Agricultural News
USDA releases the latest US and World Production and Ending Stocks numbers for wheat, corn and soybeans.
Wed, 12 Sep 2012 08:24:03 CDT
The USDA has released the latest US and World Production numbers for wheat, corn and soybeans along with the Ending Stocks report. The numbers look negative for corn and neutral for soybeans and wheat. However, the wheat futures are reacting a bit negative after the release of this report.
The corn crop is being estimated by USDA at 10.73 billion bushels which was higher than what the trade was expecting. The yield came in at 122.8 bpa, slightly lower than last month. This was a couple of bushels more than what was expected.
As far as soybean production, it came in at 2.63 billion bushels, a little lower than last month. However, the yield at 35.3 bpa which was what the trade expected.
The ending stocks showed wheat and soybeans were left unchanged from last month. However, the corn was increased by 83 million bushels.
Harvested and planted acres for both soybeans and corn were left unchanged.
You can hear Tom Leffler of Leffler Commodities breaks down the latest USDA numbers by clicking on the listening bar below.
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