From Farm Futures Magazine and Arlan :
USDA Fails to Refocus Trader
Bearish outside markets over-shadow friendly corn and soybean adjustments. Arlan Suderman, Farm Futures market analyst
USDA's monthly crop report this morning contained a few surprises to refocus the trade. Those surprises were supportive for corn and soybeans and bearish for wheat. However, a general stagnation in the outside markets following a very energetic day yesterday overwhelmed those friendly adjustments to the balance sheets.
One of the noted adjustments in this morning's USDA report was a reduction in global demand for corn, soybeans and wheat, blamed on the global economic recession.
