Aug USDA Supply & Demand

posted on


The USDA pegged U.S. corn planted acres at 90.0 million acres up 2.0 million compared to the average trade estimate. The nation’s corn yield was also bigger than expected at 169.5 bushels per acre up 4.6 bushels per acre from the average yield estimate. Corn production came in at 13.901 billion bushels compared to the 13.193 billion average estimate.

The bean acreage came in at 76.7 million acres, well below the 81 million expected by traders. The bean yield was a bit larger at 48.5 bushels per acre, 0.9 bushels more than the average estimate. Bean production was 3.680 billion bushels compared to the average estimate of 3.883 billion.

The acreage numbers are still subject to change because the FSA announcement on acres enrolled in U.S. crop subsidy programs are much smaller.

Yields for both corn and beans are dependent on “normal” weather through the rest of the season. It has been anything but normal so far this growing season, so that would be a new development that may or may not occur. We are still in a weather market needing more rain in many areas.

Users should be buying this dip in corn.

Categories: | Tags: | View Count: (10845) | Return
Click Here to Sign Up for a Free 30 Day Trial
Click Here to start your subscription today
Give Us A Call

These data and comments are provided for information purposes only and are not intended to be used for specific trading strategies. This commentary is written as a daily marketing tool to help farmers sell the grain they raise. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. Past performance and testimonials are not necessarily indicative of future results. Commodity trading involves the risk of loss, and you should fully understand those risks before trading.