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USDA crop report preview
USDA will issue its August 1 crop production report and monthly supply-demand update on Friday, Aug. 10 at 7:30 a.m. CDT.
Compiled by staff
Published: Aug 8, 2012
Analysts expect the USDA on Friday to cut its forecasts for US corn production this year by 15% to 10.97 billion bushels and for soybeans by 9% to 2.79 billion bushels, a Dow Jones poll shows. Analysts expect the production shortfalls to take corn inventories at the end of the 2012-13 marketing year to their lowest level since the 1995-96 year, and soybean inventories to their lowest since 2003-04, according to the poll.
The following are analysts' estimates in billions of bushels for 2012 corn and soybean production based on conditions as of August 1. Yield estimates are in bushels per acre.
Crop Production
Average
Range
USDA Jly
USDA 2011
Corn
10.971
9.860-11.750
12.970
12.358
Corn Yield
126.2
117.6-134.0
146.0
147.2
Soybeans
2.786
2.400-2.925
3.050
3.056
Soy Yield
37.2
32.0-39.0
40.5
41.5
2011-12 Ending Stocks
Average
Range
USDA Jly
USDA 2010-11
Corn
0.945
0.750-1.183
0.903
1.128
Soybeans
0.157
0.138-0.200
0.170
0.215
2012-13 Ending Stocks
Average
Range
USDA Jly
Corn
0.651
0.400-0.850
1.183
Soybeans
0.115
0.095-0.140
0.130
Wheat
0.681
0.600-0.718
0.664
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