Wow!! With the USDA report coming out last Tuesday a lot of people are saying "What Happened to the markets". We have seen a steep drop in prices that reflect the increase in acres and yield that USDA says is out there. Although those measurements were taken on December ,1 and there was a lot of corn harvested after that with several bushels still to be harvested. Hopefully, this will be a short term setback as we head into spring.
USDA January 12, 2010 Report
2009 Final Production
Jan 12 Avg Est December 2008
Corn 13.151 12.821 12.921 12.101
Soybeans 3.361 3.338 3.319 2.967
Yields
Jan 12 Avg Est December 2008
Corn 165.2 162.4 162.9 153.9
Soybeans 44.0 43.6 43.3 39.7
Ending Stocks
Jan 12 Avg Est December 2008/09
Corn 1.764 1.587 1.675 1.674
Soybeans 245 235 255 138
Wheat 976 914 900 657
December 1 Stocks
Jan 12 Avg Est 2008
Corn 10.934 10.722 10.078
Soybeans 2.337 2.415 2.276
Wheat 1.765 1.759 1.422
2010 Winter Wheat Acreage
Jan 12 Avg Est 2009
All Winter Wheat 37.097 40.916 43.311
Hard Red 27.8 30.414 31.649
Soft Red 5.9 6.975 8.309
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