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USDA Releases Dec WASDE Report

The USDA is still projecting corn production at 13.66 billion bushels, while soybean production is expected at 3.55 billion.
 
Tuesday's WASDE report also left yields unchanged, with the average corn yield pegged at 167 bushels per acre, with soybeans at 46.9.
 
Revised crop estimates for 2019 will likely be seen in next month's WASDE report, due to the millions of bushels of grain still unharvested.

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Next week’s USDA reports (acreage/stocks) could be a surprise/market moving. RVO’s (new blending biofuel requirements) were as expected with no big surprises and already baked into futures. E15 summer waiver just simply good optics. Markets are skeptical that the war in Iran ends soon with no diplomatic off ramp. The Trump/Xi meeting in China now May 14 – 15. March 1 USDA hogs and Pigs report was friendly/bullish + CFTC and more.