USDA revises 2022 corn and soybean production lower January 12, 2023
The completed fall corn harvest was revised down by 200 million bushels on today’s report to 13.730. That was under the 13.933 trade estimate (ALDL 13.933). Over the prior 20 year period there were only four other years with a larger decline. The quarterly Grain Stocks report showed only 10.809 billion of old crop as of December 1. That was under the 11.153 trade estimate (ALDL 10.752). To make this work it would imply Sep – Nov feed/residual at 2.334 billion. That would be -9% from last year, 219 million bushels.
Please login to your premium subscription to view this content in its entirety.
Post Archives
Allendale Insider
Allendale Insider
On The Go
-
Cattle and hogs diverge this week.
June 9, 2023
-
Trade Worries About Weather, Soybeans End On A High Note
June 9, 2023
-
Minor changes from USDA. Weather is the main driver ahead.
June 9, 2023
-
Cattle market debates a potential peak.
June 8, 2023
-
Worst early-summer setup in modern history, but…
June 8, 2023
On The Go
June 9, 2023
June 9, 2023
June 9, 2023
June 8, 2023
June 8, 2023
Market Movers
Market Movers
Snapshots
Snapshots