USDA Surprises Analysts in November WASDE Report

November 9, 2016 11:37 AM
 
USDA Grain Unloader

Just like the U.S. presidential election, Wednesday’s USDA crop production estimates outdid analysts’ projections with record estimates for corn and soybean production.

Here are the key numbers from Wednesday’s World Agricultural Supply and Demand Estimates report.

 

Corn

Corn yield of 175.3 bu. per acre, which is more than the average trade guess of 173.2 bu. per acre, according to Reuters.

Corn production of 15.226 billion bushels, which is greater than the average trade guess of 15.041 billion bushels.

New corn ending stocks of 2.403 billion bushels, which is more than the average trade guess of 2.300 billion bushels.

 

Soybeans

Soybean yield of 52.5 bu. per acre, which is above the average trade guess of 52.0 bu. per acre.

Soybean production of 4.361 billion bushels, which is more than the average trade guess of 4.314 billion bushels.

New soybean ending stocks of 480 million bushels, which is greater than the average trade guess of 420 million bushels.

 

Wheat

Wheat yield of 52.6 bu. per acre, and wheat production of 2.32 billion bushels. These totals will not be revised this month.

New wheat ending stocks of 1.43 billion bushels, which is more than the trade guess of 1.41 billion bushels.

The report raised corn use by 85 million bushels to 14.610 billion bushels. Feed and residual use was unchanged at 5.650 billion bushels. Corn exports also were unchanged at 2.225 billion bushels.

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Comments

 
Spell Check

Corruption
Small Town, IN
11/9/2016 12:29 PM
 

  Oh look, surprise again! The USDA posting some more BS numbers before Trump gets in there to eliminate the political insider trading corruption that's going on. So tired of this crap from them...GO TRUMP!

 
 
DAWG
Lakeville, IN
11/10/2016 03:01 PM
 

  Maybe, Mr. Trump can make that insitiution great again too !!

 
 

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