Market Matters Blog
Pat Hill DTN Markets Editor

Wednesday 11/04/09
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 3:50PM CST 11/04/09
Comments (5)
so FC Stone has a cut in corn harvested acres?
Posted by Jeremey Frost at 4:57PM CST 11/04/09
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 8:55PM CST 11/04/09
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 7:55AM CST 11/05/09
Looks like F.C. Stone is long Corn and Short Beans
Posted by Thomas Bayliss at 12:51PM CST 11/05/09
RE: Looks like F.C. Stone is long Corn and Short Beans Who isn't?
Posted by Ryan Sherwood at 1:12PM CST 11/05/09
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