August 12th was a huge day for commodity markets as USDA released its latest supply and demand report and first report of FSA certified acres. Market analysts were expecting the August supply and demand report to show increased production for soybean and corn and USDA did not disappoint the trade. At 4.425 billion bushels (bb), soybean production came in under the record crop of 2018-19 by just 3 million bushels (mb). USDA did bump soybean yield to 53.3 bpa, up from 47.4 bpa last year and above trade expectations. If realized, that would be a record high soybean yield, above the previous record of 52 bpa in the 2016-17 season. The bearish soybean news continued with U.S. new crop ending stocks, which were bumped up to 610 mb, up from USDA's estimate of 425 mb in July. The U.S. corn production estimate came in at 15.27 bb vs. the trade’s expectation of 15.17 bb. USDA pegged the U.S. average corn yield at 181.3 bpa versus the average trade estimate of 180.5 bpa. USDA Farm Service Agency released its initial reported acres figures this week for all crops. Oil-type sunflower planted acreage was pegged at 1.21 million acres with confection acres at 163,500. The figures were within the average trade estimates. FSA will update the acreage report in mid-September. USDA will provide their initial yield and production estimates for the 2020 oil-type and confection sunflower crop in October.