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PF Analysts Highlight Key Data from USDA's Bullish Reports

January 12, 2011
By: Chip Flory, Pro Farmer Pro Farmer Editorial Director
 
 

From Pro Farmer

Roger Bernard

Note: Pro Farmer's full report reaction is on the Pro Farmer page and it's available for Pro Farmer Members only. To become a member, call 1-800-772-0023 for more information.

Following are key figures from this morning's USDA reports:

** 2011 WINTER WHEAT SEEDINGS **

  • ALL WINTER WHEAT: 40.990 mil. acres; traders expected 41.219 mil. ac.
    -- compares to 37.335 mil. acres in 2010
  • HRW: 29.6 mil. acres; traders expected 30.241 mil. acres
    -- compares to 28.553 mil. acres in 2010
  • SRW: 7.76 mil. acres; traders expected 7.281 mil. acres
    -- compares to 5.274 mil. acres in 2010
  • WHITE WINTER: 3.66 mil. acres; traders expected 3.545 mil. acres
    -- compares to 3.508 million acres in 2010

** ANNUAL PRODUCTION SUMMARY **

  • CORN: 12.447 bil. bu.; traders expected 12.491 bil. bu.
    -- compares to 12.540 bil. bu. in Nov. and 13.110 bil. bu. in 2009
  • BEANS: 3.329 bil. bu.; traders expected 3.376 bil. bu.
    -- compares to 3.375 bil. bu. in Nov. and 3.359 bil. bu. in 2009
  • COTTON: 18.315 mil. bales.
    -- compares to 18.268 mil. bales in Dec. and 12.19 mil. bales in 2009

** QUARTERLY GRAIN STOCKS **

  • CORN: 10.040 bil. bu.; traders expected 10.097 bil. bu.
    -- compares to 1.708 bil. bu. Sept. 1; 10.902 bil. bu. Dec. 1, 2009
  • BEANS: 2.277 bil. bu.; traders expected 2.333 bil. bu.
    -- compares to 151 mil. bu. Sept. 1; 2.339 bil. bu. Dec. 1, 2009
  • WHEAT: 1.928 bil. bu.; traders expected 1.937 bil. bu.
    -- compares to 2.459 bil. bu. Sept. 1; 1.782 bil. bu. Dec. 1, 2009

** 2010-11 U.S. CARRYOVER **

  • CORN: 745 million bu.; down from Dec. proj. of 832 million bu.
    -- compares to 1.708 billion bu. in 2009-10
  • BEANS: 140 million bu.; down from Dec. proj. of 165 million bu.
    -- compares to 151 million bu. in 2009-10
  • WHEAT: 818 million bu.; down from Dec. proj. of 858 million bu.
    -- compares to 976 million bu. in 2009-10
  • COTTON: 1.9 million bales; unch from Dec. proj. of 1.9 mil. bales
    -- compares to 2.95 million bales in 2009-10

** 2010-11 GLOBAL CARRYOVER **

  • CORN: 127.0 MMT; down from 130.0 MMT in Dec.
    -- 147.11 MMT in 2009-10
  • BEANS: 58.28 MMT; down from 60.12 MMT in Dec.
    -- 60.23 MMT in 2009-10
  • WHEAT: 177.99 MMT; up from 176.72 MMT in Dec.
    -- 197.43 MMT in 2009-10
  • COTTON: 42.84 mil. bales; down from 43.39 mil. bales in Dec.
    -- 43.85 mil. bales in 2009-10

** GLOBAL PRODUCTION HIGHLIGHTS **

  • ARGENTINA BEANS: 50.5 MMT; compares to 52.0 MMT in Dec.
    -- 54.5 MMT in 2009-10
  • BRAZIL BEANS: 67.5 MMT; compares to 67.5 MMT in Dec.
    -- 69.0 MMT in 2009-10
  • ARGENTINA WHEAT: 14.0 MMT; compares to 13.5 MMT in Dec.
    -- 11.0 MMT in 2009-10
  • AUSTRALIA WHEAT: 25.0 MMT; compares to 25.5 MMT in Dec.
    -- 21.92 MMT in 2009-10
  • CHINA WHEAT: 114.5 MMT; compares to 114.5 MMT in Dec.
    -- 115.12 MMT in 2009-10
  • CANADA WHEAT: 23.17 MMT; compares to 23.17 MMT in Dec.
    -- 26.85 MMT in 2009-10
  • EU-27 WHEAT: 136.53 MMT; compares to 136.23 MMT in Dec.
    -- 138.05 MMT in 2009-10
  • RUSSIA WHEAT: 41.5 MMT; compares to 41.5 MMT in Dec.
    -- 61.7 MMT in 2009-10
  • FSU-12 WHEAT: 81.33 MMT; compares to 82.63 MMT in Dec.
    -- 113.84 MMT in 2009-10
  • CHINA CORN: 168.0 MMT; compares to 168.0 MMT in Dec.
    -- 158.0 MMT in 2009-10
  • ARGENTINA CORN: 23.5 MMT; compares to 25.0 MMT in Dec.
    -- 22.8 MMT in 2009-10
  • SOUTH AFRICA CORN: 12.5 MMT; compares to 12.5 MMT in Dec.
    -- 13.42 MMT in 2009-10
  • BRAZIL CORN: 51.0 MMT; compares to 51.0 MMT in Dec.
    -- 56.1 MMT in 2009-10
  • CHINA COTTON: 30.0 mil. bales; compares to 30.0 mil. bales in Dec.
    -- 32.0 mil. bales in 2009-10

Copyright 2011 Professional Farmers of America. All Rights Reserved. Retransmission or redistribution of contents of this service is strictly prohibited without written permission of Professional Farmers of America.

Sales: 1-800-772-0023
Email: editors@profarmer.com

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RELATED TOPICS: Corn, Crops, Livestock, USDA, Ethanol

 
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COMMENTS (1 Comments)

craig56 - ID
In looking at the winter wheat acres, where are those acres coming from? The 2010 acres totaled 74.67 m. and 2011 totaled 82.01 m. or an increase of 7.34 m. acres for 2011. Are the acres coming from -corn, beans or cotton-I don't think so, maybe the wife's garden or the dirt in the back of the pickup. DC has to try to keep a lid on prices.
12:08 PM Jan 12th
 



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