Below you will find all of the charts and data from today’s reports. Check back for further analysis of the numbers.
Analysis and News
With most traders looking for corn yields in the 158-159 area, USDA surprised the trade by slashing them to 155.8.
With corn locked limit up, likely for the day, there’s nothing a farmer can do.
Wow... USDA slashed the national average corn yield to 155.8 bu. per acre.
USDA’s production-related numbers were little changed in today’s report but by the time to you to the bottom line—ending stocks, small changes in supply and usage trimmed 50 million bushels out of the equation.
USDA provided a smaller surprise in the soybean market by lowering yield a touch from 44.7 to 44.2 bu./acre.
On the heels of a warm growing season, U.S. soybean production is forecast at a record-high level.
By Howard Tylass, Soybean, Corn, and Cattle Daily Numbers & Trade Ideas blog
By Joe Vaclavik & Doug Bergman, Advantage Grain blog
World Agriculture Supply and Demand Estimates
Klemme: rumors of new crop in Sept. stocks are likely unfounded.
It will be interesting to see which crop wins the battle for acres in 2011.
The October Crop Production report is probably the most important of the year, says Dan Basse of AgResource in Chicago.
Independent trader Thomas Grisafi says there are too many questions on corn yield ahead of Friday's USDA report.