The USDA's November World Agricultural Supply Demand Estimates report saw an unexpected change.
Dan Basse with Ag Resource Company says the surprise in the report was an increase in yield for US Corn and Soybeans:
"That extra supply ended up coming through in both end-use stocks and U.S. soybean. End-use stocks were up 10 per cent or 20 million bushels to 220 million bushels. The corn was still relatively tight, it was a little under 1.3 billion bushels."
Basse says they believe the larger crop is likely due to the favorable harvest weather for much of September and October.
Basse says it was a surprise to see the yield increases because any increases tend to be carried over to the final report in December.Click here to see more...