WASDE: Corn, soybean yields, & production lower

USDA estimates 2019/20 U.S. corn harvested acreage at 82.0 million acres, unchanged from the August WASDE report. The corn yield estimate is 168.2 bushels per acre (bpa), down 1.3 bpa from August. Accordingly, corn production is forecast at 13.799 billion bushels, down 102 million [...]

Smaller corn, soybean crop forecasts expected

USDA will publish the next WASDE on Sep. 12, and this year’s report is eagerly anticipated as it will reflect USDA’s first in-field evaluation of the 2019/20 corn and soybean crops. Ahead of publication, the industry is expecting USDA to confirm widespread belief in [...]

USDA projects 2 percent growth in soybean crush

In the August WASDE report, USDA forecast 2019/20 soybean crush at 2.115 billion bushels, up 50 million bushels from this season’s volume. With crush nearly complete for the 2018/19 marketing year, USDA is estimating total crush at around 2.07 billion bushels, about 1 percent [...]

Wheat futures market inverts post-WASDE release

On Thursday, Jul. 11, Jul-19 wheat futures rose 4.8 percent to a six-week high of $5.36 following the June WASDE release. This price is higher than both the Sep-19 and Dec-19 futures contracts, at $5.21 and $5.32, respectively. Jul-19 contract prices rose in reaction [...]

WASDE: New crop corn acreage & production forecasts increased

USDA forecasts U.S. corn acreage to increase to 83.6 million, up 1.2 million acres from the June WASDE report and the same figure reported on the June 28 Acreage report. The corn crop yield remained at 166.0 bushels per acre, 10.4 bpa less than [...]

USDA estimates corn acreage up, soybean down

The USDA Acreage report surprisingly estimates planted corn acreage at 91.7 million acres, a few million acres above pre-report estimates and slightly higher than the June WASDE forecast. On the other hand, soybean planted acreage is estimated at an even 80 million acres, a [...]

Lower 2018/19 soybean exports raise ending stocks

Today’s S&D update was quieter for soybeans than corn, with the only change being a 75 million bushel reduction in 2018/19 ending stocks. This one change pushed estimated 2018/19 ending stocks past 1.0 billion bushels and carried projected 2019/20 ending stocks near a similar [...]