At 11 AM, the USDA released its latest World Ag Supply and Demand Estimates (WASDE) report.
For corn, the 18/19 Ending Stocks are pegged at 2.195 billion. Yield for 19/20 is estimated at 166 with Ending Stocks of 1.675 Billion.
For soybeans, 18/19 Ending Stocks are estimated at 1.070 Billion. Yield for 19/20 is estimated at 49.5 with Ending Stocks at 1.045 Billion.
World Ending Stocks for 19/20 are lower than last month’s estimate. Corn is now estimated to be 294 Million Metric Tons (MMT), down from almost 315 MMT.
Soybean Ending Stocks are pegged at 112.66 MMT vs. 113.09 MMT last month.
As of about 11:15, corn is up 8 to 10 and beans are up 2 to 3.