Traders Prepare for USDA June 2013 Reports

June 26, 2013 03:50 AM
 

Following are pre-report trade expectations ahead of the June 28 USDA Acreage Report. Reports will be released at 11:00 a.m. CT. Traders look for USDA to trim its planted corn and spring wheat acreage estimates from the March intentions data, while soybean acreage is expected to rise slightly.

Acreage

Avg.

Range

March 30

2012

in million acres

Corn

95.340
94.2-96.4
97.282
97.155

Soybeans

78.024
77.10-79.24
77.126
77.198

Spring wheat

12.117
11.70-12.70
12.701
12.289

Durum

1.657
1.55-1.80
1.751
2.123

All wheat

55.751
55.20-56.4
56.440
55.736

While a lot of attention is being put on the acreage expectations, Grain Stocks Reports in the past have been the major market movers. Given the tight old-crop corn and soybean stocks situation, the possibility of the stocks data moving the market are high. The report will set 2012-13 wheat carryover as the new marketing year began June 1.

Grain Stock Expectations

Avg.

Range

Mar. 1, 2013

June 1, 2012

in billion bushels

Corn

2.856

2.761-3.000

5.399

3.148

Soybeans

0.441

0.413-0.490

0.999

0.667

Wheat

0.750

0.732-0.781

1.234

0.743

 

Pre-report expectations compiled by Dow Jones newswire.


 

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