Trade Readies for November USDA Reports

November 8, 2011 12:13 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:

2011-12 carryover

Avg.

Range

USDA Oct.

2010-11

in billion bushels

Corn

0.801

0.673-0.900

0.866

1.128

Soybeans

0.185

0.150-0.254

0.160

0.215

Wheat

0.819

0.653-0.891

0.837

0.861

Cotton (mil. bales)

3.90

3.40-4.20

3.90

2.60

 

Crop Production

Avg.

Range

Oct.

2010

in billion bushels

Corn

12.402

12.159-12.549

12.433

12.447

Soybeans

3.059

2.975-3.110

3.060

3.329

Cotton (mil. bales)
16.40

16.10-16.60

16.608

18.10

Pre-report expectations compiled by Dow Jones newswire.


Juli says: Traders expect USDA to tighten corn carryover from last month as large sales made to China were announced after the October report was released. And, a slowdown in soybean export sales has traders looking for an increase in soybean carryover from last month.

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