Bearish corn numbers Sept 12, neutral for beans

By Doug Tenney, Leist Mercantile

Report highlights: U.S. soybean demand had exports and crush unchanged from last month. Corn exports and ethanol unchanged.

Trade expectations: Higher U.S. corn exports, lower U.S. soybean exports.   

The US corn yield was 183.6, the average trade estimate was 182.4, last month USDA was 183.1 . The U.S. soybean yield was 53.2, the average trade estimate was 53.2, last month USDA was 53.2

Just before the report was released, corn up 1 cent, soybeans up 8 cents, and wheat up 5 cents.

US 2024/25 ending stocks: corn 2.057 billion bushels, last month 2.073 billion bushels; soybeans  560 million bushels, last month 560 million bushels; and wheat  million bushels, last month 828 million bushels.  

Trader estimates for 2024/25 ending stocks were: corn 2.007 billion bushels, soybeans 565 million bushels, and wheat 823 million bushels.

USDA this month estimates Brazil soybean production at 153 million tons, last month was 153 million tons.… Continue reading