Grains are mixed to close:

Dec Corn – 9 1/4 cents/bu (4.76 1/2)

Nov Soybeans – 22 1/2 cents/bu (13.46 1/2)

Dec Chi Wheat +3 cents/bu (5.87 ½)

Cdn $ +0.00150 (73.785)

WTI Crude Oil +1.52/barrel (88.81)

Corn- Report Bearish

• Corn Yield Dropped 1.3 to 173.8bu/acre
• USDA increased harvested area by about 775,000 acres (Increased production)
• Ethanol usage was knocked down 30 million bushels
• Net exports were adjusted up 35 million bushels
• World and U.S. Ending Stocks were Increased
• USDA increased the 22/23 Brazil corn crop 2 million mt to come to 137 mmt.
• The USDA also increased the Mexican crop by 1.5 mmt to 28 mmt.

Soybeans- Report Bearish

• Soybean yield dropped 0.8 to 50.1bu/acre
• 100,000 more acres were added to the U.S.
• World and U.S. ending stocks were Decreased, but less than expected
• The govt raised exports 10 million bushels, but crush was cut 10 million bushels. They also cut exports by 35 million.

Wheat- Report Neutral

• U.S. wheat carryout was steady
• World wheat carryout decreased by more than expectations (Argentina’s wheat crop dropped 1 mmt, Australia 3 mmt, Canada 2 mmt, and the EU 1 mmt. The only larger crop came from Ukraine which was 1.5 mmt larger)

Funds were thought to have been mixed today with corn and beans sellers and wheat a buyer.

Megan McGrail, Grain Merchandiser

Wanstead Farmers Co-operative

519-898-2861

meganm@wansteadfarmerscoop.com