A Few Numb-ers From The USDA

In amongst the plethora of numbers released by the USDA yesterday were their first official estimates of 2010/11 crop production.

Some items of note include EU-27 barley output at 59.4 MMT, only 3.4% down on last season's 61.5 MMT. Barley yields are seen higher in 2010 than they were in 2009, averaging 4.5 MT/ha, they reckon. That trims ending stocks by just over a million tonnes to 13.9 MMT.

EU-27 wheat production for the coming season is seen at 145.1 MMT, 4.5% up on last year, with yields here also increasing slightly to 5.6 MT/ha. Ending stocks will grow further from 17.7 MMT at the end of 2009/10 to 18.2 MMT, they say.

Although global wheat production will fall by almost 8 MMT, and consumption will increase nest season, 2010/11 ending stocks are still seen rising the best part of 5 MMT by the end of the marketing year with stocks to usage staying around the plentiful 30% mark.

Kazakhstan are seen coming from nowhere a couple of years ago, to weigh in with wheat ending stocks of their own on a par with the likes of Canada and Australia.

More like numb-ers than numbers if you are cryptically minded, considering that the combines will be rolling again before too long.