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USDA Raised Corn, Soybeans, and Wheat in the World Supply and Demand Report

by Ben Nuelle 

Listen Here: Money Matters 11-10-16

USDA raised corn, soybeans, and wheat production in the World Supply and Demand Report Wednesday.

Bryan Doherty is with Stewart-Peterson says the recent WASDE report was negative.

Doherty says, “It showed that farmers are really good at what they do, especially in the western corn belt where we had some big increases in yield. So, it’s awesome year, great production, low prices, but you got to remember the backside of this coin is we have awesome demand right now.”

Doherty shares that the biggest demand is in the soybean market, particularly from china. “There’s a ravenous world demand for soybeans. We look at export inspections that’s grain that has been loaded on ships already. We can’t seem to load beans fast enough. They have gone right from field to ship this fall. That’s a really good thing.”

 

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