Golly from all the news I thunked the report was suppose to be bearish.. Looking at Total supply of Feed Grains.. they actually Cut it from August to September..
U.S. Feed Grain and Corn Supply and Use 1/
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2015/16 2016/17 Est. 2017/18 Proj. 2017/18
Proj.Item Aug Sep
================================================================================
Million Acres
FEED GRAINS
Area Planted 103.2 106.6 101.8 101.8
Area Harvested 93.0 96.5 91.6 91.6
Metric Tons
Yield per Harvested Acre 3.94 4.17 4.07 4.08
Million Metric Tons
Beginning Stocks 46.9 48.1 64.7 63.5
Production 366.7 402.3 372.7 373.6
Imports 3.7 3.2 3.3 3.3
Supply, Total 417.4 453.6 440.7 440.4
Feed and Residual 135.3 143.5 142.3 142.9
Food, Seed & Industrial 176.8 181.9 184.8 182.9
Domestic, Total 312.1 325.4 327.1 325.9
Exports 57.2 64.7 52.5 52.5
Use, Total 369.3 390.0 379.6 378.3
Ending Stocks 48.1 63.5 61.1 62.1
Granted it wasn't much.. 0.3 mmt's and yes they did raise the ending carryout out by 1 mmt's but they slashed corn demand.. ethanol and exports.. to do it.
In Fact they cut Corn exports by 400 mln bushels.. If not for that we'd see carryout sub 2 billion..??
Million Acres
CORN
Area Planted 88.0 94.0 90.9 90.9
Area Harvested 80.8 86.7 83.5 83.5
BushelsYield per
Harvested Acre 168.4 174.6 169.5 169.9
Million Bushels
Beginning Stocks 1731 1737 2370 2350
Production 13602 15148 14153 14184
Imports 68 55 50 50
Supply, Total 15401 16940 16573 16585
Feed and Residual 5114 5425 5450 5475
Food,Seed& Industrial 2/ 6648 6870 7000 6925
Ethanol & by-products 3/ 5224 5435 5500 5475
Domestic, Total 11763 12295 12450 12400
Exports 1901 2295 1850 1850
Use, Total 13664 14590 14300 14250
Ending Stocks 1737 2350 2273 2335
Avg.FarmPrice ($/bu) 4/ 3.61 3.35 2.90-3.70 2.80-3.60
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WASDE - 569 - 13 September 2017
The Sorghum crop is gonna be down quite a bit.. over 100 myn bushels from last year.. which is over a 20% reduction.. it doesn't matter much for most the rest of "ya'll" but out here.. it matters.. the ethanol plants will have to grind more corn.. etc.. (or wheat.. ;-) to make up the difference.. And seeing that sorghum is down 220 myn bushels from two year's ago.. I kind of wonder if we'll see some recovery in acreage for that crop next year.. cheaper to grow.. the neighbors sorghum field across the road looks pretty decent (like double) the yield of the dryland corn this year.. bummer.
U.S. Sorghum, Barley, and Oats Supply and Use 1/
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2015/16 2016/17 Est. 2017/18 Proj. 2017/18 Proj.
Item Aug Sep
================================================================================
Million Bushels
SORGHUM
AreaPlanted (mil. acres) 8.5 6.7 6.0 6.0
AreaHarvested(mil.acres) 7.9 6.2 5.3 5.3
Yield (bushels/acre) 76.0 77.9 69.6 69.8
Beginning Stocks 18 37 53 29
Production 597 480 369 371
Imports 5 2 0 0
Supply, Total 620 519 422 399
Feed and Residual 107 130 60 60
Food, Seed & Industrial 137 115 100 100
Total Domestic 244 245 160 160
Exports 340 245 210 210
Use, Total 583 490 370 370
Ending Stocks 37 29 52 29
Avg.FarmPrice ($/bu) 2/ 3.31 2.85 2.50-3.30 2.50-3.30
So all in all.. there's some nuggets to dig out of these reports.. "ain't all bad.."
edit : I give up.. check out the link ( https://www.usda.gov/oce/commodity/wasde/latest.txt )
Edited by JonSCKs 9/13/2017 08:59
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Total US Feedgrains supply reduced in Sept Report.
