USDA WASDE Report Released

Winter Bales

Today, the USDA released their latest WASDE report.

Prior to the report, industry participants estimated these numbers for U.S. production and ending stocks:

U.S. CORN:USDA AVERAGE ESTIMATE OCT ‘19
Production 13.64313.779 Billion Bu.
Yield 167.5 168.4 Bu./Acre
Ending Stocks1.817 1.929 Billion Bu.
U.S. SOYBEANS:USDA AVERAGE ESTIMATE OCT ‘19
Production3.51 3.55 Billion Bu.
Yield 46.6 46.9 Bu./Acre
Ending Stocks 428 460 Million Bu.

The actual numbers from the USDA are:

U.S. CORN:ACTUAL per USDA  Change
Production 13.661 -0.118 Billion Bu.
Yield 167 -1.4Bu./Acre
Ending Stocks 1.91 -0.019 Billion Bu.
U.S. SOYBEANS:ACTUAL per USDA  Change
Production3.55 +0Billion Bu.
Yield 46.9 +0Bu./Acre
Ending Stocks 475+15Million Bu.

As of 11:30 A.M., Corn is up about 5 and Beans are down 3 to 5