Traders Formulating Pre-Report Estimates for Next USDA Report

(CHICAGO, IL) USDA is preparing to release its Small Grains Summary and Grain Stocks reports next Tuesday. Traders are beginning to weigh in with their report estimates and Allendale, says they are very interested in a report that includes a revision to the previous year’s soybean crop included in their September 1st soybean stocks estimate. Allendale assumes the fall 2018 soybean crop will be revised up by 11.1 million bushels to 4.56 billion. There will be no revision for 2018 corn production on this report.