Good Morning,

Corn has opened the week down 2 while soybeans are up 5. Most of the focus will be on Wednesdays USDA Crop Production and quarterly stocks report. Estimates are for corn yield and production to drop slightly from the August report. Estimates for beans are for higher yield and production. I would not be surprised to see higher production in both crops given the weather most of the US had in August. There are some trade estimates that 2018/19 soybean ending stocks could reach 1 billion bushels! The lack of exports combined with bigger yields could make this a reality.
Weather maps show most of the Midwest should be warmer and drier for the next 10 days which will result in a ramped up pace of corn harvest in IL, IA, MN. I am expecting producers in WI to start before the end of the month given how fast the crop has changed over the last two weeks.

Below are estimates for Wednesdays report:

USDA 2018/19 US Production (billion bu)
USDA Sept 12 Average Estimate USDA August
Corn Yield 177.8 178.4
Corn Production 14.529 14.586
Soybean Yield 52.2 51.6
Soybean Production 4.649 4.586

USDA 2018/19 Ending Stocks (billion bu)
USDA Sept 12 Average Estimate USDA August
Wheat .941 .935
Corn 1.639 1.684
Soybeans .830 .785

Have a Safe Day!

Garry Gard