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Pat Hill DTN Markets Editor

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Wednesday Nov 4, 2009

FCStone Cuts Corn, Hikes Soy Tallies

Commodity brokerage FCStone has reduced its expectations for corn production and raised soybean production since last month.

According to Reuters, the company is now projecting U.S. corn production at 13.004 billion bushels, and soybean production at 3.379 bb, with corn yields of 164.0 bushels per acre and soybean yields of 44.1 bpa.

The new estimates are down 60 m bu from the company's October projections, although yields are up from 163.3 bpa. In October, FCStone estimated soybean production at 3.329 bb on average yields of 43.4 bpa.

Here's how the current set of estimates stacks up:

Production	Linn Group Nov	Allendale-Nov	FC Stone Nov	Informa -Nov	USDA Oct	USDA 08 final
Corn	13.025	13.034	13.004	13.064	13.018	12.101
Soybeans	3.325	3.258	3.379	3.333	3.25	2.959

Yield
Corn	164.3	164.37	164	164.8	164.2	153.9
Soybeans	43.4	42.52	44.1	43.5	42.4	39.6

Posted at 03:50PM CST Nov 4, 2009

Comments (5)

so FC Stone has a cut in corn harvested acres?

Posted by Jeremey Frost at 04:57PM CST Nov 4, 2009

I haven't seen the full FCStone report, just what Reuters released, and it seems to me that they may not release acreage estimates, but I agree with you -- a cut in production and an increase in yields would have to imply fewer acres, wouldn't it?

Posted by Pat Hill at 08:55PM CST Nov 4, 2009

The FCStone estimates use their survey numbers for yield and the most recent USDA reported acres, so yes a 700k cut in acres.

Posted by Ryan Sherwood at 07:55AM CST Nov 5, 2009

Looks like F.C. Stone is long Corn and Short Beans

Posted by Thomas Bayliss at 12:51PM CST Nov 5, 2009

RE: Looks like F.C. Stone is long Corn and Short Beans Who isn't?

Posted by Ryan Sherwood at 01:12PM CST Nov 5, 2009

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Blog Home Pages

	November 2009
S	M	T	W	T	F	S
1	2 More Looking Ahead -- Feed Demand Nov Guessing Game Under Way Some Kansas Wheat Producers Still Waiting October Ends in Bearish Mode	3 The Parade Continues Wide Spreads in Cotton, Rising OI Good: Corn Harvest Mid-December Make That Call! Monday Gains for Cash Bids	4 FCStone Cuts Corn, Hikes Soy Tallies Mud Is Headache, Profit Drain for Dairies, Feedlots Outside Markets -- Gold and Crude Informa Makes Cuts in Corn, Soy Estimates Corn, Bean Indexes Advance Tuesday	5 Bearish Outlook for Soybeans	6 Just Small Changes in Lanworth Estimates China's Soy Appetite Unabated Some Basis Shifts -- Harvest Pressure?	7
8	9 Big Surge in Chinese Passenger Car Sales Indexes Sag Friday	10 Changes in World S&Ds Big Jump in Cash Indexes Monday	11 Questions Surround U.S. Production Number	12 Chinese Corn Production Real Considerations, of the Currency Variety Midweek Gains for Cash Beans, Wheat	13 Adding Some Ratios No New Corn or Soy Numbers Til January Cash Soy Index Gets Boost Next Bottleneck: Propane	14
15	16 Dealing with Vom Issues Vom Talk in Corn Cash Grain Bids See Firm Start	17 Settlement Procedures Revised for Wheat, Rice, Corn, Beans Drying Costs Still A Problem Cash Indexes Get Boost Monday	18 A Rally to Reward or to Ignore? Speculation about Vom Specifications Beans, Wheat Indexes Advance	19 Cash Grain Bids Softer at Midweek	20 Weakness Remains in Ag-Dependent Economies, Survey Finds Corn Mountains Growing Big Yields, Combines Running Hard in Northeast Nebraska Another Leg Up for the DTN Soybean Index	21
22	23	24	25	26	27	28
29	30

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