The WASDE report released today by USDA-WAOB reflected the increased corn and soybean production in the USDA Crop Production report also released today.  Corn yield was raised 2 bushels/acre from the trend adjusted July estimate.  Soybean yield was raised 0.9 bushels/acre.  Soybean planted acreage was reduced 800,000 acres based on the resurvey of certain states during the month of July.

Corn supply-demand for 2014/15 was adjusted slightly resulting in lower ending stocks by 7 million bushels.  2015/16 corn supply-demand reflected a 156 million bushel increased in production.  Feed and residual was raised 25 million bushels and Food, Seed, and Industrial was raised 40 million bushels including a 25 million bushel increase to ethanol production.  Exports were lowered 25 million bushels.  Ending stocks increased 114 million bushels and average farm price was lowered $0.10 to $3.65 per bushel.

Soybean 2014/15 crush was increased 15 million bushels lowering ending stocks by the same amount to 240 million bushels.  2015/16 soybean production was increased 31 million bushels.  Crush was increased 20 million bushels while exports were lowered 50 million bushels.  Ending stocks were increased 45 million bushels to 470 million bushels.  Average farm price was lowered $0.10 to $9.15 per bushel.

Bill Holbrook

The ProExporter Network

20809 NE 170th Street

Kearney, MO 64060

Telephone: 816-863-5335