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Data for: July 2018
Source: U.S. Department of Agriculture
                                                   Jun Est      Jul Est    
Wheat                                2017/18       2018/19      2018/19
Area Planted (mln acres)                46.0          47.3         47.8              
Area Harvested (mln acres)              37.6          38.9         39.6              
Yield per Harvested Acre (bushels)      46.3          46.9         47.5                                                                                               
Beginning Stocks (mln bushels)          1181          1080         1100                                                                       
Production                              1741          1827         1881                                                   
Imports                                  157           135          135                 
 Supply Total                           3079          3043         3117                                              
Food                                     963           965          965          
Seed                                      64            62           62             
Feed and Residual                         50           120          130          
 Domestic Total                         1077          1147         1157                                         
Exports                                  901           950          975        
 Use, Total                             1978          2097         2132                                        
Ending Stocks                           1100           946          985                                       
Average Farm Price ($/bushel)           4.73     4.60-5.60    4.50-5.50                                                   
--                                                                     
                                                   Jun Est      Jul Est    
Corn                                 2017/18       2018/19      2018/19
Area Planted (mln acres)                90.2          88.0         89.1        
Area Harvested (mln acres)              82.7          80.7         81.8        
Yield per Harvested Acre (bushel)      176.6         174.0        174.0                                                                             
Beginning Stocks (mln bushels)          2293          2102         2027                                                                                               
Production                             14604         14040        14230                                    
Imports                                   40            50           50              
 Supply Total                          16937         16192        16307    
Food and Residual                       5450          5350         5425     
Food, Seed, and Industrial              7060          7165         7105    
 Ethanol, by-products                   5600          5675         5625    
 Domestic Total                        12510         12515        12530    
Exports                                 2400          2100         2225    
 Use, Total                            14910         14615        14755    
Ending Stocks                           2027          1577         1552 
Average Farm Price ($/bushel)      3.30-3.50     3.40-4.40    3.30-4.30
--                                                                    
                                                   Jun Est      Jul Est    
Soybeans                             2017/18       2018/19      2018/19
Area Planted (mln acres)                90.1          89.0         89.6       
Area Harvested (mln acres)              89.5          88.2         88.9       
Yield per Harvested Acre (bushels)      49.1          48.5         48.5                                                       
Beginning Stocks (mln bushels)           302           505          465                                                                                                                 
Production                              4392          4280         4310                                                            
Imports                                   22            25           25             
 Supply Total                           4715          4810         4800    
Crushings                               2030          2000         2045       
Exports                                 2085          2290         2040    
Seed                                     104           103          103             
Residual                                  32            32           32             
 Use, Total                             4251          4425         4220                                     
Ending Stocks                            465           385          580        
Average Farm Price ($/bushel)           9.35    8.75-11.25   8.00-10.50 
--
                                        2017          2018         2019
All Milk Prices ($ per cwt)            17.65   15.95-16.25  16.25-17.25
     ** MNI Washington Bureau (202) 371-2121 **
[TOPICS: MTABLE$,M$U$$$,MAUDA$,MAUDT$]                   

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