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Tidbits, Yield Observations, S&D Estimates, Export Sales, Markets & Rain Days Update 9/9/23


USDA announced yesterday morning China bought 121,000 mts of soybeans.

Corn crushed in July for ethanol was 454 million bushels, up 3% from a year ago. August corn ethanol crush needs to be 491.9 million bushels to meet USDA’s projection for the marketing year which ended August 31st. That is not likely to happen.

The US Census Bureau is the final authority on US food and fiber consumption and exports.

Through the first 11 months of the old crop marketing year, Census Bureau corn exports were 1.557 billion bushels. To meet USDA's export estimate for the marketing year, we needed to export 67.45 million bushels in August.

Weekly USDA corn export inspections for August total 58.2 million. With Census Bureau corn exports running 7% more than the weekly USDA inspections, it looks like corn exports will be just ~5 million bushels less (very close) than the USDA projection for the marketing year.

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