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2018-19 market outlook for corn and soybeans
Story Date: 5/15/2018
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Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 5/14/18
The USDA released the first projections for U.S. corn and soybean supply and demand in the 2018-19 marketing year on May 10. Forecasts for both crops indicate lower ending stocks next marketing year with a substantial decrease in corn ending stocks. The upcoming growing season's impact on production is a crucial determinant to a possibility of lower ending stocks next year. However, the projections for marketing year consumption levels provide essential information in forming expectations for corn and soybean prices. The consumption projections for both crops reflect the potential market size under a scenario consisting of lower supplies and higher prices.
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