Traders Prepare for Barrage of January Reports

January 11, 2012 03:15 AM
 

 Following are expectations for USDA's Jan. 12 reports to be released at 7:30 a.m., CT:

 

 

Annual Crop Production

Avg.

Range

USDA latest

USDA 2010

in billion bushels

Corn

12.280

12.170-12.375

12.310

12.447

Soybeans

3.042

3.010-3.080

3.046

3.329

Cotton (mil. bales)

15.640

15.360-15.830

15.830

18.100

 

2011-12 carryover

Avg.

Range

USDA Dec.

2010-11

in billion bushels

Corn

0.753

0.587-1.020

0.848

1.128

Soybean

0.227

0.127-0.285

0.230

0.215

Wheat

0.831

0.753-0.885

0.878

0.862

Cotton (mil. bales)

3.380

2.800-3.850

3.500

2.600

 

Winter Wheat Seedings

Avg.

Range

2011

in million acres

All winter

41.0

39.6-42.9

40.7

HRW

29.6

28.5-31.6

28.5

SRW

7.7

6.4-8.6

8.7

White

3.7

3.6-3.9

3.7

 

Dec. 1 Grain Stock

Avg.

Range

Sept. 1, 2011

Dec. 1, 2010

in billion bushels

Corn

9.401

9.200-9.700

1.128

10.057

Soybeans

2.312

2.227-2.577

0.215

2.278

Wheat

1.679

1.560-1.904

2.150

1.933

 


Juli says: The reports will help set the market's tone as it debates 2012 acreage in the weeks and months ahead. Traders expect Thursday's report to be the most supportive for the corn market, as they expect USDA to cut carryover further.

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