Good morning,
Corn is up 2 and soybeans are up 18 to open the day as traders await the 11am crop report. Estimates for today’s report are listed below.
USDA 2022/23 US Carryout (billion bushels)
| USDA April | Average Estimate | USDA March | |
| Corn | 1.342 | 1.319 | 1.342 |
| Soybeans | .210 | .198 | .210 |
| Wheat | .598 | .574 | .568 |
USDA 2022/23 World Carryout (million tonnes)
| USDA April | Average Estimate | USDA March | |
| Corn | 295.35 | 295.01 | 296.46 |
| Soybeans | 100.29 | 98.56 | 100.01 |
| Wheat | 265.05 | 267.06 | 267.20 |
Corn planting progress came in at 3% complete yesterday afternoon, up from 2% last week, last year, and on average. Spring wheat plantings were initially reported at 1% complete, down from 6% last year and 4% on average. Winter wheat heading rose just a point to 7%, still ahead of 5% LY and 4% on average, with ratings of the crop down a point this week to 27% good/ excellent, below 32% last year and the 47% 5YA figure. These are the worst ratings for hard wheat from back to 1996.
Have a safe day!
Garry Gard
920-348-6844
