Good morning,

 

Markets are lower to start the day with corn down 5 and soybeans down 5.

 

Traders will be focused on the WASDE that will be out at 11am today. Traders are looking for a reduction in corn yield and a little change in soybeans. This is probably what we get, so I expect the report will be uneventful. Below are the estimates for today’s report.

 

2022/23 Harvested Acreage (million acres)

USDA Sept Average Est. USDA Aug
Corn 80.80 81.686 81.840
Soybeans 86.6 87.288 87.211

 

2022/23 Yield

USDA Sept Average Est. USDA Aug
Corn 172.5 172.5 175.4
Soybeans 50.5 51.5 51.9

 

2022/23 Production

USDA Sept Average Est. USDA Aug
Corn 13.944 14.088 14.359
Soybeans 4.378 4.496 4.531

 

2021/22 Carryout (Billion Bu)

USDA Sept Average Est. USDA Aug
Corn 1.525 1.547 1.530
Soybeans .240 .236 .225

 

2022/23 Carryout

USDA Sept Average Est. USDA Aug
Corn 1.219 1.217 1.388
Soybeans .200 .246.7 .245

 

 

Have a safe day!

 

Garry Gard

920-348-6844

ggard@didioninc.com