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February WASDE Reports Coverage

February 9, 2012
 
 

See all of the report data, coverage and analysis of today's World Agricultural Supply and Demand Estimates.

News and Analysis

AgWeb Radio: Opening Commentary

Mike Howlett of Top Third Ag Marketing with a summary of the USDA Report. At open today expect: Corn down 5-7, Beans down 0-2, and Wheat down 0-2.

AgWeb Radio: Midday Commentary 2-9-12

Bob Utterback of Utterback Marketing comments on market reaction to the USDA report.

Crops Suggest 'Exciting Bean Market'

A smaller soybean crop in South America and more U.S. acres going to wheat and corn should make for an interesting soybean market this year.

AgWeb Radio: Closing Commentary 2-9-12

Nate Smith of the Gulke Grouop said basically the report was neutral. Markets moved up early in the day and beans saw a new high. Corn also was firm but all closed lower for the day. China has inflation problems. Ethanol stocks are high.

 

Reports

The projected range for the season-average farm corn price is narrowed 10 cents on both ends of the range to $5.80 to $6.60 per bushel.
 
 
Exports are raised 25 million bushels supported by the stronger-than-expected pace of sales and shipments.
 
Global oilseed production for 2011/12 is projected at 452.5 million tons, down 4.9 million tons from last month.

With no change in the production estimate, the total cotton supply is unchanged.

The 2012 forecast of total red meat and poultry production is raised from last month, largely reflecting increased pork production.

 

No changes are made on the supply side of the U.S. 2011/12 rice supply and use balance sheet.

 


 

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