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USDA August Grain S&D Report, Tidbits, Markets & Rain Days Update 8/12/23

USDA S&D Report Analysis

Corn and soybean yields were less than expected and less than last month.

Corn and soybean production numbers were less than expected and less than last month.

The new crop corn carryover was reduced by one day for the US and unchanged for the world.

The new crop soybean carryover was reduced by 5 days to a very tight 21 day supply for the US and the world carryover was reduced by 1 day.

The average price expected to be paid to farmers for both corn and beans was increased.

The USDA cut old crop corn exports, which was not justified. Why?

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