Home / News / Crops news / Big USDA Report Friday

Big USDA Report Friday

01/07/2013 @ 1:51pm

This is a big week for the farm markets. On Friday, the USDA will release its January Crop Production and Supply/Demand Reports. Specifically, the market will find out the USDA's final answer on just how much 2012 corn and soybeans the U.S. farmers harvested and just how much grain was on-hand, as of December 1.

With a drought-stricken production season and early harvest, some market watchers believe some of the 2012 crop was used up before the end of the marketing year in September. Therefore, of the five different reports to be released at 11am CST, the USDA's Inventory Forecast, specifically its estimate on December 1 corn stocks, is the number that could determine how the market reacts to Friday's data.

Roy Huckabay, executive vice president at Linn Group, says the USDA has its work cut out for it in determining this week's numbers.



For final 2012 U.S. corn harvested acres, Huckabay is estimating  86.0 million, vs. the USDA's previous estimate of 87.721 million. For soybean acreage, Huckabay sees Friday's report showing 75.9 million soybean acres vs. the USDA's previous estimate of 75.69 million.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Fund Rallies Ruling The Markets By: 05/22/2015 @ 11:19am Yes, the wheat market has rallied 60¢ since May 13. And yes, the corn and soybean markets have…

Long Weekend Can Mean Market Volatility By: 05/22/2015 @ 11:09am After several corn and soybean contracts mad new lows this week, traders fear the upcoming holiday…

Soybeans Close 14¢ Lower Friday By: 05/22/2015 @ 8:48am DES MOINES, Iowa (Agriculture.com)--On Friday, the CME Group's corn, soybean and wheat markets…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Weather Update - Late May, Early June
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]