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Re: The Grains Review For the Week of March 5, 201

Very good review PitGuru. Light volume in grains until report day...and range bound until report day. Here are pre-report guesses:

U.S. Grain-, Soybean-Inventory Forecasts to Be Cut, Survey Shows By Jeff Wilson
March 5 (Bloomberg) -- U.S. corn, wheat and soybean inventories before the 2012 harvests probably will be smaller than the government forecast last month as hot, dry weather damages crops in South America, boosting demand for U.S.
exports, according to a survey of as many as 28 analysts by Bloomberg News.
The U.S. Department of Agriculture is scheduled to update its reserve estimates at 8:30 a.m. on March 9 in Washington.
Figures in the following tables are in millions of bushels.

2012 U.S. Inventory Forecasts
Analysts Estimates
Average Range Previous USDA
2012 2011
Corn 776.5 680-825 801 1,128
Soybeans 253.9 188-275 275 215
Wheat 837.2 803-878 845 862 South America Corn, Soybean Output May Be Reduced, Survey Shows

March 5 (Bloomberg) -- Following are estimates for this year’s corn and soybean crops in Brazil and Argentina, based on a survey of 24 analysts by Bloomberg News. Production figures are in millions of metric tons. The U.S. Department of Agriculture is scheduled to release its estimates on March 9 at
8:30 a.m. in Washington.
Crop Production USDA Estimates
Average Range 2011 2010
ARGENTINA
Corn 21.10 20.00-22.50 22.00 22.50
Soybeans 46.93 45.50-48.00 48.00 49.00
BRAZIL
Corn 60.20 58.50-61.50 61.00 57.50
Soybeans 69.52 68.00-70.50 72.00 75.50

My guess is that it is going to be dud as well.

Messages In This Thread

The Grains Review For the Week of March 5, 2012
Re: The Grains Review For the Week of March 5, 201