ADMIS Pre USDA Report Comments
The below is ADM Investor Services’ thoughts on what to expect in the upcoming key USDA supply and demand estimates report, due out 7.30 am on January 12. Click here for the full version.
Tuesday, January 12, 2010, marks the date for the annual USDA report. It is one of the bigger reports of the year. Highlights include final production estimates for corn and beans from last years crop, Quarterly Stocks, and an initial look at new crop winter wheat planted acreage prospects.
For corn and beans, we begin to put in the final pieces of total supply for the ‘09-10 crop year while we become more focused on total use through the remainder of the marketing year. First quarter stocks for corn and beans will give an initial trend in use through the September-November period. For wheat, we will be at the halfway point of the marketing year for use. While at the halfway point for wheat in the old crop marketing year, we will also get a peek at new crop prospects when the USDA issues its first estimate of winter wheat plantings.
Although we have a long way to go until the winter wheat harvest along with seeing how all wheat crop prospects develop, it also helps set an early tone on what other type of planted acreage mixes we can estimate for the upcoming spring (that being for corn, beans, oats, rice, and cotton crops).
