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Pat Hill DTN Markets Editor

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Tuesday 02/09/10

Reports Out as Scheduled

USDA released its monthly supply and demand tables as scheduled, as officials took advantage of a small breather between big storms to get reports out in Washington.

Just some tweaks in the demand side of the tables for U.S. numbers -- more corn use for ethanol, less corn for export (and a cut in sweetener use -- what's that all about?). Soybeans, more exports and a little more crush. Wheat, an increase in wheat IMPORTS.

World numbers were also nudged, wheat ending stocks higher but both corn and soybean ending stocks cut, despite the expected increase in Brazil soybean production and Argentine corn production -- it looks as if world consumption more than offset these increases.

Posted at 7:43AM CST 02/09/10 by Pat Hill

Comments (2)

My predictions are demand will increase as time goes on. I'm really surprised it has not shown already but as we get past March when farmer bills are due I think you will see increased crop prices. We have two very critical criteria to deal with. 1. Leftover crop in the field 2. crop damage, moisture when pulled out of fields. This will eliminate many who would normally take the corn! Right now local cash corn isn' t even break even!

Posted by l d at 9:11AM CST 02/09/10

Demand always comes around and helps push prices when/if farmers don't decide to sell at certain times of the year. However, the global picture, which is the one that normally puts the icing on our cake, is going to be muted by the BIG South American corn crops in both Brazil and Argentina. In the meantime, as we've seen in the past few weeks, prices are indeed 'heading south'. With all the extra acres possible for both corn and soybeans being planted this spring---helping to cover the shortfall in planted wheat, there is a very good chance that 2010 will be a real bummer in grain prices for the U.S., especially if we have a normal or better crop this fall.

Posted by Don Griffiths at 7:34PM CST 02/09/10

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Blog Home Pages

	July2010
S	M	T	W	T	F	S
				1 June 1 Wheat Stocks Buildup Where the Corn Is Cash Corn, Wheat Bids Bump Up	2 A Look Back at Wheat Marketings Informa: Corn 13.2 b bu, Beans, 3.385 b bu HRW Protein, Test Weight Update, and Market Advice Cash Indexes Build Gains	3
4	5	6 Guesses, Anyone? Out the Window, Out the Windshield Can Cash Corn Continue the Rally?	7 Biotech Wheat Back on the Drawing Board Macro Forecast - IHS Global Insight Cash Bids Mixed Tuesday	8 Big Gains for Grain Bids	9 Biggest Changes: World Stocks Numbers Another Step Up the Ladder	10
11	12 Mopping Up After the Lockup Cash Soybeans Top Off Big Week	13 Cash Indexes Mixed to Start the Week	14	15 Chicago Wheat Hits 13-Month High	16 Big Rally Sends Wheat Prices Skyrocketing	17
18	19 Wheat Prices Fall Back on Market Correction	20	21 Wheat Indexes Fall on Profit Taking	22 Cash Corn Index Rebounds on Futures Strength	23 Taking Commodity ETFs to Task Early SRW Quality Reports Wheat Indexes Pad Gains	24
25	26 Bean Counters -- For Real Corn Index Sags	27 Grains Council: No Word on Quality Issues for China Corn Shipment Spring Wheat Tour Under Way Indexes Start Week Sliding Downhill	28 Big Advances, So What? Wheat Horse Has the Bit in Her Teeth	29 IGC Monthly Forecast Cuts Wheat Production Another Leg Up for Cash Bids	30	31

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