January 12, 2021
Good Morning,
REPORT DAY!
Corn is unchanged this morning while soybeans and wheat are up 7 and 8 respectively.
Funds are estimated to be long 327,000 corn and 172,000 soybean contracts after yesterdays close.
The USDA report will rule the markets today and volatility could be extreme. Estimates for todays report are listed below. Check back after 11am for the finals.
USDA 2020 Harvested Acres (mln acres)
| USDA Jan 2021 | Average Est. | USDA Nov. 2020 | |
| Corn | 82.5 | 82.543 | 82.527 |
| Soybeans | 82.3 | 82.305 | 85.289 |
USDA 2020 Yield (Bushel per acre)
| USDA Jan 2021 | Average Est. | USDA Nov. 2020 | |
| Corn | 172.0 | 175.3 | 175.8 |
| Soybeans | 50.2 | 50.5 | 50.7 |
USDA 2020 Production (Billion Bushels)
| USDA Jan 2021 | Average Est. | USDA Nov. 2020 | |
| Corn | 14.182 | 14.470 | 14.507 |
| Soybeans | 4.135 | 4.158 | 4.170 |
USDA 2020/21 US Carryout (Billion Bushels)
| USDA Jan 2021 | Average Est. | USDA Nov. 2020 | |
| Corn | 1.552 | 1.599 | 1.702 |
| Soybeans | .140 | .139 | .175 |
| Wheat | .836 | .859 | .862 |
Have a Safe Day!
Garry Gard
920-348-6844
