Home / Markets / Markets Analysis / USDA data seen as neutral to grain markets

USDA data seen as neutral to grain markets

Agriculture.com Staff 12/10/2009 @ 6:45am

CHICAGO, Illinois (Agriculture Online)--The USDA released neutral data in its December Supply/Demand report Thursday.

The early calls for Thursday's open are corn and soybeans down 1-2 -to up 1-2 cents, and wheat down 1-2 cents.

"The Weekly Export Sales report, released at the same time of the Supply/Demand report, indicated good numbers. So, we'll look to the outside markets and overnight trading for direction," one CBOT floor trader says.

The USDA estimated the 2009-10 corn carryout at 1.675 billion bushels, above the trade estimate of 1.646 billion bushels, and above the government's November estimate of 1.625.

For soybeans, the USDA's 2009-10 carryout estimate is 255 million bushels, above the average trade estimate of 235 million bushels and below the USDA's November estimate of 270 million. The soyoil carryout was left unchanged at 2.307 billion pounds. Also, soymeal carryout was left unchanged at 300,000 metric tons

In its report, the USDA estimated the U.S. 2009-10 wheat carryout at 900 million bushels, compared to the average trade estimate of 886 million bushels and the government's previous estimate of 885 million.

In world numbers, USDA increased its wheat carryover from 188.3 million metric tons to 190.9. The world soybean carryover dropped slightly from 57.39 million metric tons in the USDA November report to 57.09.

CHICAGO, Illinois (Agriculture Online)--The USDA released neutral data in its December Supply/Demand report Thursday.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

Farm and ranch risk management resources By: 07/07/2010 @ 9:10am Government resources USDA Risk Management Agency Download free insurance program and…

Major types of crop insurance policies By: 07/07/2010 @ 9:10am Crop insurance for major field crops comes in two types: yield-based coverage that pays an…

Marketing 101 - Are options the right tool… By: 07/07/2010 @ 9:10am "If you are looking for a low risk way to protect yourself against prices moving either higher or…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Soil Health at Farm Science Review