The September WASDE report, along with the September Crop Production report, reflect minor changes to yield estimates.  2014/15 corn ending stocks were reduced 40 million bushels to 1.732 billion bushels based on larger food, seed, and industrial use of 15 million bushels and larger exports of 40 million bushels.  Average farm price was estimated at $3.68 per bushel.  2015/16 corn production was reduced 101 million bushels based on a lower corn yield of 167.5 bushels per acre.  Feed use was lowered 25 million bushels and food, seed, and industrial use was raised 5 million bushels.  Ethanol use was unchanged.  Ending stocks were lowered 121 million bushels to 1.592 billion bushels.  Average farm price was raised $0.10 to $3.75 per bushel.

2014/15 soybean ending stock were reduced 30 million bushels based mostly on 25 million bushels more crush and 10 million bushels more exports.  Ending stocks are now 210 million bushels.  2015/16 soybean production was raised 19 million bushels to 3.935 billion bushels based on a yield of 47.1 bushels per acre.  Crush was raised 10 million bushels lowering ending stocks to 450 million bushels.  Average farm price was unchanged at $9.15 per bushel.

Bill Holbrook

The ProExporter Network

20809 NE 170th Street

Kearney, MO 64060

Telephone: 816-863-5335