Agricultural News
USDA's latest Crop Production numbers look friendly for the market
Thu, 11 Aug 2011 08:04:11 CDT
This morning, USDA released the latest Crop Production report showing wheat, corn and soybeans all coming in with lower numbers than expected.
The corn crop is pegged at 12.914 billion bushels and also lowered the yield number to 153 bushels per acre, both numbers much lower than what the trade was expecting.
The soybean crop also came in lower at 3.056 billion and a yield of 41.4 bushels per acre.
The new crop ending stocks also came in lower for the corn and soybeans but all wheat came in as expected. This morning's numbers look friendly for the markets today, however, a lot could depend on outside market influence such as the DOW.
You can hear Tom Leffler of Leffler Commodities break down this morning's numbers with his analysis of the report, by clicking on the listening bar below.
Tom Leffler of Leffler Commodities analysis of the latest USDA Crop numbers
right-click to download mp3
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