Tidbits, S&D Highlights, Fed Reserve, Iran, ENSO, Export Inspections 1/13/26
- Wright team
- 19 minutes ago
- 5 min read
USDA's S&D Highlights
The highlights of yesterday’s USDA data were:
Corn yield: 186.5, 1.2 bushels above the highest pre-report estimate.
Corn production was 294 million bushels more than the highest estimate.
Corn harvested acres: 900,000 more than the highest estimate with an increase of 1.22 million in January after an increase of 1.38 million in September after a 1.93 million increase in August.
Corn world carryover was 7.91 million mts more than the highest estimate.
Corn for feed use in the U.S. increased 100 million bushels.
Soybean harvested acres increased 100,000 acres.
Soybean stocks as of 1 December were actually 6 million less than expected.
Winter wheat seeded acres were 700,000 more than expected at 33 million; the highest estimate was 33.4 million.
Brazil’s soybean crop was increased by 3 million to 178 million mts. It is very unusual for USDA to change any production estimates in SA this early in the growing season, especially after a late planting. Everything else in South America was unchanged.
USDA did increase the national average price to be paid to farmers for their 2025 corn by 10¢; USDA reports that price increase on a day their numbers cause corn futures to settle 24¢ lower. It is rather insulting, don’t you think?
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