Report Reactions
Sept. 1 corn stocks came in 135 million bu. below the average pre-report trade estimate. The wheat production estimate was 128 million bu. lower than traders anticipated.
USDA cut its soybean crop estimate by 153 bu. from last month, whereas traders expected a 35-million-bu. reduction.
The initial corn crop estimate came in slightly lower than anticipated.
USDA makes unexpected boost to U.S. soybean crop estimate, lowers corn crop more than expected.
USDA’s corn, soybean and wheat ending stocks forecasts topped pre-report expectations, as did the U.S. all-wheat crop estimate.
USDA Report Reaction - Soybean plantings estimate sharply below expectations at 88.325 million acres
Estimated corn plantings raised more than expected to 89.92 million ac., all wheat acres also above expectations.
Corn acres slightly higher than trade expectations.
Pigs kept for breeding down slightly less than analysts expected.
June 1 inventories up 1.2% from year-earlier, lower than projected.
U.S. soybean stockpiles seen lower than expected at end of 2022-23.