Grain Marketing Specialist
USDA WASDE REPORT OUT TODAY AT 11 A.M. GET YOUR TARGETS IN AND WORKING!!
Corn Down 2 as of 7:45
December corn finished the day Tuesday up 8 cents, helped by a strong bean market. The average trade guess for todays USDA WASDE report is for a 173.2 bushel per acre yield, with a 2.3 billion bushel carryout, previously yield was at 173.4 bushels per acre and carryout was pegged at 2.32 billion bushels. Crop Consultant Dr. Cordonnier recently increased his Brazilian corn production estimate from 83 million metric ton to 86 million metric ton.
Beans Unchanged as of 7:45
January soybeans closed 12 3/4 cents higher Tuesday after January palm oil posted a new contract high overnight Monday. The average estimate for today’s USDA November WASDE report is for a 52 bushel per acre yield, with a .420 billion bushel carryout. The USDA previously pegged the soybean yield at 51.4 bushel per acre and the carryout at .395 billion bushels.
Wheat Minneapolis Down 3 Kansas City Down 5 as of 7:45
December Minneapolis Spring Wheat and Kansas City Winter Wheat both closed the day yesterday up 7 ½ cents with spillover support from corn and beans. The average estimate for today’s WASDE report is for a 1.14 billion bushel carryout and with a world ending stocks number of 247.85 million metric ton. The USDA previously pegged the carryout at 1.138 billion bushels and the world ending stocks at 248.37 million metric ton.