Corn $4.225 up 2 cents
Wheat $6.4975 down 3.25 cents
Soybeans $12.875 up 21 cents
From AgWeb:
WASDE: Corn Production Increased, National Yield Now at 160.4
Note: The World Agricultural Supply and Demand Estimates (WASDE) report was not published in October 2013 due to the Federal Government shutdown.
COARSE GRAINS: Projected U.S. feed grain supplies for 2013/14 are raised with higher estimated beginning stocks and increases in corn and sorghum production with the November Crop Production report. Corn production is forecast 146 million bushels higher at a record 13,989 million bushels.
A 1.9-million-acre reduction in harvested area is more than offset by a 5.1-bushel-per-acre increase in the forecast yield. At 160.4 bushels per acre, the national average yield remains 4.3 bushels per acre below the record in 2009/10. Despite a late planted crop and July and August dryness across much of the Corn Belt, cooler-than-normal summer temperatures and an extended growing season have supported higher-than-expected yields for most producers.
Higher yields are forecast this month across the Plains, Corn Belt, and South. Sorghum production is also higher, up 20 million bushels from the September forecast as higher area boosts production despite a lower yield. A very small decrease is reported for oats production with the resurvey of North Dakota and Montana producers. Production for both barley and oats were previously lowered in the Small Grains report.
U.S. corn supplies for 2013/14 are projected 307 million bushels higher at a record 14,837 million bushels as this month’s increase in production combines with higher beginning stocks from the September 30 Grain Stocks report. Total corn use is raised 275 million bushels, offsetting much of the supply increase. Feed and residual use is raised 100 million bushels with the larger crop. Corn exports are projected 175 million bushels higher with larger supplies and lower prices that have increased the competitiveness of U.S. corn as indicated by strong outstanding export sales and rising export shipments in recent weeks....MORE
Also at AgWeb:
- WASDE: Record Rice Production Cause Increase in Supply
- WASDE: Wheat Production and Supplies Raised
- WASDE: Soybean Yield Projected at 43 Bu. per Acre
