USDA Report Summary February 8, 2019

Landus Flag On Equipment 2016

Very neutral report today – markets are quiet after the release. Right after the report, March corn was up a nickel, December corn was +3 1/2, while March and November soybeans were steady to slightly higher. 20 minutes after the report shows corn unchanged to up a penny and beans a couple higher. Production for both corn and beans for the U.S. were reduced, however the ending stocks were increased. Most values were within trade estimates—really no crazy numbers here. For our soybean market the U.S. ending stocks is the most important number on this report…confirming we have many beans to get rid of and desperately need China for demand. See below a complete recap

 

CORN:

Dec 1 Stocks                       12.0 billion vs. the avg. trade average of 12.092

18/19 Yield                         176.4 bu./Acre vs. Sept estimate of 178.9

18/19 Production             14.42 billion vs. Sept estimate of 14.626

18/19 Ending stocks        1.735 billion vs. 1.781 in September and 1.708 average trade estimate

 

SOYBEANS:

Dec 1 Stocks                       3.736 billion vs. avg. trade estimate of 3.743

18/19 Yield                         51.6 bu./Acre vs. Sept estimate of 52.1

18/19 Production             4.544 billion vs. Sept estimate of 4.600

18/19 Ending stocks        910 million vs. 955 in September and 926 avg. trade estimate

 

Looks like we can now move on and start anticipating the March 29th perspective planting and grain stocks reports.