As expected, USDA’s August Supply and Demand Report has the U.S. corn yield pegged at 181.8 bushels per acre. The soybean yield estimate of 53.3 bushels per acre is slightly higher than pre-report trade estimates. The 2020 U.S. ending stocks for corn are estimated at 2.75 billion bushels, within the range of trade guesses. Soybean carryout is estimated at 610 million bushels, also with the range of trade estimates. Wheat ending stocks are within trade estimates at 925 million bushels.
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