Market News

November WASDE Bullish

By Doug Tenny, Leist Mercantile

USDA today projected the US corn production at14.507 billion bushels and the US corn yield at 175.8 bushels per acre. Last month US corn production was 14.722 billion bushels and the yield was 178.4 bushels per acres. This month the US soybean production was 4.170 billion bushels and the US soybean yield was 50.7 bushels. Last month the US soybean production was 4.268 billion bushels and the US soybean yield was 51.9 bushels per acre.

Corn ending stocks were 1.702 billion bushels, down 331 million bushels. Soybean ending stocks were 190 million bushels, a decline of 100 million bushels. Corn exports up 325 million bushels with soybean exports unchanged. China corn imports up 6 million tons to 13 million tons.

Shortly after the report was released, corn was up 11 cents, soybeans up 27 cents, and wheat up 10 cents. Just before the report release, corn was up 4 cents, soybeans up 13 cents, and wheat up 8 cents. … Continue reading

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