6/11/2026

The USDA report was noneventful and now we wait for the stocks and acres report on June 30^th.  25/26 corn carryout was estimated at 2.145 billion vs an average guess of 2.138 billion.  26/27 corn carryout was estimated at 1.960 billion vs an average guess of 1.947 billion. 26/27 World corn carryout was estimated at 281.22 Million Tonnes vs an average guess of 278.51.  That is up 4 Million Tonnes from the May USDA report.   On the Soybean side of things, the 25/26 bean carryout was put at 340 million bushels vs an average guess of 338 million.  The 26/27 bean carryout was put at 310 million bushels vs an average guess of 312 million.  The 26/27 World bean carryout was put at 124.88 Million Tonnes vs an average guess of 125.28 Million Tonnes.  The notable changes in the South America production had Argentina beans at 50 Million Tonnes vs 48 Million Tonnes in May.  They also raise the Brazil corn production to 138 Million Tonnes vs 135 Million Tonnes in May.  Overall, this report gave us nothing friendly to help recover from recent decline in the markets.  Corn and beans are both trading lower yet again on the news.