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Agricultural News

USDA pegs Corn Crop Under Thirteen Billion Bushels in Latest Report

Thu, 11 Aug 2011 08:42:56 CDT

On Thursday 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.


Be watching later this morning for a complete rundown of the projected size of the 2011 Oklahoma crops from this report.


Click here for the full report from the USDA and NASS on the August first crop numbers.


Click here for the USDA World Agricultural Supply and Demand Estimates as released Thursday morning.


You can hear Tom Leffler of Leffler Commodities break down this morning's numbers with his analysis of the report, by clicking on the listen bar below.



   

Tom Leffler of Leffler Commodities analysis of the latest USDA Crop numbers right-click to download mp3

 

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