S-D Report Released

USDA lowered U.S. old crop and new crop corn and soybeans but raised old and new crop wheat carryout in the July supply and demand report. New crop corn ending stocks by five million bushels from June to 2.09 billion on increased usage and exports. New crop production was increased on greater planted and harvested area while usage was raised by 100 million bushels and a 75 million bushel increase in exports. Domestic soybean production declined by 15 million bushels to 4.4 billion and reduced new crop ending stocks by 20 million bushels to 435 million bushels on lower harvested area and slightly lower beginning stocks. USDA raised all-wheat production by 134 million bushels to 2.01 billion bushels on increased harvested area and higher yields.