From DTN Progressive Farmer, October 12:
This article was originally posted at 11:04 a.m. CDT on Wednesday, Oct. 12. It was last updated with additional information at 11:30 a.m. CDT on Wednesday, Oct. 12.
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OMAHA (DTN) -- USDA on Wednesday released its October Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.
USDA shaved corn production 49 million bushels (mb) to 13.895 billion bushels (bb) and cut yield .6 bushels per acre (bpa) to 171.9 bpa, right in line with pre-report estimates.
USDA lowered its yield estimate for soybeans to 49.8 bpa, .7 bpa lower than September's estimate. It left planted and harvested area unchanged at 87.5 million acres and 86.6 million acres, respectively. That put overall production at 4.313 bb, within the range of pre-report expectations.
USDA estimates U.S. wheat ending stocks at 576 mb, the lowest level in 15 years and above the pre-report estimate of 563 mb....
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Here's the WASDE (40 page PDF)
Two notes on chartology. Wheat, despite the ho-hum report has not (yet) broken the series of higher highs and higher lows while rice is beginning to look interesting from the long side:
Both charts via FinViz (also on blogroll at right). 893 and 16.75 respectively.
