{"id":3565,"date":"2018-08-14T14:52:02","date_gmt":"2018-08-14T18:52:02","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=3565"},"modified":"2018-08-14T14:52:02","modified_gmt":"2018-08-14T18:52:02","slug":"commodity-market-update-august-14-2018","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/pt\/commodity-market-update-august-14-2018\/","title":{"rendered":"Commodity Market Update, August 14, 2018"},"content":{"rendered":"

Commodity Market Update August 14, 2018<\/h3>\n

Grains<\/span><\/strong><\/p>\n

Last Friday the USDA released the August 2018 monthly WASDE (World Agricultural Supply and Demand Estimates) report.\u00a0 The data in the WASDE report on crops Yield (in Bushels per Acre) and crops Ending Stocks (in Billions of Bushels) all came in higher than Reuters estimates of the numbers.\u00a0 The data release caused prices to fall significantly.<\/p>\n

Specifically, Reuters estimated corn yield for 2018 to be 176.2 bushels\/acre, whereas WASDE reported 178.4 bushels\/acre, a new record (Chart 1, year 2018).\u00a0 Reuters estimated corn ending stocks at 1.636 billion bushels, while WASDE \u00a0reported 1.684 billion bushels (Chart 2, year 2018).<\/p>\n

Chart 1<\/span><\/strong><\/p>\n

\"\"<\/p>\n

Chart 2\u00a0<\/strong><\/span><\/p>\n

\"\"<\/p>\n

Soybeans yield was estimated by Reuters to be 49.6 bushels\/acre, whereas the WASDE reported number was 51.6 bushels\/acre (Chart 3, year 2018).\u00a0 Reuters estimated soybeans ending stocks at 0.638 billion bushels, while the WASDE reported number was 0.785 billion bushels (Chart 4, year 2018).<\/p>\n

Chart 3\u00a0<\/strong><\/span><\/p>\n

\"\"<\/p>\n

Chart 4<\/strong><\/span><\/p>\n

\"\"<\/p>\n

The WASDE report was released at 11:00 am Friday. \u00a0Prices dropped significantly at that time (see the price candlestick charts, Charts 5 and 6).\u00a0 Prices continued to trade lower through the rest of the trading day.\u00a0 September Corn settled at $3.5775 per bushel, down 11.5 cents (-3.2% ) for the day (Chart 5).\u00a0\u00a0 September Soybeans settled at $8.5075 per bushel, down 42.25 cents (-5.0%) for the day (Chart 6).<\/p>\n

Chart 5<\/strong><\/span><\/p>\n

\"\"<\/p>\n

Chart 6<\/strong><\/span><\/p>\n

\"\"<\/p>\n

Subscribe to our email list for more articles, and follow us on Twitter @fundanalytics or on LinkedIn.<\/p>","protected":false},"excerpt":{"rendered":"

Commodity Market Update August 14, 2018 Grains Last Friday the USDA released the August 2018 monthly WASDE (World Agricultural Supply and Demand Estimates) report.\u00a0 The data in the WASDE report on crops Yield (in Bushels per Acre) and crops Ending Stocks (in Billions of Bushels) all came in higher than Reuters estimates of the numbers.\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3565","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/3565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/comments?post=3565"}],"version-history":[{"count":2,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/3565\/revisions"}],"predecessor-version":[{"id":3573,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/3565\/revisions\/3573"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/media?parent=3565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/categories?post=3565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/tags?post=3565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}