From DTN Progressive Farmer:
This article was originally posted at 11:04 a.m. CDT on Friday, Aug. 12. It was last updated with additional information at 12:09 p.m. CDT on Friday, Aug. 12.
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OMAHA (DTN) -- USDA on Friday shaved corn production 146 million bushels to 14.35 billion bushels, but increased soybean production 25 million bushels to 4.53 billion bushels, which went against the pre-report estimates on soybeans.On yield, USDA lowered corn yields 1.6 bushels to 175.4 bushels per acre (bpa). For soybeans, yield was bumped up 0.4 bushel to 51.9 bpa.
USDA released the World Agricultural Supply and Demand Estimates (WASDE) as well as Crop Production reports that lowered crop acreage, yield and overall production for corn and soybeans.
Friday's U.S. ending stocks estimates were neutral for corn, slightly bearish for soybeans and slightly bullish for wheat prices, said DTN Lead Analyst Todd Hultman. World ending stocks estimates were slightly bullish for corn, slightly bearish for soybeans and neutral for wheat prices, he said.
You can also access the full reports here: [follow jump for links]
For DTN's exclusive audio comments on today's reports, visit:CORN
Estimated harvest acreage came in at 81.8 million acres, down just 100,000 acres from earlier forecasts. USDA bumped down the yield estimates 1.6 bushels to 175.4 bushels an acre. That put production at 14.359 billion bushels (bb), down 146 million bushels (mb) from July's forecast.....
....MUCH MORE
Earlier:USDA World Agricultural Supply Demand Estimates - August 2022 (WASDE)
