Heartland Investor Services President Eugene Graner said the USDA corn production estimate was not expected. “With the condition scores since August, they had us with the worst crop in the last five years, yet, they produced the second highest historical yield ever at 181.2 bushels per acre.” That puts the corn carryout at 1.84 billion bushels. The soybean balance sheet remains tighter than corn. “Even though they increased the yield to 53.1 bushels per acre, they put total production at 4.5 billion.” The soybean ending stocks are a snug 315 million bushels.
