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September WASDE- Bullish For Soybeans | Rural Radio Network

September WASDE- Bullish For Soybeans

September WASDE- Bullish For Soybeans

As expected USDA and the World Outlook Board lowered their predictions for US production of corn and soybeans. Soybean ending stocks were also reduced giving bulls there added incentive to continue buying. USDA also excluded 550,000 acres of corn in Iowa due to the derecho wind event.

Wheat may be the biggest loser on the day with USDA raising it’s estimate of Australian production. US and global stocks also appear to be plentiful for wheat.

 

 

US Corn & Soybean Production 2020 Millions of Bushels September Average Range USDA August USDA 2019
Corn 14,900 14,833 14,625-15,095 15,278 13,617
avg. yield 178.5 177.7 174.8-181 181.8 167.4
Soybeans 4,313 4,286 4,192-4,391 4,425 3,552
avg yield 51.9 51.6 50.5-52.9 53.3 47.4
US 19-20 Stock Pile Millions of Bushels September Average Range USDA August
Corn 2,253 2,271 2,128-2,756 2,228
Soybeans 575 605 561-664 615
US 20-21 Stock Pile Millions of Bushels September Average Range USDA August
Corn 2,503 2,439 2,152-2,697 2,756
Soybeans 460 461 379-576 610
Wheat 926 926 900-948 925
World Stockpiles19-20 Million Metric Tons September Average Range USDA August
Corn 309.2 311.7 309.1-317.5 311.3
Soybeans 96 95.6 94-96.5 95.9
Wheat 299.8 302.8 299-316.8 300.9
World Stockpiles 20-21 Million Metric Tons September Average Range USDA August
Corn 306.8 310.4 304-317 317.5
Soybeans 93.6 93.2 89.5-100 95.4
Wheat 319.4 316.1 313.1-319 316.8
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