June 22, 2011

USDA Grains stock report released end of June

On June 30 the United States department of Agriculture (USDA) will release its annual grain stocks report. The grain supply scenario has been in the forefront of what's thought to be driving the latest bullish movement in the trade. "This years report could have a major influence on the grains" says University of Illinois ag economist Darrel Good.

That makes the feed number a big one to watch, not just in next week's report but moving forward, Good says. "For the year, the USDA projects feed and residual use of corn at 5.15 billion bushels. "Subsequently, the September 1, 2010 corn stocks estimate came in larger than expected so that feed and residual use of corn during the final quarter of the year appears abnormally small. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers

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