Home / News / Crops news / Big bear numbers

Big bear numbers

Jeff Caldwell 06/30/2011 @ 7:42am Multimedia Editor for Agriculture.com and Successful Farming magazine.

The numbers are in, and the word of the day, at least to start the day's CME Group grain trade, is BEARISH.

USDA's grain stocks numbers came in higher for corn, soybeans and wheat Thursday morning. For corn, USDA estimates we have 3.671 billion bushels on hand. The trade expected around 3.3 billion bushels. For soybeans, though the trade expected around 592 million bushels, USDA guessed 619 million bushels. For wheat, USDA pegged stocks at 861 million bushels, while the average trade estimate was 823 million bushels.

"The report says guys are holding soybeans," said Agriculture.com Marketing Talk member jec22 just minutes after the numbers' release. 

Also released Thursday morning, USDA pegged corn planted acreage 5% higher than a year ago at 92.3 million acres, while soybean acres are down 3% at 75.2 million. Wheat and cotton acres are seen higher this year as well, at 5% and 25% higher respectively.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

3 Things to Watch This Morning: Friday… By: 11/21/2014 @ 6:34am Weekend weather shift on the way.Though some of it's melted in the last few days, there is…

President Obama Lays Out Immigration Reform… By: 11/20/2014 @ 8:25pm In his address to the nation focusing on steps moving forward on federal immigration policy…

Immigration and Farm Labor Changes Ahead? By: 11/20/2014 @ 12:26pm Whether your farm or ranch depends directly on immigrant labor or not, chances are high that…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Craftsman Two-in-One