Pro Farmer Analysts Highlight Key Dec. USDA Data

From Pro Farmer

Note: Pro Farmer Members can see Pro Farmer’s full report reaction on the Pro Farmer page under “Top Stories.” To become a member, call 1-800-772-0023 for more information.

Following is a condensed version of the Pro Farmer report reaction:

** 2010 CROP PRODUCTION **

• COTTON: 18.268 million bales
  -- compares to Nov. est. of 18.418 mil. bales; 12.19 mil. bales in 2009

** 2010-11 U.S. CARRYOVER **

• CORN: 832 million bu.; up from Nov. proj. of 827 million bu.
  -- compares to 1.708 billion bu. in 2009-10
• BEANS: 165 million bu.; down from Nov. proj. of 185 million bu.
  -- compares to 151 million bu. in 2009-10
• WHEAT: 858 million bu.; up from Nov. proj. of 848 million bu.
  -- compares to 973 million bu. in 2009-10
• COTTON: 1.9 million bales; down from Nov. proj. of 2.2 mil. bales
  -- compares to 2.95 million bales in 2009-10

** GLOBAL CARRYOVER **

• CORN: 130.00 MMT; up from 129.16 MMT in Nov.
  -- 147.19 MMT in 2009-10
• BEANS: 60.12 MMT; down from 61.41 MMT in Nov.
  -- 60.41 MMT in 2009-10
• WHEAT: 176.72 MMT; up from 172.51 MMT in Nov.
  -- 196.68 MMT in 2009-10
• COTTON: 43.39 mil. bales; up from 42.2 mil. bales in Nov.
  -- 44.0 mil. bales in 2009-10

** GLOBAL PRODUCTION HIGHLIGHTS **

• ARGENTINA BEANS: 52.0 MMT; compares to 52.0 MMT in Nov.
  -- 54.5 MMT in 2009-10
• BRAZIL BEANS: 67.5 MMT; compares to 67.5 MMT in Nov.
  -- 69.0 MMT in 2009-10
• ARGENTINA WHEAT: 13.5 MMT; compares to 13.5 MMT in Nov.
  -- 10.5 MMT in 2009-10
• AUSTRALIA WHEAT: 25.5 MMT; compares to 24.0 MMT in Nov.
  -- 21.92 MMT in 2009-10
• CHINA WHEAT: 114.5 MMT; compares to 114.5 MMT in Nov.
  - - 115.12 MMT in 2009-10
• CANADA WHEAT: 23.17 MMT; compares to 22.2 MMT in Nov.
  -- 26.85 MMT in 2009-10
• EU-27 WHEAT: 136.23 MMT; compares to 136.26 MMT in Nov.
  -- 138.05 MMT in 2009-10
• RUSSIA WHEAT: 41.5 MMT; compares to 42.0 MMT in Nov.
  -- 61.7 MMT in 2009-10
• FSU-12 WHEAT: 82.63 MMT; compares to 83.03 MMT in Nov.
  -- 113.84 MMT in 2009-10
• CHINA CORN: 168.0 MMT; compares to 168.0 MMT in Nov.
  -- 158.0 MMT in 2009-10
• ARGENTINA CORN: 25.0 MMT; compares to 25.0 MMT in Nov.
  -- 22.5 MMT in 2009-10
• SOUTH AFRICA CORN: 12.5 MMT; compares to 12.5 MMT in Nov.
  -- 13.42 MMT in 2009-10
• BRAZIL CORN: 51.0 MMT; compares to 51.0 MMT in Nov.
  -- 56.1 MMT in 2009-10
• CHINA COTTON: 30.0 mil. bales; compares to 30.0 mil. bales in Nov.
  -- 32.0 mil. bales in 2009-10

Copyright 2010 Professional Farmers of America.