Outlook

World wheat trade for 2010/11 projected down slightly

World wheat trade in 2010/11 is projected to be down slightly this month by 0.3 million tons to 125.3 million. EU-27 exports are cut 0.5 million tons to 21.5 million, while Canada’s forecast exports increase 0.5 million to 17.5 million. Despite a higher volume of accumulated wheat sales and export licenses on the year for the EU-27, tightening wheat supplies are expected to curb wheat exports later in the marketing year as domestic prices increase. The pace of Canadian wheat exports, on the other hand, supports the higher export projection, as Canada attempts to make the most of the world’s lower supplies of milling quality wheat. FULL STORY »

Domestic wheat situation & outlook: 2010/11 supplies

Total projected supplies for 2010/11, at 3,294 million bushels, are unchanged from January. Supplies for 2010 are 301 million bushels above 2009/10. Sharply higher beginning stocks more than offset slightly lower production and projected imports year to year. FULL STORY »

Total wheat supply/utilization unchanged

U.S. wheat supply, use, and ending stocks projections for 2010/11 are unchanged this month. While the all-wheat projections are unchanged, several offsetting by-class adjustments are made to exports and domestic use. Exports of hard red winter (HRW) and white wheat are each projected 10 million bushels higher. FULL STORY »

Corn use prospects up in 2010/11

Domestic corn use is increased this month by 70 million bushels as demand remains strong in 2010/11 despite record-high corn farm prices. Leading the change is a 50-million-bushel increase in the projection of corn used for ethanol. FULL STORY »

CBOT corn outlook: seen up slightly on acreage concerns

U.S. corn futures are expected to start slightly higher Monday in an attempt to convince farmers to sow more acres this spring to replenish low supplies. Traders predict corn for March delivery, the most-active contract, will open 1 to 3 cents a bushel higher at the Chicago Board of Trade. FULL STORY »

World Coarse Grain Production, Use & Ending Stocks Reduced

Global coarse grain production in 2010/11 is projected to reach 1,083.5 million tons, down 5.1 million this month. While the U.S. decline is the largest single-country reduction, foreign production is down 3.0 million tons to 753.2 million. FULL STORY »

Sorghum Production Up In 2010/11

U.S. sorghum production for 2010/11 is estimated at 345 million bushels, up 7 million from last month but down 38 million from 2009/10. The upward revision to this year’s production is based on increased harvested acreage. FULL STORY »

Corn Yield Trimmed For 2010/11

U.S. corn production for 2010/11 is decreased 93 million bushels this month to 12,447 million bushels. This month’s decrease reflects a decrease in the average corn yield, down 1.5 bushels per acre to 152.8 bushels per acre.
FULL STORY »

World Corn Trade Prospects Trimmed, U.S. Export Prospects Unchanged

Global corn trade is projected at 92.0 million tons in 2010/11 (October-September), down 1.2 million this month. The largest reduction in projected imports is for Mexico, down 1.0 million tons to 8.1 million. FULL STORY »

Record Corn Ethanol Use For Ethanol Expected Higher

Projected U.S. 2010/11 and 2009/10 corn used for ethanol was raised this month as ethanol production continues to increase. Feed grain supplies are unchanged in 2009/10, but lower ending stocks reduce supply prospects for 2010/11.
FULL STORY »

Feed Grain Production Prospects Up In 2010/11

U.S. feed grain production for 2010/11 is projected at 354 million metric tons, up from 349 million in 2009/10. This year-to-year increase steams from larger projected planted and harvested area for corn, but lower planted and harvest area for sorghum and barley. Oats production is expected to decrease from 2009, with trend yields lower than last year’s record level.
FULL STORY »

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