Pro Farmer Editors: Grain Stocks Surprise

March 31, 2011 04:04 AM

Note: Pro Farmer Members can see Pro Farmer's full report reaction on the Pro Farmer web site at this link. To become a member, call 1-800-772-0023 for more information.

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


  • CORN: 92.178 mil. acres; trade expected 91.662 mil. acres  

       -- compares to 88.192 mil. acres in 2010  

  • SOYBEANS: 76.609 mil. acres; traders expected 76.969 mil. acres  

       -- compares to 77.404 mil. acres in 2010 

  • ALL WHEAT: 58.021 mil. acres; traders expected 57.302 mil. acres  

       -- compares to 53.603 mil. acres in 2010 

  • SPRING WHEAT: 14.427 mil. acres; traders expected 13.710 mil. acres  

       -- compares to 13.698 mil. acres in 2010  

  • DURUM WHEAT: 2.365 mil. acres; traders expected 2.552 mil. acres  

       -- compares to 2.57 mil. acres in 2010  

  • COTTON: 12.565 mil. acres; traders expected 13.120 mil. acres  

       -- compares to 10.973 mil. acres in 2010  


  • CORN: 6.52 billion bu.; traders expected 6.701 billion bu.  

        -- compares to 10.040 bil. bu. Dec. 1; 7.694 bil. bu. Mar. 1, 2010

  • SOYBEANS: 1.25 billion bu; traders expected 1.295 billion bu.  

      -- compares to 2.277 bil. bu. Dec. 1; 1.270 bil. bu. Mar. 1, 2010

  • WHEAT: 1.42 billion bu.; traders expected 1.399 billion bu.  

      -- compares to 1.928 bil. bu. Dec. 1; 1.356 bil. bu. Mar. 1, 2010  


Based on this morning's USDA Prospective Plantings and Quarterly Grain Stocks Reports, traders are looking for corn and soybeans to open sharply higher to limit up. Wheat futures are called to open 5 to 10 cents higher, but won't be left behind in a major move higher in corn and soybeans. Adding support to the reports this morning is a very impressive Weekly Export Sales Report for corn.



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Spell Check

4/1/2011 06:23 AM

  lets plant a little less and keep the price where it is now , if we have a good crop, doont cry if the price goes to 4.00 or less


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