For corn the average guess was 300.9 million metric tons, virtually unchanged from last month.
Soybeans at 102.2, unchanged from last month.
Wheat stocks at 267, down just a fraction from last month.
World Ending Stocks
Crop Reports
USDA Soybean Yield Estimates
Soybean yield came in with a trend line yield of 51.5.
USDA raised the yield to 51.9 in the August crop report, but since then they have reduced the yield with today coming in at 50.2.
USDA Corn Yield Estimates
This year we began with a trend lien yield of 181, that yield was reduced due to late planting to 177, and the current yield is 172.3 up slightly from last month.
October WASDE Report 10-12-2022
Quarterly Stocks
Corn came in at 1.377 billion bushels, that was 120 million bushels below the average trade guess and down 148 million bushels from the September crop report.
Soybeans at 274, 27 million bushels above the average trade guess and up 34 million bushels from the September crop report.
Wheat stocks in 1776 was 19 million bushels below the average trade guess and wheat stocks were considered bullish.
Quarterly Stocks Report 9-30-2022
Quarterly Stocks
Corn, which is the final ending stocks, are estimated at 1497 that would be 28 million bushels below the September crop report.
Soybeans expected to come in at 247 bushels, that would be up 7 million bushels from the September crop report.
Wheat estimated to come in at 1795, that would be up 21 million bushels from last year’s September stock.
The trade is not expecting any major adjustments, therefore any large changes in USDA’s number could produce significant market moves.
Soybean Crop Production
Soybeans held steady at 55% good to excellent but that’s below last year and the trend line.
The trend line yield for U.S. soybeans is 52.5%.