Corn stocks down, beans up in report

In Friday’s USDA report, corn quarterly stocks were down five percent from December 2017 while soybean stocks were up 18 percent with wheat stocks up seven percent.

The corn ending stocks were 1.735, down from the last report of 1.781 billion bushels. Yield dropped 2.5 bushels per acre. Soybean ending stocks were 910 million versus the last report of 955 million. Yield was dropped a half bushel. Meanwhile, wheat ending stocks were up to 1.010 billion bushels compared to the previous report of 974 million.

After the USDA information was released Friday morning, corn initially traded down more than a cent while beans were 3.5 cents lower and wheat was up 3.

Illinois Crop Production information:

Corn: Planted area, at 11.00 million acres, is down 2 percent from 2017. Corn for grain was harvested on 10.85 million acres, down 1 percent from the previous year. The corn yield is estimated at 210 bushels per acre, up 9 bushels from 2017. Production is estimated at 2.28 billion bushels, up 4 percent from last year. This is a record high yield and third highest production on record.

Soybeans: Planted area, at 10.80 million acres, up 2 percent from 2017. Harvested area, at 10.75 million acres, is up 2 percent from the previous year. The soybean yield is estimated at a record high 65 bushels per acre, up 7 bushels from 2017. Production is estimated at a record high 699 million bushels, up 14 percent from the previous year.

Illinois Grain Stocks:

Corn stocks in all positions on December 1, 2018 totaled 2.08 billion bushels, down 1 percent from December 1, 2017. On-farm stocks totaled 1.10 billion bushels, while off-farm stocks totaled 983 million bushels. The September - November 2018 indicated disappearance is 571 million bushels.

Soybean stocks in all positions on December 1, 2018 totaled 671 million bushels, up 32 percent from December 1, 2017. On-farm stocks totaled 325 million bushels, while off-farm stocks totaled 346 million bushels. The September - November 2018 indicated disappearance is 114 million bushels.

All wheat stocks in all positions on December 1, 2018 totaled 34.6 million bushels, down 26 percent from December 1, 2017. On-farm stocks totaled 1.85 million bushels, while off-farm stocks totaled 32.7 million bushels. The September - November 2018 indicated disappearance is 11.1 million bushels.

Winter wheat seeded area for harvest in 2019 is estimated at 600,000 acres, the same as 2018.