Allendale's March Production, Ending Stocks Estimates

March 4, 2011 03:09 AM
 

Corn – U.S. ending stocks will now have declined in nine of the past ten months. Higher ethanol usage is the driver behind this month's decline. Argentine corn production is lowered by 0.5 million tonnes to 21.5. Brazil production is left unchanged at 51 mt. 

Soybeans - Domestic crush has been weak for months. This month we have slight concern over exports. We expect USDA to keep Argentine soybean production unchanged at 49.5 million tonnes. Brazil production is increased 0.5 million tonnes to 69.0.
 
Wheat - Strong export sales will overcome a slight decline in food use.
   
      Supply & Demand, to be RELEASED 7:30 AM CST ON 03/10/11
US ENDING STOCKS USDA-Feb USDA-Feb ALDL Actual
million bushels 09/10 10/11 10/11 03/10/11
US Corn 1708 675 650  
US Beans 151 140 181  
US Wheat 976 818 773  
 
 
WORLD ENDING STOCKS USDA-Feb USDA-Feb ALDL Actual
million metric tonnes 09/10 10/11 10/11 03/10/11
World Corn 145.16 122.51 121.95  
World Soybeans 60.17 58.21 59.77  
World Wheat 197.60 177.77 176.95  
 

 

 

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