First Agriculture Supply Report of the Year Released
After two months of delays because of the government shutdown, the World Agricultural Supply and Demand Estimates (WASDE) report was released. The U.S. corn outlook looks to have lower imports, production, seed, feed, and ending stocks. Corn production is estimated at 14.42 billion bushels, down 206 million on yield reduction. Yield is estimated at 176.4 bushels per acre. Corn stocks are lowered by 46 million bushels to 1.73 billion bushels. Total world production is estimated at 1.099 billion metric tons.