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USDA Report


USDA raised its average corn yield forecast to 168.8 bushels per acre from its previous projection of 166.8 bushels.  The average soybean yield increased 46.9 bushels from USDA’s previous of 46 bushels.  No changes seen in corn acres planted/harvested, however there was a reduction in beans planted acres of -800,000 and harvested of -900,000.

Corn ending stocks for 2015-16 came in at 1.7 BB, up 114 million bushels from last month’s estimate.  Soybean ending stocks for 2015-16, at 470 mb, were up 45 mb from last month.  USDA estimated ending stocks for 2014-15 at 240 mb

 

Market reaction was incredibly negative, New crop beans nearly hitting limit down, all in just a few minutes.

 

Currently the markets are (12:12pm)

Dec Corn -21 @ $3.66 ½

Nov Beans -62 ½ @ $9.09

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Greg Mockenhaupt

ProEdge Risk Management Consultant

P: (402) 685-5613 | Greg.Mockenhaupt@cvacoop.com

1007 County Road O

Oakland, NE 68045

www.cvacoop.com

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About katcountryhub
I am a graduate of Northeast Community College with a degree in journalism. I am married to Jeff Gilliland. We have two grown children, Justin and Whitney and four grandchildren, Grayce, Grayhm, Charli and Penelope. I will be covering Lyons, Decatur, Bancroft and Rosalie and am hoping to expand my horizons as time progresses!

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