Allendale Inc. Sees Higher Ending Stocks on Upcoming USDA ReportThu, 04 Feb 2016 11:19:47 CST
Allendale, Inc. a Chicago area agricultural commodity brokerage and analysis firm raises ending stocks estimates for the upcoming USDA World Agricultural Supply and Demand Estimates Report due February 9, 2016 at 11:00 CST. Full estimates follow.
Corn - No production changes will be made on this report. Lower exports are seen offsetting stronger domestic usage. Our 1.812 billion ending stock estimate would be the largest ending stock since 2005/06. It would be the largest monthly supply/demand estimate since June. We see USDA holding its Brazil and Argentina production unchanged.
Soybeans - No production changes will be made on this report. Lower crush is expected to be recognized by USDA. Our 466 million ending stock estimate is the largest since 2006/07. For the monthly reports, not the actual ending stock, it would be the largest since August. We see USDA holding its Brazil and Argentina production unchanged.
Wheat - Lower exports are seen raising the stock estimate. Our 954 estimate for this report is the ending stock 2009/10.
Report results, including initial video reaction as well as full report commentary will be posted here following the report.
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