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November Supply-Demand Summary

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November S&D Highlights

November 8, 2019

Market Trend

Information provided may include opinions of the author and is subject to disclosures found at the end of this document.

Pre-Report At Release Current (12:30)

Corn

-2 +4 to +5 +1

Soybeans

-4 -5 -8

Wheat

-1; -1; -2 +2; +1; -1 -5; -4 1/2; +1 1/4

U.S. Production

Oct 18/19 USDA Oct 19/20 USDA Nov 19/20 Trade Nov 19/20 Range Nov 19/20 USDA

Soybeans

4,428 3,550 3,510 3,3396-3,609 3,550

Yield

50.6 46.9 46.6 45.5-47.6 46.9

Harv

87.6 75.6 75.4 80.1-81.82 75.6

Corn

14,420 13,779 13,643 13,372-13,779 13,661

Yield

176.4 168.4 167.5 165.5-168.5 167.0

Harv

81.7 81.8 81.46 74.5-77.2 81.8

Sorghum

365 349 NA NA 357

Cotton

18.37 21.71 NA NA 20.82

U.S. Carry-Out

Oct 17/18 USDA Nov 18/19 USDA Oct 19/20 USDA Nov 19/20 Trade Nov 19/20 Trade Nov 19/20 USDA
Avg Range

Soybeans

438 438 913 429 306-521 475

Corn

2,114 2,114 1,929 1,799 1,479-1,959 1,910

Wheat

1,099 1,080 1,043 1,035 995-1,078 1,014

Sorghum

35 64 52 NA NA 51

Cotton

4.20 4.85 7.0 NA NA 6.1

South America Production

Oct 18/19 Nov 19/20 Oct 19/20 Nov 19/20

Arg Corn

51.0 51.0 50.0 50.0

Brazil Corn

101.0 101.0 101.0 103.0

Arg SB

55.3 55.3 53.0 53.0

Brazil SB

117.0 117.0 123.0 123.0

World Ending Stocks (MMT)

Commodity

Commodity Oct 18/19 USDA Nov 18/19 USDA Oct 19/20 USDA Nov 19/20 Trade Nov 19/20 USDA

Wheat

277.7 277.9 287.8 285-288 288.3

Corn

324.0 320.1 302.6 291-304 296.0

Soybeans

109.9 109.7 95.2 88-96 95.4

The risk of trading futures and options can be substantial. All information, publications, and material used and distributed by Advance Trading Inc. shall be construed as a solicitation. ATI does not maintain an independent research department as defined in CFTC Regulation 1.71. Information obtained from third-party sources is believed to be reliable, but its accuracy is not guaranteed by Advance Trading Inc. Past performance is not necessarily indicative of future results.

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