Good morning,

 

Markets are mixed to start the day with corn down 4 and soybeans up 12.

 

Some rain moved through Iowa and Northern Illinois with coverage of up to an inch in areas.  The storms were swift as they moved through, not allowing a lot of time for accumulation.  Most of the storm activity is up in the Dakotas where it’s raining in the western half of both states. There are storms moving across IA and southern WI this morning and should hit our area by midday.

 

The USDA will release their July production numbers at 11am today. Below are the estimates for today’s report.

 

USDA 2022/23 Carryout (billion bu)

USDA July 2023 Average Est. USDA June 2023
Corn 1.402 1.420 1.452
Soybeans .255 .232 .230

 

USDA 2023 Yield (bushels/acre)

USDA July 2023 Average Est. USDA June 2023
Corn 177.50 176.6 181.5
Soybeans 52.0 51.4 52.0

 

USDA 2023 Production (billion bu)

USDA July 2023 Average Est. USDA June 2023
Corn 15.320 15.234 15.265
Soybeans 4.30 4.253 4.510

 

USDA 2023/24 US Carryout (billion bu)

USDA July 2023 Average Est. USDA June 2023
Corn 2.262 2.260 2.257
Soybeans .300 .199 .350
Wheat .592 .569 .562

 

 

 

Have a Safe Day!

 

Garry Gard

920-348-6844

ggard@didioninc.com