Little excitement in Oct. 11 USDA numbers

By Doug Tenney, Leist Mercantile

Report highlights:. Corn exports up 25 million bushels. Brazil and Argentina corn and soybean production unchanged.

Trade expectations: U.S. soybean ending stocks to increase due to lower exports. Slightly higher U.S. corn yield, slightly lower U.S. soybean yield.    

The U.S. corn yield was 183.8, the average trade estimate was 183.4, last month USDA was 183.6. The U.S. soybean yield was 53.1, the average trade estimate was 53.1, last month USDA was 53.2.

Following the noon USDA report release, corn up 1 cent, soybeans up 2 cents, and wheat down 2 cents. Just before the report was released, corn up 1 cent, soybeans up 5 cents, and wheat down 3 cents.

US 2024/25 ending stocks: corn 1.999 billion bushels, last month 2.057 billion bushels; soybeans  550 million bushels, last month 550 million bushels; and wheat 812 million bushels, last month 828 million bushels.  

Trader estimates for 2024/25 ending stocks were: corn 2.057 billion bushels, soybeans 549 million bushels, and wheat 819 million bushels.… Continue reading