Report in line with expectations

May 11, 2017

 

Wednesday’s USDA report was in line with trade expectations.

 

USDA had ending stocks for the 2017-18 marketing year 2.110 billion bushels for corn, 480 million for soybeans and 914 million for wheat. After the report was released late in the morning, corn was 3-4.5 higher, wheat was up 1-2 and soybeans were up 5-7 cents.

 

Illinois information released:

 

For winter wheat in the state, harvested area in 2017 is forecast at 450,000 acres, down 4 percent from the previous year. The winter wheat yield is forecast at 73 bushels per acre, down 1 bushel from 2016. Production is forecast at 32.9 million bushels, 6 percent below the previous year.

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