Good morning,
Markets are mixed to start the day with corn up 4, soybeans unchanged and wheat down 4.
At 11:00am today the USDA will release their December WASDE report. Estimates for today’s report are listed below. Historically this is a quiet report for the markets as very few if any changes are made. There will be no adjustments to the production side of the equation, just demand updates. Most are looking for a slight reduction in export demand with the USDA giving a bigger more accurate update in January.
2022/23 US Carryout (billion bushels)
| December 9th | November | Average Est. | |
| Corn | 1.257 | 1.182 | 1.237 |
| Soybeans | .220 | .220 | .238 |
| Wheat | .571 | .571 | .576 |
2022/23 World Carryout (million tonnes)
| December 9th | November | Average Est. | |
| Corn | 298.40 | 300.76 | 300.86 |
| Soybeans | 102.71 | 102.17 | 102.23 |
| Wheat | 267.33 | 267.82 | 267.42 |
Look for the markets to remain flat to slightly lower following todays report, especially if we get a reduction in export numbers. I would advise producers to be locking in prices and getting firm offers in place for the bushels you have stored in bins.
Have a Safe Day!
Garry Gard
920-348-6844
