The Magic Numbers
12/01/11 -- The USDA's eagerly awaited raft of important numbers including US winter wheat plantings, revised 2010 production numbers for corn and beans, quarterly stocks and 2010/11 ending stocks estimates look pretty bullish across the board:USDA 2010/11 Ending Stocks Estimates (billion bushels):
| Product | USDA | Avg Est | Range | USDA Dec Est | USDA 09/10 | |
| Wheat | 0.818 | 0.842 | 0.733-0.923 | 0.858 | 0.976 | |
| Corn | 0.745 | 0.778 | 0.681-0.884 | 0.832 | 1.708 | |
| Beans | 0.140 | 0.158 | 0.113-0.200 | 0.165 | 0.151 |
USDA Quarterly Stocks Estimates (billion bushels):
| Product | USDA | Avg Est | Range | Year Ago | |
| Wheat | 1.928 | 1.938 | 1.840-2.032 | 1.782 | |
| Corn | 10.040 | 10.067 | 9.132-10.410 | 10.902 | |
| Beans | 2.277 | 2.345 | 2.258-2.410 | 2.339 |
USDA 2010 Production Estimates (billion bushels):
| Product | USDA | Avg Est | Range | USDA Dec Est | USDA 09 | |
| Corn | 12.447 | 12.491 | 12.300-12.616 | 12.540 | 13.110 | |
| Beans | 3.329 | 3.376 | 3.280-3.420 | 3.375 | 3.359 |
USDA 2010 Yield Estimates (bushels/acre):
| Product | USDA | Avg Est | Range | USDA Dec Est | USDA 09 | |
| Corn | 152.8 | 153.9 | 153.0-154.8 | 154.3 | 164.7 | |
| Beans | 43.5 | 44.0 | 43.5-44.6 | 43.9 | 44.0 |
USDA 2011 Crop Winter Wheat Acres (million acres):
| Product | USDA | Avg Est | Range | USDA 2010 |
| All Wheat | 40.99 | 41.219 | 39.377-43.200 | 37.335 |
| HRW | 29.60 | 30.241 | 28.900-31.138 | 28.553 |
| SRW | 7.76 | 7.281 | 6.232-8.523 | 5.274 |
| White Wheat | 3.66 | 3.545 | 2.986-3.700 | 3.508 |
