Good morning,
WASDE report out at 11am today. This will be the last update we have on the 2024 production until the final report is released in January. Expectations are listed below.
USDA 2024/25 US Carryout (Billion Bushels)
| USDA November | Average Est. | USDA October | |
| Corn | 1.938 | 1.946 | 1.999 |
| Soybeans | .470 | .532 | .550 |
| Wheat | .815 | .813 | .812 |
USDA 2024 US Production (Billion Bushels)
| USDA November | Average Est. | USDA October | |
| Corn | 15.143 | 15.189 | 15.203 |
| Soybeans | 4.461 | 4.557 | 4.582 |
USDA 2024 US Yield (Bushels per acre)
| USDA November | Average Est. | USDA October | |
| Corn | 183.1 | 183.7 | 183.8 |
| Soybeans | 51.7 | 52.8 | 53.1 |
Expectations are for a slight drop in yield, but I am thinking we may see an increase. Locally and outside of the state I have been hearing a lot of very good numbers. Yes, there were wet spots in field and some “0 bushel” areas, but the good ground was really good. Reports across the Midwest of emergency ground piles are very common. Exports have been good, and domestic demand has been good, but we will need a lot more of that over the next 9 months to move corn prices higher. With the expectation for Trump to put new tariffs in place when he is in office, it will be difficult to keep exports high. Following today’s report we will not have an update on production until the final is released in January.
Have a Safe Day!
Garry Gard
920-348-6844
