Good morning,
Markets are weak to start the day with corn down 10 and soybeans down 3 after the traders 3 day weekend.
We have a USDA report out on Thursday this week where the USDA is expected to increase production even if they don’t adjust yield. Traders are expecting the USDA to increase planted acres to get closer to the FSA’s numbers that were released after the USDA’s June report. We could see upwards of 1.0 million acres more in Thursday’s report. Below are the estimates for Thursday:
USDA 2020/21 US Carryout(billion bu)
| USDA Sept. | Ave. Est. | USDA Aug. | |
| Corn | 1.169 | 1.117 | |
| Soybeans | .166 | .160 |
USDA 2021/22 US Carryout(billion bu)
| USDA Sept. | Ave. Est. | USDA Aug. | |
| Corn | 1.382 | 1.242 | |
| Soybeans | .190 | .155 |
USDA 2021/22 US Production(billion bu)
| USDA Sept. | Ave. Est. | USDA Aug. | |
| Corn | 14.847 | 14.750 | |
| Soybeans | 4.353 | 4.339 |
USDA 2021/22 US Yield(Bp/acre)
| USDA Sept. | Ave. Est. | USDA Aug. | |
| Corn | 175.8 | 174.6 | |
| Soybeans | 50.3 | 50.0 |
The US weather is mostly dry over the next 10 days. Crop ratings will show a mature crop with little change in condition ratings from here forward. Temperatures are going to be pretty warm over most all of the Western US. Above normal temps are forecast from California to Texas and up into Canada. The Eastern US will have normal temps.
Have a Safe Day!
Garry Gard
920-348-6844
