Written Commentary
SUPPLY/DEMAND REPORT HIGHLIGHTS
- Report neutral Corn and Soybeans, bearish Wheat
- Most Numbers in line with trade estimates
- USDA estimated US corn yield at 175.1 vs 175.5 expected and 177.5 in July
- USDA estimated US soybean yield at 50.9 vs 51.3 expected and 52.0 in July
- USDA estimated US corn crop at 15,111 vs 15,135 expected and 15,320 in July
- USDA estimated US soybean crop at 4,205 vs 4,246 expected and 4,300 in July
- USDA estimated US wheat crop at 1,734 vs 1,739 expected and 1,739 in July
- USDA estimated US 2023/24 corn carryout at 2,202 vs 2,168 expected and 2,262 in July
- USDA estimated US 2023/24 soybean carryout at 245 vs 267 expected and 300 in July
- USDA estimated US 2023/24 wheat carryout at 615 vs 598 expected and 592 in July
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