Greetings: 10 Oct 2019, Thursday.
Just a quick update after the USDA / WASDE report today. DEC19 Corn futures at 12:12 PM ET today down 9.50 cents at 385.
If you want the “short version”: Little change, though the avg. to farm price went from 360 to 380 (where it had been earlier.) This was due to adjustments of exports and usage.
In next weeks TRADE COMMENTARY, I’ll put up the charts and discuss this in more detail. Now, at 12:22 PM, DEC19 trading 382, down -12.25 cents/bushel. Thanks – Don
Here’s an excerpt from today’s report: (available at: https://www.usda.gov/oce/commodity/wasde/
My suggestion is you download the PDF version and print the pages you need from there. I’m not sure these columns will hold up for mobile viewing (you may have to scroll to right margin to read it), so just download the PDF and compare SEP and OCT numbers, you will see they are almost no change or ‘small changes’ overall. You have to scroll down quite a few pages to find “coarse grains and corn” tables.
U.S. Feed Grain and Corn Supply and Use 1/ ================================================================================ 2017/18 2018/19 Est. 2019/20 Proj. 2019/20 Proj. Item Sep Oct ================================================================================ Million Acres FEED GRAINS Area Planted 100.9 100.1 100.7 100.7 Area Harvested 90.5 89.6 90.0 89.6 Metric Tons Yield per Harvested Acre 4.24 4.24 4.05 4.06 Million Metric Tons Beginning Stocks 62.1 57.9 65.9 57.8 Production 384.1 379.7 364.1 363.4 Imports 2.7 2.3 3.2 3.1 Supply, Total 449.0 440.0 433.2 424.3 Feed and Residual 138.6 147.6 137.4 140.3 Food, Seed & Industrial 185.3 179.7 181.8 180.1 Domestic, Total 323.9 327.3 319.1 320.4 Exports 67.2 54.9 54.7 50.9 Use, Total 391.1 382.2 373.9 371.3 Ending Stocks 57.9 57.8 59.4 53.0 Million Acres CORN Area Planted 90.2 89.1 90.0 89.9 Area Harvested 82.7 81.7 82.0 81.8 Bushels Yield per Harvested Acre 176.6 176.4 168.2 168.4 Million Bushels Beginning Stocks 2293 2140 2445 2114 Production 14609 14420 13799 13779 Imports 36 28 50 50 Supply, Total 16939 16588 16295 15944 Feed and Residual 5304 5618 5175 5300 Food,Seed& Industrial 2/ 7057 6791 6880 6815 Ethanol & by-products 3/ 5605 5376 5450 5400 Domestic, Total 12361 12409 12055 12115 Exports 2438 2065 2050 1900 Use, Total 14798 14474 14105 14015 Ending Stocks 2140 2114 2190 1929 Avg.FarmPrice ($/bu) 4/ 3.36 3.61 3.60 3.80 ================================================================================ WASDE - 593 - 13 October 2019
Good news for short 420 DEC19 Corn CALLS. When Kansas State Univ put out the charts update, I’ll present it here. – Don
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