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Oct 17 USDA Report

USDA October 2017 Corn S/D Estimates (Billion Bu.):
USDA 10/17
Avg Trade Guess
USDA 09/17
Production
14.280
14.204
14.184
Yield
171.8
170.1
169.9
Harvested Acres
83.1
83.5
83.5
Ending Stocks
2.340
2.289
2.335
USDA October 2017 Soybean S/D Estimates (Billion Bu.):
USDA 10/17
Avg Trade Guess
USDA 09/17
Production
4.431
4.447
4.431
Yield
49.5
50.0
49.9
Harvested Acres
89.5
89.01
88.7
Ending Stocks
430
447
475
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Yesterday’s Strong Closes Are Supportive

Good morning. Grains and soybeans are modestly higher this morning, supported by yesterday’s strong closes which left technical indicators pointing higher. Soybeans are also gleaning support from Midwest weather forecasts that show little rainfall  for the first half of September as the crop finishes out. The Dollar is a bit weaker this morning; crude oil is little changed. The USDA will release its monthly Grain Crushings and Fats and Oils reports after the close this afternoon. Traders expect

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