Trade Readies for February USDA Reports

February 7, 2012 07:27 AM
 

Following are pre-report trade expectations ahead of the February 9 USDA Supply and Demand Report, to be released at 7:30 a.m. CT:

 

 

2011-12 carryover

Avg.

Range

USDA Jan.

2010-11

in billion bushels

Corn

0.797

0.680-0.846

0.846

1.128

Soybeans

0.269

0.245-0.300

0.275

0.215

Wheat

0.868

0.836-0.935

0.870

0.862

Pre-report expectations compiled by Dow Jones newswire.


Juli says: The February S&D Report typically isn't a big market-mover because there are no domestic supply updates, but traders say they wouldn't be surprised if USDA made bigger-than-expected changes to the demand side of the balance sheets given the recent trend of report surprises. Nervousness ahead of the report is resulting in choppy price action.

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