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 |
|
See Comments
