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AgDay Daily Recap -May 12, 2014

May 12, 2014
 
 

TODAY ON AGDAY

MAY 12, 2014

 

USDA REPORT:

GOOD MORNING I'M CLINTON GRIFFITHS. WE BEGIN A NEW WEEK WITH PLANTING PROGRESS STILL BEHIND IN MANY PARTS OF THE COUNTRY. BUT DESPITE DELAYS, THE AG DEPARTMENT KEEPS YIELD POTENTIAL THE SAME FOR THE NATION'S CORN CROP.

CORN AND BEAN:

FIRST WE'LL LOOK AT CROP PRODUCTION. USDA IS FORECASTING THE CORN CROP TO COME IN AT 13.9 BILLION BUSHELS. THAT'S BASED ON AN  AVERAGE YIELD OF 165.3 BUSHELS PER ACRE. NEW CROP SOYBEAN PRODUCTION IS ESTIMATED TO HIT 3.6 BILLION BUSHELS. THAT WOULD BE A RECORD IF IT PROVES TRUE. USDA PUTS NATIONAL SOYBEAN YIELD AT JUST OVER 45 BUSHELS AN ACRE.

ENDING STOCKS:

IN ITS FIRST SUPPLY-AND-DEMAND ESTIMATES FOR THIS NEW CROP YEAR, USDA PEGGED 2014-15 CORN ENDING STOCKS AT ONE-POINT-SEVEN BILLION BUSHELS AND SOYBEAN ENDING STOCKS AT 330 MILLION BUSHELS. AS ALWAYS OUR PARTNERS AT PROFARMER NEWSLETTER SCRUTINIZED THE GOVERNMENT REPORTS. EDITOR BRIAN GRETE JOINS US FROM PROFARMER STUDIOS WITH HIS TAKE ON THE SOYBEAN MARKET, BRIAN.

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