Trade Readies for August USDA Reports

August 8, 2012 04:40 AM
 

Following are pre-report trade expectations ahead of the August 10 USDA Supply and Demand and Crop Production Reports, to be released at 7:30 a.m. CT:

 

2011-12 carryover

Avg.

Range

July

2010-11

in billion bushels

Corn

0.945

0.750-1.183

0.903

1.128

Soybeans

0.157

0.138-0.200

0.170

0.215

 

2012-13 carryover

Avg.

Range

USDA July

in billion bushels

Corn

0.651

0.400-0.850

1.183

Soybeans

0.115

0.095-0.140

0.130

Wheat

0.681

0.600-0.718

0.664

 

Crop Production

Avg.

Range

Aug.

2011

in billion bushels

Corn

10.971

9.860-11.750

12.970

12.358

Soybeans

2.786

2.400-2.925

3.050

3.056

All wheat

2.220

2.112-2.294

2.224

1.999

All winter wheat

1.665

1.610-1.707

1.670

1.494

Other spring wheat
0.488

0.444-0.542

0.472

0.455

Durum
0.084

0.079-0.092

0.082

0.050

Pre-report expectations compiled by Dow Jones newswire.


Juli says: According to the average pre-report guess, traders look for USDA to slash its corn yield by nearly 20 bu. per acre from last month to 126.2 bu. per acre and to trim its soybean yield by around 4 bu. per acre from last month to 37.2 bu. per acre.

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