Corn, soybean stocks lowered

In Tuesday’s USDA report, U.S. corn stocks for 2018-19 dropped to 1.576 billion bushels. This is down 86 million bushels.

Soybean stocks dropped to 385 million bushels down 32 million from May’s report. After the report was issued late morning, corn was up 9, beans up 5 and wheat was up 18. Thanks to Merrill Crowley with Midwest Market Solutions for this information on Tuesday.

U.S. winter wheat production is forecast at 1.2 billion bushels, up a percent from the May 1 forecast but down 6 percent from 2017. As of June 1, the U.S. yield is forecast at 48.4 bushels per acre. That is up 0.3 bushel from last month but down 1.8 from last year’s average yield of 50.2. Hard red winter wheat production, at 650 million bushels, is up a percent from last month. Soft red winter, at 316 million bushels, is up slightly from the May forecast.

Illinois crop production information:

According to USDA, the Illinois winter wheat harvested area in 2018 is expected to be at 510,000 acres, up 9 percent from the year before. The winter wheat yield is forecast at 75 bushels per acre, down a bushel from 2017. The production forecast is at 38.3 million bushels. This is 7 percent above the previous year.