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Hedging Corn and Soybeans

RSS By: Howard Tyllas, AgWeb.com

Howard Tyllas is currently a member of the Chicago Board of Trade and registered with the Commodity Futures Trading Commission as a floor broker and as a Commodity Trading Advisor.

WASDE Report 9/30/11

Sep 30, 2011

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Corn Stocks Down 34 Percent from September 2010
Soybean Stocks Up 42 Percent
All Wheat Stocks Down 12 Percent

Old crop corn stocks in all positions on September 1, 2011 totaled 1.13 billion bushels, down 34 percent from September 1, 2010. Of the total stocks, 315 million bushels are stored on farms, down 35 percent from a year earlier. Off-farm stocks, at 813 million bushels, are down 33 percent from a year ago. The June - August 2011 indicated disappearance is 2.54 billion bushels, compared with 2.60 billion bushels during the same period last year.

Old crop soybeans stored in all positions on September 1, 2011 totaled 215 million bushels, up 42 percent from September 1, 2010. Soybean stocks stored on farms totaled 48.5 million bushels, up 37 percent from a year ago. Off-farm stocks, at 166 million bushels, are up 44 percent from last September. Indicated disappearance for June - August 2011 totaled 405 million bushels, down 4 percent from the same period a year earlier.

Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2010 soybean production is revised down fractionally from the previous estimate. Harvested area is revised down 6,000 acres. A table with 2010 acreage, yield, and production estimates by State is included on page 17 of this report.

All wheat stored in all positions on September 1, 2011 totaled 2.15 billion bushels, down 12 percent from a year ago. On-farm stocks are estimated at 642 million bushels, down 21 percent from last September. Off-farm stocks, at 1.51 billion bushels, are down 8 percent from a year ago. The June - August 2011 indicated disappearance is 720 million bushels, down 2 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2011 totaled 65.2 million bushels, down 35 percent from a year ago. On-farm stocks, at 36.4 million bushels, are down 49 percent from September 1, 2010. Off-farm stocks totaled 28.8 million bushels, down slightly from a year ago. The June - August 2011 indicated disappearance of 22.1 million bushels is down 45 percent from the same period a year earlier.

Picture report 9-30-11

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Howard Tyllas

Tel.1-312-573-2699, 1-312-823-9189

Disclaimer: No guarantee of any kind is implied or possible where projections of future conditions are tempted. Futures trading involve risk.In no event should the content of this be construed as an express or implied romise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.

 

 

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