Allendale S&D Estimates
Allendale have released their pre-report estimates this week, ahead of the USDA's Wheat S&D report due tomorrow at 13.30BST.
Allendale is expecting all wheat production at 2.426 b bu, down slightly from 2.432 b bu in USDA's latest estimates and below the 2.513 b bu of Informa. Allendale sees winter wheat at 1.815 b bu, near the USDA's guess and below Informa. Other spring wheat is 525 m bu in Allendale's estimate, vs 545 m bu in Informa's.
The USDA won't be providing any crop production updates on corn and beans tomorrow. Those numbers will wait until August.
Allendale, however, have issued revised S&D figures for beans and corn.
Soybean production with them is expected at 2.957 billion bushels, below USDA's previous estimate of 3.105 b bu, and also below that of Informa of 3.019 b bu. Allendale said it is assuming yields at 41.0 bu per acre, slightly below the 41.2 bpa Informa is using and USDA's 41.1.
If realized, Allendale said ending stocks for soybeans for 2008/09 would fall to a scant 100 million bushels, the tightest ending soybean stocks since 1972.
For corn, Allendale is projecting the crop at 11.896 b bu, above USDA's 11.735 b bu but below the 12.002 projected by Informa. Allendale is using corn yield at 150.7 bpa vs Informa's 152 and USDA's 148.9. Corn stocks in 2008/09 would be 480 million bushels, vs 487 m bu projected by USDA in the June WASDE reports.
Allendale is expecting all wheat production at 2.426 b bu, down slightly from 2.432 b bu in USDA's latest estimates and below the 2.513 b bu of Informa. Allendale sees winter wheat at 1.815 b bu, near the USDA's guess and below Informa. Other spring wheat is 525 m bu in Allendale's estimate, vs 545 m bu in Informa's.
The USDA won't be providing any crop production updates on corn and beans tomorrow. Those numbers will wait until August.
Allendale, however, have issued revised S&D figures for beans and corn.
Soybean production with them is expected at 2.957 billion bushels, below USDA's previous estimate of 3.105 b bu, and also below that of Informa of 3.019 b bu. Allendale said it is assuming yields at 41.0 bu per acre, slightly below the 41.2 bpa Informa is using and USDA's 41.1.
If realized, Allendale said ending stocks for soybeans for 2008/09 would fall to a scant 100 million bushels, the tightest ending soybean stocks since 1972.
For corn, Allendale is projecting the crop at 11.896 b bu, above USDA's 11.735 b bu but below the 12.002 projected by Informa. Allendale is using corn yield at 150.7 bpa vs Informa's 152 and USDA's 148.9. Corn stocks in 2008/09 would be 480 million bushels, vs 487 m bu projected by USDA in the June WASDE reports.
