USDA Reports and Supply & Demand Tables
University of Missouri Extension Meetings in Southeast Missouri
Corn Meeting - December 13, 2017 at the Miner Convention Center, Miner, MO
Soybean Meeting - January 17, 2018 at the Miner Convention Center, Miner, MO
Corn
USDA will release their Supply and Demand and production estimates tomorrow September 12. The trade is expecting the corn yield will be cut at least 1.0 bushel to 168.2 bushels/ acre which will result in a 100 million reduction in the ending stocks to 2.18 billion. For ending stocks to fall below 1.5 billion bushels, the yield will need to be 160.0 bushels per acre or less.
Technically, December futures has nearby support at $3.55. The next support level is at $3.44. Price resistance is back at the old support level at $3.75. There is a lot price resistance from $3.75 to $4.15. Seasonally, December corn futures has an average rally from August to September based on closing prices of 30 cents/bu. If the price support at $3.44 holds, $3.74 would be the price target. Unless there is a production surprise, I expect December futures to trade in the $3.44 to $3.75 range.
Soybeans
For soybeans, the average trade guess for yield is 48.8 bu./ac down from 49.4 in August. Production is projected to be down slightly and ending stocks are to be trimmed 30 million bushels to 442 million bushels. Just as in corn, there is no treat of running out of soybeans at this time.
Technically, November futures has nearby support at $9.60 then at $9.30 and $9.20. Resistance is in the $9.80 to $10.10 price range. Seasonally, November soybean futures has an average rally from August to September based on the closing prices of 80 cents/bu. If the price support at $9.10 holds, $9.90 would be a price target.
Wheat
The average trade guess is for wheat ending stocks to be down only slightly to 920 million bushels.

Technically, July 2018 wheat futures has support at $4.74 and resistance $5.10.
Cotton
We are looking at a big cotton crop and increasing ending stocks. How much negative impact the hurricanes will have on cotton production is unknown at this time.
It is important for a cotton producer to remain in close contact with his cotton buyer to get the most current price quotes.
Technically, December futures has ran into resistance at 75.5 cents. Support is at 71.5 cents and then at 66.5 cents. Unless there is significant production damage, prices could fall back into the 71.0 to 69.0 cent price range.
Rice
U.S. rice ending stocks remain tight compared to the world ending stocks.
For cash rice quotes, contact your rice buyer to get the most current price quotes and cash price outlook.
Technically, November futures continues to climb higher on less acres and declining ending stocks for new crop U.S. rice. Near term support is at $12.60 and the next resistance levels is at $13.50. Keeping a trailing stop 25 to 50 cents below the market would be a good idea.