Porto Alegre,\nSeptember 14, 2020 – The USDA\u2019s September report must\nnot bring additional news. However, the storm that occurred in Iowa in August\nbrought some expectations of cuts due to the losses of local crops. In this\nreport, USDA updated its production forecast, cut demand, and increased exports\ndue to increased purchases from China. China, which also has a weather problem\nin the northeast of the country, its main corn-producing region, and depending\non the assessment of losses may even increase corn imports for the 2020\/21\ncycle. With the current high U.S. stocks, this Chinese picture may have a\ndiscreet effect on global prices.<\/p>\n\n\n\n
The\nstrong storm that hit Iowa, the largest U.S. corn-producing state, on August 10,\nbrought several expectations to the international corn market. Even with the\nposition of USDA itself, days after the event, and with the crop tour pointing\nto potential losses of 100 to 500 million bushels, the market focused on creating\na certain speculative environment for this cut in production. In other words,\nthe exacerbation of an isolated weather event.<\/p>\n\n\n\n
USDA\ncorrected production according to expectations, that is, a cut from 388 to\n378.5 million tons. As a large part of this corn \u2018lying\u2019 in the fields can be\nused for silage, there was also a cut in the demand for corn grain, which allowed\nstocks not to fall in the same production as the cut in production. Stocks\ndropped from 70 million tons, projected in August, to 63.6 million tons. In\nother words, they are still large stocks that guarantee supply to the United\nStates and an increase in exports.<\/p>\n\n\n\n
Ag\u00eancia\nSAFRAS Latam<\/p>\n\n\n\n
Copyright 2020 – Grupo CMA<\/p>\n","protected":false},"excerpt":{"rendered":"
Porto Alegre, September 14, 2020 – The USDA\u2019s September report must not bring additional news. However, the storm that occurred in Iowa in August brought some expectations of cuts due to the losses of local crops. In this report, USDA updated its production forecast, cut demand, and increased exports due to increased purchases from […]<\/p>\n","protected":false},"author":5,"featured_media":9097,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[95],"tags":[],"commodity":[],"class_list":["post-19140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights-en"],"acf":[],"yoast_head":"\n