Trade Readies for March 2013 USDA Reports

March 6, 2013 05:32 AM
 

 

Following are pre-report trade expectations ahead of the March 8 USDA Supply and Demand Report, to be released at 11:00 a.m. CT:

2012-13 carryover

Avg.

Range

USDA Feb.

2011-12

in billion bushels

Corn

0.649

0.627-0.750

0.632

0.989

Soybeans

0.122

0.107-0.131

0.125

0.169

Wheat

0.713

0.671-0.754

0.691

0.743

Cotton (mil. bales)

4.40

4.10-4.80

4.50

3.40

Pre-report expectations compiled by Dow Jones newswire.


Juli says: USDA's March Supply & Demand typically doesn't bring any big changes -- only fine-tuning to demand numbers. But given the lackluster pace of corn and wheat exports, traders look for USDA to raise carryover slightly, while the risk to soybean carryover is to the downside and tightening the figure slightly given strong ongoing export demand.

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