The USDA Numbers
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:
June 1st Stocks:
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 |