Grains were mostly lower following the August WASDE but have since turned mixed with soybeans seeing double digit losses, corn is slightly higher and wheat is mixed.
Brian Splitt, AgMarket.Net says soybeans may have more down side as they were the bearish report leader.
USDA increased yield to a record 53.2 bushels per acres, production to 4.6 billion bushels, harvested acres were up nearly 1 million, so the result was ending stocks were up 125 million bushels.
World soybean ending stocks were also raised by 6.5 million tons.
Corn yield was also raised to a record 183.1 bpa but was offset by 700,000 less harvested acres.
So, production was up only 47 million bushels and with an increase in old crop and new crop usage ending stocks fell 24 million bushels.
Wheat saw a higher yield but with 900,000 less harvest acres production fell 26 million bushels and ending stocks were down 28 million bushels.
What does all this mean for price?
