Traders Prepare for USDA's May Reports

May 9, 2012 12:08 AM
 

Following are pre-report trade expectations ahead of the May 10 USDA Supply and Demand and Crop Production Reports, to be released at 7:30 a.m. CT.

2011-12 carryover

Avg.

Range

USDA April

2010-11

in billion bushels

Corn

0.758

0.660-0.801

0.801

1.128

Soybeans

0.221

0.200-0.250

0.250

0.215

Wheat

0.781

0.756-0.800

0.793

0.862

 

2012-13 carryover

Avg.

Range

in billion bushels

Corn

1.704

1.209-2.072

Soybeans

0.170

0.100-0.250

Wheat

0.805

0.609-0.963

 

Wheat Production

Avg.

Range

2011

in billion bushels

All wheat

2.196

2.054-2.282

1.999

All winter

1.634

1.499-1.707

1.494

HRW

0.990

0.880-1.068

0.780

SRW

0.413

0.307-0.454

0.458

White winter

0.231

0.214-0.267

0.256

Pre-report expectations compiled by Dow Jones newswire.


Juli says: Traders look for USDA to trim U.S. 2011-12 corn, soybean and wheat carryover projections from last month. USDA will also issue the first "official" look at the 2012-13 balance sheets, which are expected to reveal further tightening of soybean carryover from the current season, while corn carryover is set to post a strong rebound.

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