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Tidbits, USDA Numbers, May S&D, Geomagnetic Storm, Estimates Accuracy 5/11/24

Highlights


USDA changes for South America:

  • Argentina’s bean crop unchanged at 50 million mts.

  • Brazil’s bean crop was reduced by 1 million mts to 154, about 6 to 7 million higher than most estimates.

  • Reduced Argentina’s corn crop 2 million mts to 53, which is 6 to 10 million mts above most estimates.

  • Reduced Brazil’s corn crop by 2 million mts to 122 million mts, 9 million mts above CONAB, which will give their May S&D numbers on Monday.

  • Increased Ukraine’s 2023 corn crop by 1.5 million mts to 31 million, about 3 million above the average estimate.

 

On their domestic S&D, the USDA increased old crop corn use by 100 million bushels, which was long overdue! Take a close look at the attached USDA S&D numbers in farmers’ language. Besure to compare the new crop numbers with the old crop numbers.

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