Written Commentary
STOCKS/ACRES REPORT HIGHLIGHTS
- A few surprises from USDA has the ag market lower
- Bearish US Wheat crop estimates
- Bearish US Sep 1 Soybean stocks
- Friendly US Sep 1 Corn stocks
- Markets also down as Government shutdown nears
- USDA estimated US Sep 1 corn stocks at 1,361 mil bu vs 1,429 expected and 1,377 ly
- USDA estimated US Sep 1 soybean stocks at 268 mil bu vs 242 expected and 274 ly
- USDA estimated US Sep 1 wheat stocks at 1,779 mil bu vs 1,772 expected and 1,778 ly
- USDA estimated US 2023 all wheat crop at 1,812 mil bu vs 1,729 expected and 1,734 in August.
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