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Standard Grain

RSS By: Joe Vaclavik

Joseph Vaclavik is the president at Standard Grain in Chicago. Standard Grain provides futures and options brokerage to farms, feedlots, elevators, processors, end-users and traders. Visit www.standardgrain.com for more information.

 

Simple USDA Report Summary

Mar 09, 2012

 

**Corn:  USDA leaves domestic balance sheet totally unchanged from Feb; World carryout down to 124.53mmt vs. 125.35/Feb, analysts expected 123.46mmt; Argentina production left unchanged at 22.0mmt, Brazil production increased to 62.0mmt from 61.0/Feb
                -Corn neutral to slightly bearish
 
**Soybeans:  USDA leaves domestic balance sheet totally unchanged from Feb; World carryout down to 57.3mmt from 60.28/Feb, analysts expected 57.76mmt; Argentina production lowered to 46.5mmt from 48.0/Feb; Brazil production lowered to 68.5mmt from 72.0/Feb
                -Neutral to slightly friendly
 
**Wheat:  USDA lowering domestic carryout to 825mil/bu from 845/Feb; 25mil/bu increase in exports and 5mil/bu reduction in food usage; World wheat carryout dropping to 209.58mmt from 213.10/Feb, analysts expected 212.6mmt
                -Slightly friendly on reductions in both world and domestic carryout, both of which were below analysts expectations
 
 
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