Morning Ag Markets – Pete Loewen 09/13/18
Grain and oilseed trade got some shocker numbers in the reports and market action was sharply lower in corn, actively lower in wheat and higher in beans. The biggest report focus was corn and soybean yield and production totals. Corn yield was a whopping, record bearish 181.3 bu/ac, yet ending stocks were still bullish at 1.774 bln. Soybean yield was a monster as well at 52.8 bu/ac with carryout badly bearish at 845 mln. New crop world ending stocks totals were all slightly larger than the pre-report estimates. Old crop world numbers were higher than the guesses in corn and wheat and a little lower in beans. Big picture round numbers have world wheat ending stocks down 13 mmt’s from a year ago, world soybean…