USDA REPORT NUMBERS

Written By Sebastian Frost

Nov. 9th 2022

Overall, was a fairly uneventful report. With yields higher, but slightly higher yields weren’t totally unexpected. The report was pretty neutral to the slightly negative side. The USDA didn’t recognize the problems in Agentina soybeans. Markets lower here after the report, can hopefully look for a bounce in the coming days. FYI, we also saw a major advisor place buy recommendations for corn feed needs today.

Corn

  • Raised production to 13,930

  • Raised yield to 172.3

  • Left corn exports unchanged

  • U.S. ending stocks slightly lower than est. 1,182 vs 1,207

  • No changes made to South America estimates

  • World ending stocks close to est. slightly higher at 300.76 vs 300.63


Soybeans

  • Raised production to 4,346

  • Raised yield to 50.2

  • Exports left unchanged

  • U.S. ending stocks slightly higher than est. 220 vs 212

  • World ending stocks higher than est. 102.17 vs 100.61

  • Decrease made to Argentina production (49.5 mt vs 51 mt in Oct.), Brazil unchanged from Oct.


Wheat

  • U.S. ending stocks slightly lower than est. 571 vs 578

  • World ending stocks higher than est. 267.82 vs 266.52

Sebastian Frost
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