PF Analysts: USDA Cuts Cotton Carryover to Record-Low Level

April 8, 2011 03:40 AM
 

From Pro Farmer

Note: Pro Farmer Members can see Pro Farmer's full report reaction on the Pro Farmer page under "Top Stories." To become a member, call 1-800-772-0023 for more information.

Following is a condensed version of the Pro Farmer report reaction:

 

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

  • CORN: 675 million bu.; unch from Mar. proj. of 675 million bu.
    -- compares to 1.708 billion bu. in 2009-10
  • BEANS: 140 million bu.; unch from Mar. proj. of 140 million bu.
    -- compares to 151 million bu. in 2009-10
  • WHEAT: 839 million bu.; down from Mar. proj. of 843 million bu.
    -- compares to 976 million bu. in 2009-10
  • COTTON: 1.6 million bales; down from Mar. proj. of 1.9 mil. bales
    -- compares to 2.95 million bales in 2009-10

** GLOBAL CARRYOVER **

  • CORN: 122.43 MMT; down from 123.14 MMT in March
    -- 145.80 MMT in 2009-10
  • BEANS: 60.94 MMT; up from 58.33 MMT in March
    -- 58.88 MMT in 2009-10
  • WHEAT: 182.83 MMT; up from 181.90 MMT in March
    -- 197.91 MMT in 2009-10
  • COTTON: 41.55 mil. bales; down from 42.33 mil. bales in March
    -- 43.99 mil. bales in 2009-10

** GLOBAL PRODUCTION HIGHLIGHTS **

  • ARGENTINA BEANS: 49.5 MMT; compares to 49.5 MMT in March
    -- 54.5 MMT in 2009-10
  • BRAZIL BEANS: 72.0 MMT; compares to 70.0 MMT in March
    -- 69.0 MMT in 2009-10
  • ARGENTINA WHEAT: 15.0 MMT; compares to 15.0 MMT in March
    -- 11.0 MMT in 2009-10
  • AUSTRALIA WHEAT: 26.0 MMT; compares to 26.0 MMT in March
    -- 21.92 MMT in 2009-10
  • CHINA WHEAT: 114.5 MMT; compares to 114.5 MMT in March
    -- 115.12 MMT in 2009-10
  • CANADA WHEAT: 23.17 MMT; compares to 23.17 MMT in March
    -- 26.85 MMT in 2009-10
  • EU-27 WHEAT: 136.08 MMT; compares to 136.08 MMT in March
    -- 138.05 MMT in 2009-10
  • RUSSIA WHEAT: 41.51 MMT; compares to 41.50 MMT in March
    -- 61.77 MMT in 2009-10
  • FSU-12 WHEAT: 80.97 MMT; compares to 80.97 MMT in March
    -- 113.93 MMT in 2009-10
  • CHINA CORN: 168.0 MMT; compares to 168.0 MMT in March
    -- 158.0 MMT in 2009-10
  • ARGENTINA CORN: 22.0 MMT; compares to 22.0 MMT in March
    -- 22.8 MMT in 2009-10
  • SOUTH AFRICA CORN: 12.0 MMT; compares to 12.5 MMT in March
    -- 13.42 MMT in 2009-10
  • BRAZIL CORN: 55.0 MMT; compares to 53.0 MMT in March
    -- 56.1 MMT in 2009-10
  • CHINA COTTON: 29.5 mil. bales; compares to 29.5 mil. bales in March
    -- 32.0 mil. bales in 2009-10

 

Copyright 2011 Professional Farmers of America.

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