Trade Readies for November USDA Reports

November 8, 2012 03:02 AM
 

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

 

2012-13 carryover

Avg.

Range

USDA Oct.

2011-12

in billion bushels

Corn

0.635

0.487-0.750

0.619

0.988

Soybeans

0.133

0.115-0.175

0.130

0.169

Wheat

0.666

0.625-0.728

0.654

0.743

Cotton (mil. bales)

5.5

4.0-6.1

5.6

3.4

 

Crop Production

Avg.

Range

Oct.

2011

in billion bushels

Corn

10.629

10.100-10.881

10.706

12.358

Soybeans

2.891

2.720-2.959

2.860

3.094

Cotton (mil. bales)

17.3

17.0-17.5

17.3

15.6

Pre-report expectations compiled by Dow Jones Newswires.


Juli says: Interesting to note is according to pre-report expectations, traders look for USDA to raise the corn yield estimate to 122.1 bu. per acre, from 122 bu. per acre last month. Traders look for USDA to raise the soybean yield estimate to 38.2 bu. per acre, from 37.8 bu. per acre last month.

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