Corn– USDA will leave production unchanged on this specific report. We see a minor 20 million increase in corn for ethanol. The increase will be limited due to ethanol production losses starting in March. No changes are seen for feed/residual or exports at this time. We lower our Brazil production estimate from 74 to now 73 mt. USDA is at 75.
Soybeans– USDA will leave production unchanged on this specific report. We see crush increasing by 10 million and exports by 5. We leave our Brazil production figure unchanged at 93 mt vs. USDA 94.
Wheat – We have left production unchanged on this report. A 10 million bushel reduction in feed/residual is assumed.
Demand is a key issue we will discuss in our next Ag Leaders webinar. We’ll talk with USDA’s Richard Omeara on some of the upcoming key demand issues. Registration is free, here. |
Supply & Demand, to be RELEASED ON 12/10/14
PRODUCTION 13/14 14/15 14/15 In million bushels USDA USDA Allendale Corn 13925 14475 14475 Soybeans 3358 3927 3927 All Wheat 2135 2026 2026 Other Spring 534 595 595 Durum 58 53 53 Winter 1543 1378 1378 HRW 747 738 738 SRW 568 455 455 WW 227 184 184
US ENDING STOCKS USDA ALDL USDA ALDL in million bushels 13/14 13/14 14/15 14/15 US Corn 1236 1236 2008 1983 US Beans 92 92 450 435 US Wheat 590 590 644 654
WORLD ENDING STOCKS USDA ALDL USDA ALDL in million metric tonnes 13/14 13/14 14/15 14/15 World Corn 172.99 172.99 191.50 191.03 World Soybeans 66.85 66.85 90.28 89.79 World Wheat 185.72 185.72 192.90 192.98 |