What's That Coming Over The Hill, Is It A Monster?

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

24/02/12 -- On the concluding day of their Outlook Forum the USDA have given out some serious food for thought with a 2012 monster US corn crop of a record 14.27 billion bushels, that's 362.5 MMT in English money beating the previous all-time high set in 2009 by 30 MMT. It also represents an increase of 48.5 MMT on output in 2011, or 15.4%.

Soybean production will weigh in at 3.25 billion bushels, they say. That's 88.5 MMT the way we like to say it, 5.3 MMT more than in 2011, an increase of 6.4%.

Wheat production in the US this year will be 2.165 billion bushels, or 58.9 MMT. That's 8.3% more than last year.

As far as stocks are concerned US 2012/13 corn ending stocks are seen more than doubling to 1.616 billion bushels, or 41 MMT.