What To Expect From The USDA

The USDA are out on Wednesday with their Sept 1st stocks estimates, here's a quick note of what the trade is expecting:

Corn:

Average trade guess is 1.719 billion bushels in a range of 1.665-1.803 billion.

Beans:

Average trade guess is 111 million bushels in a range of 90-135 million.

Wheat

Average trade guess is 2.131 billion bushels in a range of 2.065-2.239 billion.

They'll also report on wheat production with trade guesses for all wheat ranging from 2.154-2.244 billion bushels, with an average of 2.196 billion. All winter wheat is expected to comprise 1.542 billion of that, with spring wheat averaging 552 million bushels and durum 98 million.