The USDA Numbers
Here they are hot off the press. The Sept 1st stocks report showed soybean reserves of 138 million bushels, still tight but considerably higher than the average trade estimate of 111 million. Corn stocks were lower than expected at 1.674 billion bushels, against an average trade estimate of 1.719 billion. Wheat stocks were a little higher than anticipated at 2.215 billion bushels, versus the average estimate of 2.131 billion.
All wheat production came in pretty much in line with trade ideas of 2.196 billion at 2.220 billion bushels. All winter wheat was 1.523 billion versus pre-report expectations of 1.542 billion. Spring wheat output rose by more than expected from 548 million bushels to 587 million.
There you go, it's tomorrows cyber chip wrappings already.
The number look a tad friendly for corn and a little bearish for beans and wheat.
All wheat production came in pretty much in line with trade ideas of 2.196 billion at 2.220 billion bushels. All winter wheat was 1.523 billion versus pre-report expectations of 1.542 billion. Spring wheat output rose by more than expected from 548 million bushels to 587 million.
There you go, it's tomorrows cyber chip wrappings already.
The number look a tad friendly for corn and a little bearish for beans and wheat.
