USDA issues Nov. report

USDA on Thursday put corn yields at 178.9 with ending stocks at 1.736 billion.

Soybeans were at 52.1 bushels per acre with ending stocks at 955 million. Wheat stocks saw little change but the big shock was the world corn stocks at 307.51 mmt versus last month’s 159.35 mmt.

After the report was issued late morning, corn was down 6, beans down 14 and wheat was down around 4. Our thanks to Merrill Crowley of Midwest Market Solutions for the information.

Illinois crop production information:

Corn: Planted area is estimated at 11.00 million acres, down 2 percent from last year. Harvested area, forecast at 10.85 million acres, is down 1 percent from 2017. Based on November 1 conditions, the Illinois corn yield is forecast at a record 210 bushels per acre, down 2 bushels from last month but up 9 bushels from 2017. Production is forecast at 2.28 billion bushels, up 4 percent from last year’s production. If realized, this would be the third highest production on record.

Soybeans: Planted area is estimated at 10.8 million acres, up 2 percent from last year. Harvested area, forecast at 10.75 million acres, is up 2 percent from 2017. Based on November 1 conditions, the Illinois soybean yield is forecast at a record high 64 bushels per acre, up 6 bushels from 2017. Production is forecast at 688 million bushels, up 12 percent from 2017 and the highest production level on record for Illinois.