The USDA Numbers

Posted by Nogger - a legend in his own mind at 13:35 | Categorized as

09/11/11 -- The long awaited USDA numbers are out and US corn yields are pegged a bushel and acre lower than the average trade guess at 146.7bpa, with US production coming in fractionally lower than anticipated at 12.31 billion bushels.

For soybeans yields came in at 41.3bpa, 0.2bpa down on last month and 0.1bpa lower than what was expected. Production was a tad under the average trade guess at 3.046 billion bushels.

US ending stocks however were higher across the board compared with trade estimates, with corn coming in at 843 million, beans at 195 million and wheat at 828 million.

World corn ending stocks were a little lower than expected, with soybeans bang on the money and wheat 1 MMT up on trade forecasts at 202.6 MMT.

Here's the numbers in detail:




















































































































US Production Estimates 2011/12 (Billion Buhels):
 

USDA

Nov 11
Avg Est
Range

USDA

Oct 11
USDA 10/11
Corn
12.310
12.381
12.049-12.549
12.433
12.447
Yield
146.7
147.7
145.0-149.5
148.1
152.8
Beans
3.046
3.048
2.951-3.110
3.060
3.329
Yield
41.3
41.4
40.4-42.2
41.5
43.5
US Ending Stock Estimates 2011/12 (Billion Buhels):
 

USDA

Nov 11
Avg Est
Range

USDA

Oct 11
USDA 10/11
Corn
0.843
0.795
0.692-0.900
0.866
1.128
Beans
0.195
0.182
0.150-0.254
0.160
0.215
Wheat
0.828
0.817
0.653-0.891
0.873
0.861
World Ending Stock Estimates 2011/12 (MMT):
 

USDA

Nov 11
Avg Est
Range

USDA

Oct 11
USDA 10/11
Corn
121.6
122.378
120.0-126.0
123.2
124.30
Beans
63.6
63.634
62.60-65.60
63.0
68.82
Wheat
202.6
201.562
195.0-204.4
202.4
193.34