See all of the report data, coverage and analysis of today’s World Agricultural Supply and Demand Estimates.
News and Analysis
AgWeb Radio: Opening Commentary
Mike Howlett of Top Third Ag Marketing with a summary of the USDA Report. At open today expect: Corn down 5-7, Beans down 0-2, and Wheat down 0-2.
AgWeb Radio: Midday Commentary 2-9-12
Bob Utterback of Utterback Marketing comments on market reaction to the USDA report.
Crops Suggest ‘Exciting Bean Market’
A smaller soybean crop in South America and more U.S. acres going to wheat and corn should make for an interesting soybean market this year.
AgWeb Radio: Closing Commentary 2-9-12
Nate Smith of the Gulke Grouop said basically the report was neutral. Markets moved up early in the day and beans saw a new high. Corn also was firm but all closed lower for the day. China has inflation problems. Ethanol stocks are high.
Reports
WASDE: Projected Corn Price $5.80 to $6.60/bu.
The projected range for the season-average farm corn price is narrowed 10 cents on both ends of the range to $5.80 to $6.60 per bushel.
WASDE: Wheat Exports Up
Exports are raised 25 million bushels supported by the stronger-than-expected pace of sales and shipments.
WASDE: Global Oilseed Production Down
Global oilseed production for 2011/12 is projected at 452.5 million tons, down 4.9 million tons from last month.
WASDE: Cotton Supply Unchanged
With no change in the production estimate, the total cotton supply is unchanged.
WASDE: Total Meat Production Forecast Lowered
The 2012 forecast of total red meat and poultry production is raised from last month, largely reflecting increased pork production.
WASDE: Export Forecast Lowered for Rice
No changes are made on the supply side of the U.S. 2011/12 rice supply and use balance sheet.
