Closing Comments
Lynn Miller
December 9th, 2015
USDA Monthly supply & demand report, pretty much a non-event today. We knew they weren’t going to light any fires, but at least they didn’t pull the rug out from under us.
Corn – 1.785 Million bu US carryout vs. 1.760 last month
Beans – US Carryout unchanged from November at 465
Wheat – US carryout unchanged from November at 911
Corn:
Underwhelming – the word of the day as far as I’m concerned. The WASDE report did nothing to give us direction. Reducing exports as expected 50 million bushels and then adding 25 million back in to corn use for ethanol, thus the 25 million bushel change. This gave the market nothing new to trade. No new news didn’t help our cause much either.