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USDA Grain Reports Flash | KRVN Radio

USDA Grain Reports Flash

USDA Grain Reports Flash

OMAHA — USDA estimates this year’s national average corn yield will be 166 bpa, unchanged from last month. Its average soybean yield forecast is 48.5 bpa, 1 bushel lower than last month.

Overall production numbers — at 13.88 billion bushels for corn and 3.85 billion bushels for soybeans — are based on the June 28 Acreage report, which said farmers planted 91.7 million acres to corn and 80 million acres to soybeans. Those figures come with asterisks given the large amount of unplanted acres at the time. USDA is resurveying farmers, and it will incorporate that updated data into its next WASDE report on August 12.

The corn production estimate was toward the high end of pre-report expectations, while the soybean estimate was close to the average trader guess.

USDA estimates corn ending stocks for the 2019-20 marketing year at 2.01 billion bushels, 335 mb higher than last month. Soybean ending stocks, at 795 million bushels, are 250 mb lower than last month.

Thursday’s new U.S. ending stocks estimates were bearish for corn, neutral for soybeans and bullish for wheat, said DTN Lead Analyst Todd Hultman. Thursday’s 2019-20 world ending stocks estimates from USDA were bearish for corn and bullish for soybeans and wheat, he said.

You can also access the full reports here:

— Crop Production: https://www.nass.usda.gov/…

— World Agricultural Supply and Demand Estimates (WASDE): http://www.usda.gov/…

U.S. PRODUCTION (Million Bushels) 2019-20
Jul Avg High Low Jun 2018-19
Corn 14,609 13,511 13,880 12,566 13,680 14,420
Soybeans 4,412 3,850 4,015 3,700 4,150 4,554
U.S. AVERAGE YIELD (Bushels Per Acre) 2019-20 (WASDE)
Jul Avg High Low Jun 2018-19
Corn 166.0 164.9 167.0 162.0 166.0 176.4
Soybeans 48.5 48.4 50.0 47.0 49.5 51.6
U.S. ENDING STOCKS (Million Bushels) 2018-2019
Jul Avg High Low Jun
Corn 2,140 2,179 2,385 1,615 2,195
Soybeans 438 1,038 1,100 935 1,070
Wheat 1,099 1,076 1,102 1,055 1,102
U.S. ENDING STOCKS (Million Bushels) 2019-20
Jul Average High Low Jun Outlook
Corn 2,010 1,642 1,942 1,235 1,675 1,650
Soybeans 795 812 1,111 558 1,045 845
Wheat 1,000 1,028 1,092 925 1,072 944
WORLD ENDING STOCKS (Million metric tons) 2018-2019
Jul Avg High Low Jun
Corn 339.3 325.0 329.6 320.0 325.4
Soybeans 99.1 112.6 115.5 111.6 112.8
Wheat 281.1 276.1 278.0 273.0 276.6
WORLD ENDING STOCKS (million metric tons) 2019-20
Jul Avg. High Low Jun
Corn 298.9 290.2 294.5 282.4 290.5
Soybeans 104.5 110.7 124.1 103.0 112.7
Wheat 286.5 290.8 295.0 279.9 294.3
WORLD PRODUCTION (million metric tons) 2018-19
Jul Avg High Low Jun
CORN
Argentina 50.0 49.2 50.0 48.8 49.0
Brazil 101.0 100.9 102.0 99.7 101.0
SOYBEANS
Argentina 53.0 56.1 57.0 55.8 56.0
Brazil 123.0 117.0 118.0 116.0 117.0
U.S. WHEAT PRODUCTION (million bushels) 2019-20
Jul Avg. High Low Jun 2018-19
All Wheat 1,921 1,905 1,995 1,700 1,903 1,884
All Winter 1,184 1,278 1,314 1,231 1,274 1,184
HRW 804 804 835 783 794 662
SRW 259 254 262 240 258 286
White 227 224 234 220 222 236
Other Spring 572 581 625 550 N/A 623
Durum 58 60 80 44 N/A 77
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