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Export pace could lead to adjustments in USDA corn and soybean outlook

A market analyst says there could still be movement in U.S. corn and soybean export projections.

Jeff Peterson with Heartland Farm Partners says USDA’s latest supply and demand report left the numbers unchanged, but there might some changes.  “I think U.S. corn exports, just to give an idea, total commitments right now if we take into account of the total bushels that have not been shipped yet, that’s up about 31.1 percent. USDA is still expecting us to be up 15.5 percent.”

He tells Brownfield commitments for soybean purchases are down 18 percent. “Compared to last year at this time, USDA says we were down about 16.3 percent. We’re moving our way towards that area. That’s without China picking up much of the 8 million metric tons that’s been talked about.”

Peterson says several factors could still influence export demand, including crop production in South America, the value of the U.S. dollar and shipments to key trading partners.

Jeff Peterson: