 2021-22 stocks estimates below expectations. Global wheat stocks were also estimated at a level that fell below the average of pre-report estimates, down from the previous month, while ending global corn stocks were revised higher. USDA does expect a record high corn yield after today’s numbers were released. View more from our friends at DTN/Progressive Farmer here: https://www.mydtn.com/agriculture/web/ag/news/article/2021/11/09/usda-releases-november-crop-wasde
More trade analysis with Jesse Allen and Arlan Suderman of StoneX below in this update:
https://open.spotify.com/episode/1fqJ0hKpukxliXF6Zhx3jw?si=kfY8NEJ8RA-53czloQn0Vw
