Agricultural News
USDA releases the latest U.S. and World Ending Stocks and Production Estimates numbers.
Thu, 11 Oct 2012 08:10:27 CDT
USDA released the latest Ending Stocks and Production Estimates this morning, October 11, 2012, for both U.S. and World.
As far as Production numbers, the corn crop came in at 10.706 billion, quite a bit higher than what the trade was expecting. However, corn yield came in lower at 122 bushels per acre, lower than last month and lower than what the trade was expecting.
The soybean crop came in larger than expected at 2.86 billion bushels with a yield of 37.8, both those numbers well above expections and last month's report.
As far as Ending Stocks, the corn came in much lower than expected at 619 billion. The soybeans numbers were also lower than expected as far as the early estimates at 130 million bushels. However, that number is higher than a month ago.
Wheat showed lower numbers than September, but well above what the trade was looking for at 654 million bushels.
Overall, the report is looked on as friendly to the market and Tom Leffler of Leffler Commodities has a complete analysis of this morning's USDA crop numbers.
You can hear Tom by clicking on the listening bar below.
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