Porto Alegre, November 16, 2020 – The\nUSDA’s November supply and demand report brought an important and structural\nsurprise with the cut in the U.S. crop. No estimate in the U.S. private sector\npointed to a new loss of production in the announced proportion. USDA confirmed\nthe new number of losses and consolidated a corn price for the CBOT above USD\n4.00\/bushel until the 2021 crop in September. This is because the cut in stocks\nwas also accentuated to the lowest since 2014, which puts pressure on the\nresults of the South American crop in 2021 and the next U.S. planting. USDA\nalso forecast the increase in Chinese imports for this business year.<\/p>\n\n\n\n
The 2020 U.S. crop was planted in a\nperfect window, that is, until May 30 for corn, and until June 15 for soybeans.\nThere were no obstacles as in 2019 for planting, nor for development in July in\nthe critical stage of corn pollination. In August, a storm hit Iowa and part of\nIllinois, with strong winds, damaging most corn plantations and some of\nsoybeans. The sequence was a drier climate for both these states. However, corn\nwas ready, and the drier climate reached soybean crops, basically, due to the\ndecisive moment for the level of production.<\/p>\n\n\n\n
USDA cut production in the September and\nOctober reports, and there was still no market expectation that the cuts could\ngo any deeper. In this month of November, the market still expected some\ndownward adjustment, and the department brought a bigger than expected cut.\nProductivity fell to 175.8 bushels\/acre, the lowest since 2018, bringing\nproduction to 368.5 million tons, still a good historical figure, but well\nbelow the initial projections of 384\/400 million tons.<\/p>\n\n\n\n
Ag\u00eancia SAFRAS Latam<\/p>\n\n\n\n
Copyright 2020 –\nGrupo CMA<\/p>\n","protected":false},"excerpt":{"rendered":"
Porto Alegre, November 16, 2020 – The USDA’s November supply and demand report brought an important and structural surprise with the cut in the U.S. crop. No estimate in the U.S. private sector pointed to a new loss of production in the announced proportion. USDA confirmed the new number of losses and consolidated a […]<\/p>\n","protected":false},"author":5,"featured_media":20857,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[102],"tags":[],"commodity":[],"class_list":["post-21268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agribusiness-en"],"acf":[],"yoast_head":"\n