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
