Source: DTN
OMAHA — USDA on Friday released its January Crop Production, World Agricultural Supply and Demand Estimates (WASDE) Dec. 1 Grain Stocks and Winter Wheat Seedings reports.
USDA pegged final national average corn yield at a record 177.3 bushels per acre (bpa), well above the range of pre-report expectations. Production was pegged at 15.34 billion bushels (bb).
Soybean yields also climbed to a national average of 50.6 bpa. Production clocked in at 4.17 bb.
DTN Lead Analyst Todd Hultman sees Friday’s U.S. ending stocks estimates as bearish for corn and soybeans and neutral for wheat. He sees the world ending stocks estimates as bearish for corn, neutral for soybeans and slightly bearish for wheat. As for the Grain Stocks report, Hultman sees it as bearish for corn and wheat, only slightly bearish for soybeans.
To read the entire report click here.
