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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.

 

USDA Report Preview

Sep 11, 2012

The USDA will release their September Crop Production report on Wednesday morning at 7:30am CST. The report will provide new supply, demand and production estimates for corn, soybeans, wheat and other crops.

The grain markets have sold off ahead of the report. December corn now sits below $7.80, the lowest levels seen since July. November soybeans traded below the $17 mark on Tuesday, but were able to rebound to close at $17.01 ½. The numbers below indicate the trade’s "average guesses" for tomorrow’s report and will assist traders/producers in dissecting the government’s numbers.

 

 

12/13 Production Sept USDA Avg Guess Range Aug USDA
         
Corn Production   10.38 9.860 - 10.780 10.779
         
Corn Yield   120.6 117.6 - 124.0 123.4
         
Soybean Production   2.657 2.510 - 2.739 2.692
         
Soybean Yield   35.8 34.5 - 36.7 36.1
         
         
         
         
11/12 Ending Stocks Sept USDA Avg Guess Range Aug USDA
         
Corn   1.044 .971 - 1.176 1.021
         
Soybeans   0.134 .125 - .145 0.145
         
         
         
12/13 Ending Stocks Sept USDA Avg Guess Range Aug USDA
         
Corn   0.592 .458 - .658 0.650
         
Soybean   0.109 .087 - .128 0.115
         
Wheat   0.704 .670 - .765 0.698

 

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