The USDA Numbers

Posted by Nogger - a legend in his own mind at 13:32 | Categorized as

30/06/11 -- The USDA numbers are out and no surprises for guessing that they've thrown in a curved ball or two again this afternoon. The corn market has moved limit or near limit on each of the past three years on the day of this report, and it looks like it may do the same again today with corn plantings pegged at 92.3 millin acres, 1.6 million up on their previous forecast and 0.8 million higher than even the highest trade estimate.

For good measure June 1st corn ending stocks were higher than anticipated at 3.67 billion bushels, which again was higher than even the highest trade estimate.

Here's the numbers, Plantings:































Mln Acres
USDA
Avg Est
Range
USDA Prev
All Wheat
56.4
56.67
55.00-57.60
57.70
Corn
92.3
90.77
89.50-91.50
90.70
Beans
75.2
76.53
75.50-77.19
76.61


June 1st Stocks:































Bln bushels
USDA
Avg Est
Range
USDA Jun10
Wheat
0.861
0.826
0.791-0.878
0.973
Corn
3.670
3.302
2.998-3.515
4.310
Beans
0.619
0.596
0.549-0.632
0.571