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USDA Reports

The June 2019 WASDE Report was released June 10, 2019 

Corn
The report revealed that for corn old crop (2018/19) carryout, the USDA recorded 2.195 billion bushels of corn stocks in the U.S.   That compared to trade expectations of 2.123 billion bushels. 

For 2019/20 yields, the report estimated corn yield would be 166 bushels per acre.  This compares to trade expectations of 172.4 bushels per acre.

For 2019/20 production, the report estimates that total corn production will be 13.68 billion bushels.  This compares to trade expectations of 14.251 billion bushels. 

For corn new crop (2019/20) carryout, the USDA estimated 1.675 billion bushels of corn stocks in the U.S.  That compared to trade estimates of 1.917 billion bushels. 

Soybeans
The report revealed that for soybean old crop (2018/19) carryout, the USDA recorded 1.07 billion bushels of soybean stocks in the U.S.  That compares to trade expectations of 1.00 billion bushels.

For 2019/20 yields, the report estimated soybean yield would be 49.5 bushels per acre.  This compares to trade expectations of 49.0 bushels per acre.

For 2019/20 production, the report estimates that total soybean production will be 4.15 billion bushels.  This compares to trade expectations of 4.12 billion bushels. 

For soybean new crop (2019/20) carryout, the USDA estimated 1.045 billion bushels of soybean stocks in the U.S.  That compared to trade estimations of 0.983 billion bushels. 

Wheat
The report revealed that for wheat old crop (2018/19) carryout, the USDA recorded 1.10 billion bushels of wheat stocks in the U.S.  That compares to trade expectations of 1.121 billion bushels.

For 2019/20 yields, the report estimated wheat yield would be 48.7 bushels per acre.  There was not a published trade estimate of this number before the report.

For 2019/20 production, the report estimates that total wheat production will be 1.90 3billion bushels.  This compares to trade expectations of 1.883 billion bushels. 

For wheat new crop (2019/20) carryout, the USDA estimates 1.072 billion bushels of soybean stocks in the U.S.  That compared to trade estimates of 1.118 billion bushels. 
 
The Crop Progress Report was released on July 8.

Corn
For corn, this report showed that 98% (up from 94% last week) of the corn was emerged by July 7, 2019.  This compared to the 5 year average of 100%.
The report showed that 8% of corn is at silking stage by July 7, 2019.  This compares to the 5 year average of 22% and 34% as of July 7, 2018.

The report also showed that 57% (up from 56% last week) of the corn is rated Good to Excellent to July 7, 2019.  This compares to 75% rated Good to Excellent in 2018.

Soybeans
For soybeans, this report showed that 96% (up from 92% last week) of the soybeans was planted by to July 7, 2019.  This compared to the 5 year average of 99%.

The report showed that 90% (up from 83% last week) of soybeans are emerged by July 7, 2019.  This compares to the 5 year average of 98% and 100% as of July 7, 2018.

The report showed 10% of soybeans were blooming by July 7, 2019.  This compares to the 5 year average of 32% and 44% as of July 7, 2018.

The report also showed that 53% (down from 54% last week) of the soybeans is rated Good to Excellent to July 7, 2019.  This compares to 71% rated Good to Excellent in 2018.

Wheat
For wheat, this report showed that 47% (up from 30% last week) of the wheat is harvested by July 7, 2019.  This compared to the 5 year average of 61% and 61% as of July 7, 2018.

For wheat, this report showed that 64% (up from 63% last week) of the wheat is rated Good to Excellent to July 7, 2019.  This compares to 37% rated Good to Excellent in 2018.


The Stocks and Acreage Report was released on June 28, 2019.  
 
Corn
For Corn, the report indicated that 91.7 million acres of corn to be planted (however, 15.5 million acres are not yet planted at the time of the survey).  The trade average estimate entering the report was 86.6 million acres.

Soybeans
For Soybeans, the report indicated that 80 million acres of soybeans are planted.  The trade average estimate entering the report was 84.4 million acres.

Wheat
For Wheat, the report indicated that 45.6 million acres of wheat is planted.  The trade average estimate entering the report was 45.7 million acres.