WASDE: More Pressure on Crop Receipts

“The October WASDE report indicates increased production for corn, wheat and soybeans, along with a reduced pricing outlook for corn. USDA estimates imply 2014-15 cash crop receipts will now decline 16.6% year-over-year, moving lower compared to the September estimate, and continues to support our negative outlook on ag machinery demand,” C. Schon Williams, analyst for BB&T Capital Markets, said in an October 10 note to investors.

With the October World Agricultural Supply and Demand Estimates…

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