USDA boosts its guess of Iowa corn production

USDA boosts its guess of Iowa corn production

USDA has estimated not only larger production, but also increased feed and residual use, along with more exports, which were both raised by 75 million bushels. But an estimated 2.14 million acres will be run through the combines in 2017-breaking the previous record set a year ago.

USDA estimates for corn acres planted and harvested remain unchanged, at 90.4 million acres and 83.1 million acres, respectively.

The U.S.D.A. forecast corn carryover on September 1, 2018, at 2,487 million bus.

Iowa's soybean production is forecast at 557 million bushels, with a yield of 56 bushels per acre.

1 conditions, average corn yield in 2017 was forecast at a record 175.4 bushels an acre, up 3.6 bushels from October and up 0.8 bushels from 174.6 bushels an acre in 2016, the previous record.

Graduation Success Rate for Student-Athletes Sets All-Time Mark
This year's change was marked by a 3 percent increase from last year for African-American athletes, to 77 percent from 74 percent. The Razorbacks' two most profitable sports, football and men's basketball, recorded their highest scores in the GSR.

The U.S. Department of Agriculture has once again upped its predictions for Colorado's 2017 corn-for-grain production. Corn for ethanol was left unchanged at 5.475 billion bushels. Last month the USDA predicted average yields in Colorado would be 145.0 bushels per acre, but that figure was increased to 148.0 this month.

NCDEX Soybean Dec futures falls in Thursday on expectation that soybean arrivals have peaked and pressure on edible oil counter.

Today's close will say a lot about the tone of the soybean market, Knorr adds.

The USDA forecast the corn carryover of September 1, 2018, at 2,487 million bus. That was 41% lower than last week and down 53.8% from this week a year ago. It might take years for world wheat stocks to decrease significantly. In turn, ending stocks are pushed higher from 2.340 billion to 2.487 billion bushels. The projected average farm price for 2017/18 held steady at $4.40 to $4.80 per bushel. Moreover, The USDA reported 1.16 mt of soybeans sold for export during the week of 11/2. "That's actually in line with what my models have been showing, though I didn't expect the agency to make a change yet".

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