Sunday, September 13, 2009

USDA Supply Demand corn and soybean

USDA supply demand reported on 11 Sept 2009:
Corn 09/10:
  • Procution= 344.8 M.Tons (from aug = 339.6 M.Tons, 08/09 = 325.9 M.Tons)
  • Yield = 3.81 T./Acre (from aug = 3.75 T./Acre, 08/09 = 3.58 T./Acre)
  • Domestic use = 289.2 M.Tons (from aug = 287.9 M.Tons, 08/09 = 275.7 M.Tons)
  • Export = 59.8 M.Tons (from aug = 57.3 M.Tons, 08/09 = 51 M.Tons)
  • Ending stock = 45.6 M.Tons (from aug = 45.3 M.Tons, 08/09 = 47.2 M.Tons)
  • Average farm prices = 3.05-3.65 $/Bu. (from aug = 3.1-3.9 $/Bu. , 08/09 = 4.08 $/Bu. )
Soybean 09/10:
  • Procution= 3,245 M.Bu. (from aug = 3,199 M.Bu, 08/09 = 2,959 M.Bu)
  • Yield = 42.3 Bu./Acre (from aug = 41.7 Bu./Acre, 08/09 = 39.6 Bu./Acre)
  • Crushing = 1,690 M.Bu (from aug = 1,670 M.Bu, 08/09 = 1,660 M.Bu)
  • Export = 1,280 M.Bu (from aug = 1,265 M.Bu, 08/09 = 1,280 M.Bu)
  • Ending stock = 220 M.Bu (from aug = 210 M.Bu, 08/09 = 110 M.Bu)
  • Average farm prices = 8.1-10.1 $/Bu. (from aug = 8.4-10.4 $/Bu. , 08/09 = 10 $/Bu. )

My commentay: corn and soybean production increasing, bearish for corn and soybean prices

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