2017 corn yields Van Trump Report

USDA data sends markets in different directions

The January 12 WASDE report showed an increase in corn yield and ending stocks.

USDA raised U.S. corn yield and ending stocks increased by 40 million. Quarterly stocks were the highest on record and we continue to swim in old-crop supply.

South American production was left "unchanged" as many had hoped to see a slight reduction. Global ending stocks pushed higher, while corn market posts fresh new contract low.    

  • Total U.S. production was reported at 14.604 vs 14.578. 
  • Yield was reported at 176.6 vs 175.4 last month 
  • Harvested Acres were 82.703 down from 83.119.
  • Feed demand lowered -25 million bushels, exports, and ethanol unchanged.  
  • Ending stocks were reported at 2.477  from 2.437 billion.
  • Dec 1 quarterly stocks were reported at 12.516 vs. 12.386 last year. 
  • Brazil production "unchanged" at 95.00 MMTs
  • Argentine production "unchanged" at 42.00 MMTs
  • Global Ending stocks reported at 206.6 vs. 204.08

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TAGS: Corn Marketing
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