Agricultural News
USDA Grain Stocks numbers look negative for corn, friendly for soybeans, mixed for wheat.
Fri, 30 Sep 2011 07:52:34 CDT
Corn Stocks Down 34 Percent from September 2010
Soybean Stocks Up 42 Percent
All Wheat Stocks Down 12 Percent
In the USDA Grain Stocks and Production numbers this morning (9/30/2011), corn came in lower than expected and was the only "surprise". According to Tom Leffler of Leffler Commodities, the report is negative for that corn market, friendly for the soybeans and mixed news as far as the wheat. You can hear Tom's complete analysis of this morning's USDA Grain numbers by clicking on the listening bar at the bottom of the page.
Old crop corn stocks in all positions on September 1, 2011 totaled 1.13 billion bushels, down 34 percent from September 1, 2010. Of the total stocks, 315 million bushels are stored on farms, down 35 percent from a year earlier. Off-farm stocks, at 813 million bushels, are down 33 percent from a year ago. The June - August 2011 indicated disappearance is 2.54 billion bushels, compared with 2.60 billion bushels during the same period last year. Old crop soybeans stored in all positions on September 1, 2011 totaled 215 million bushels, up 42 percent from September 1, 2010.
Soybean stocks stored on farms totaled 48.5 million bushels, up 37 percent from a year ago. Off-farm stocks, at 166 million bushels, are up 44 percent from last September. Indicated disappearance for June - August 2011 totaled 405 million bushels, down 4 percent from the same period a year earlier. Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2010 soybean production is revised down fractionally from the previous estimate. Harvested area is revised down 6,000 acres. A table with 2010 acreage, yield, and production estimates by State is included on page 17 of this report.
All wheat stored in all positions on September 1, 2011 totaled 2.15 billion bushels, down 12 percent from a year ago. On-farm stocks are estimated at 642 million bushels, down 21 percent from last September. Off-farm stocks, at 1.51 billion bushels, are down 8 percent from a year ago. The June - August 2011 indicated disappearance is 720 million bushels, down 2 percent from the same period a year earlier.
You can view all the numbers from the USDA Grain Stock report this morning by clicking on the following link: Grain Stocks Report
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