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Grain Hedge

RSS By: Brock Schimbeno, AgWeb.com

Grain Hedge is a self-directed discount brokerage that saves farmers money when trading in the futures and options market. For $7 commissions per side producers can execute their marketing strategy with authority, any time the markets trade.

USDA Report Analysis and Numbers

Apr 10, 2013
We just got the April USDA report and at the moment we see old crop corn up 1 cent, soybeans off 2 cents, and wheat down 10 1/2. Below are USDA projections for US Ending stocks
 
US Ending Stock Reported (Million Bushels)
 
 
April
Estimated
March
Corn 757
812
632
Soybeans 125
136
125
Wheat
731
727
716
 

 

 

 

 

 

 

 

Corn ending stocks were the big number coming into this report, and as you can see the reported number came in below average trade estimates. Feed and residual were lowered 150 million bushels (MB), ethanol usage was raised 50 MB, and exports were lowered 25 MB. On net 125 MB were added to 12/13 ending stocks.

The USDA left Soybean ending stocks unchanged but did adjust the balance sheet. 20 MB were added to crushings and 5 MB added to exports. Counter acting this was 25 million reduced from expected residual use.

Wheat saw ending stocks come in slightly higher than trade estimates, with 15 MB added to projected ending stocks. Driving this change was 15 MB reduced from expected feed and residual use.

Below is audio commentary of today's numbers and analysis of what this means for the grain market moving forward: AUDIO COMMENTARY

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