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#SaxoStrats
Today's edition of the Saxo Morning Call features the SaxoStrats team discussing the continuing weakness of the US dollar as commodity prices recover ground and in the wake of key US equity indices hitting all-time highs Thursday.
Squawk / 09 November 2017 at 14:06 GMT
Head of Commodity Strategy / Saxo Bank
Denmark
The US Department of Agriculture will release its monthly supply and demand estimates (WASDE) today at 1700 GMT. Is expected to show a bigger US corn yield leading to biggest stock since 1988. Soybeans yield and production probably declined while a global rush to unload wheat could trigger a reduction in world stocks.
Attached WASDE expectations as well as the latest speculative fund positions from the week to October 31.
1y
Ole Hansen Ole Hansen
Bearish WASDE report with Dec Corn hitting a fresh contract low as stocks surge to a 30-year high. Soybeans also traded sharply lower while wheat recovered to finish close to unchanged. Cotton initially dropped on a record high US yield but managed to stabilise on a cut to global stocks.
Related articles from Agrimoney:
https://www.agrimoney.com/news/corn-futures-dive-to-contract-low-after-us-ups-yield-estimate-to-record-high-42082
https://www.agrimoney.com/news/world-stocks-cut-steadies-cotton-market-after-us-yield-upgraded-to-record-high-42083

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