USDA Expectations
If they can make it in through the heavy snow that fell over the weekend the USDA will release their latest stocks and world supply and demand numbers at 13.30 GMT. Monday's export inspections report was not issued due to the snow, that is now rescheduled for release this afternoon too. Here's a note of what the trade is expecting from the stocks report, plus my estimate:
And here is a note of what the USDA had to say on world production/stocks last month, along with my guess on what they might say today:
US Ending Stocks (billion bushels)
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Avg Guess Range Jan Nogger
Corn 1.748 1.602-1.815 1.764 1.770
Soybeans 0.219 0.170-0.245 0.245 0.225
Wheat 0.973 0.876-1.001 0.976 0.985
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And here is a note of what the USDA had to say on world production/stocks last month, along with my guess on what they might say today:
World Ending Stocks (MMT) USDA Jan Nogger
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Corn 136.19 138.0
Wheat 195.60 197.0
Soybeans 59.80 60.5
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World Production (MMT)
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Brazil soybeans 65.0 65.0
Argy soybeans 53.0 53.0
Brazil corn 51.0 52.0
Argy corn 15.0 17.0
Australia wheat 22.5 22.2
Canada wheat 26.5 26.5
Russia wheat 61.7 61.7
