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Farms.com Home  › News

USDA: Supply and Demand Estimates Report.

Apr 10, 2012

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USDA has tightened domestic ending stocks projections for soybeans and wheat, while leaving corn unchanged.

USDA pegs wheat ending stocks for the current marketing year at 793 million bushels, down 32 million on the month and 69 million less than this time last year. That’s on an increase to feed and residual use, cancelling out a small decrease in the seed use guess. The average farm price for the current marketing year is estimated at $7.20 to $7.40 per bushel. Corn ending stocks were left steady with last month at 801 million bushels with no changes to the balance sheet. Before the report, analysts were expecting a sizable decrease but the supply is still considerably below last year’s level. The average farm price for corn is estimated at $6 to $6.40 per bushel. Soybean ending stocks were reported at 250 million bushels, down 25 million from a month ago but up 35 million from a year ago. USDA raised the crush and export estimates as expected while making modest cuts to the seed and residual use categories. The average farm price for soybeans is estimated at $12 to $12.50 per bushel. Also, USDA lowered its Argentine corn production estimate a half million tons to 21.5 million and cut beans 1.5 million tons to 45 million, while leaving Brazil corn unchanged at 62 million tons and lowering soybeans 2.5 million tons to 66 million. .

 

 

 

USDA Released the latest WASDE Report, Click the links for the details. 

WASDE: Global Corn Production Unchanged


WASDE: U.S. Soybean Exports Increased


WASDE: Global Rice Production, Consumption Lowered


WASDE: U.S. Wheat Stocks Lowered


WASDE: Total Meat Production Forecast Increased

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