Tagged: spillover

The News and What it Means – Surprising South American Corn Forecast & Implications of Crude Price Drop

 

By John DePutter and Dave Milne – March 13, 2017

 

The News

USDA raises its forecast for 2016-17 Brazilian corn output by 5 million tonnes from last month, to a whopping 91.5 million. Argentina’s crop is revised up 1 million from last month to 37.5 million tonnes. That’s a new record high for the two countries, up 34.3% from a year earlier.

   —USDA monthly global crop update, released Thursday.