Grains and Soybeans Are Waiting for WASDE

Grain futures market update

Grain futures market update

Corn (July)

The USDA’s WASDE report comes out today at 11:00 am CST. Old crop ending stocks are expected to come in near 2.15 billion bushels, up from the 2.098 we saw last month. New crop ending stocks are expected to come in near 3.36 billion bushels, a notch higher from last month. 

Weekly export sales came in at 660,700 metric tons, up 4% from last week but 12% below the 4-week average

Soybeans (July)

Old crop ending stocks are expected to come in near 577 million bushels, 3 million less than last month. New crop ending stocks are expected to come in near 426 million bushels, 21 million more than last month’s report showed.

Weekly export sales came in 1,003,700 metric tons, a sharp increase from last week and 36% higher than the 4-week average. 

Chicago Wheat (July)

Expectations are that wheat production will be near 1.85 billion bushels, a notch below last month’s report at 1.866 billion bushels. Old crop ending stocks are expected to come in near 979 million bushels, near unchanged from last month. New crop ending stocks are expected to come in near 897 million bushels, compared to the 909 we saw in last month’s report. 

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