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