Total exports of soy oilmeal in the first seven months of the fiscal started April is nearly 5 times higher to 5.37 lakh tons compared to 1.07 lakh tons a year ago. That would put average USA corn yields even higher than 2016's record-breaking effort of 174.6 bpa. Corn for ethanol was left unchanged at 5.475 billion bushels. USDA moved the yields much further, however, to a bullish estimate of 175.4 bpa. If that comes to fruition, that would stand as the best average yield in the state since 2010, when it was 151.0 bushels per acre. The increase resulted from a 298-million-bu increase in forecast 2017 corn production, at 14,578 million bus, partially offset by a 75-million-bu increase in 2017-18 feed and residual use at 5,575 million bus, and a 75-million-bu increase in forecast exports at 1,925 million bus.
Bottom-line, record yield being forecast for the USA more than offsets the reductions in the global forecast.
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And he made sure that I saw his gun, which I had never seen a gun in real life. "I got out of there unscathed", she said. Actress Portia de Rossi has accused actor and producer Steven Seagal of sexual harassment.
"Corn is the centre of attention after the USDA report". As I've said for many many weeks, I don't believe the low is yet in place.
The USDA production and yield estimates all were above average trade expectations of 14,323 million bushels and 172.3 bushels an acre for corn and 4,404 million bushels and 49.2 bushels an acre for soybeans, respectively. "USDA also increased its forecast of Brazilian production, though it's still too early to be making real judgements there".
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Commodity funds were net sellers of CBOT corn, soybean, soymeal and soyoil futures contracts on Thursday and net buyers of wheat, traders said.
"January futures are fighting to hold above the support line drawn off August-November lows, which comes in around $9.90, which is also right on the 25-day moving average", he says. In turn, ending stocks are pushed higher from 2.340 billion to 2.487 billion bushels. Durum carryover was raised 1 million bus to 28 million bus based on a like increase in supply.
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