Agricultural News
USDA releases the latest Ending Stocks and revised Production Estimates and it could be friendly to the markets.
Tue, 12 Jul 2011 08:25:14 CDT
The USDA released it's latest crop numbers Tuesday morning, including Supply and Demand numbers, Ending Stocks and revised Production numbers from June.
The ending stocks for corn came in lower than expected, soybeans were a little higher than expected both in old and new crop. Wheat was also a little lower than what the trade was expecting. Currentlly, the ending stock numbers are looked on as friendly for the market.
The revised wheat production numbers (from June) were all slightly higher than previously seen. As far as the corn crop, USDA left the yield unchanged but the production was raised, a record corn production.
Overall, the USDA numbers are looked on as positive for the grain markets but outside market influence is still a huge factor.
To see the USDA Crop Production numbers, click on the following link: USDA Crop Production
You can hear Market Analyst Tom Leffler discuss the latest USDA reports by clicking on the listening bar below.
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