Allendale Predicts Supply & Demand Numbers


The USDA will release its June supply and demand report on Thursday.  Before the report, Allendale, Inc. has the following forecast:

Corn – Stronger ethanol and feed use are expected to overshadow lower exports.  (New Crop) Allendale looks for corn yield of 157.7 bu/acre. That is down a conservative 1.0 from USDA’s May estimate. China corn production is estimated higher than May USDA at 174 million tonnes.

Soybeans – Crush is running lower than USDA expects.  (New Crop) Soybean yield is seen unchanged from USDA’s May estimate at 43.4 bu/acre. 2011/12 Brazil production is increased by 0.5 million tonnes vs. USDA.

Wheat – Export sales have been better than USDA hopes.  (New Crop) Nationwide yield is lowered 0.4 bushels from USDA May estimate to 42.2 bu/acre. Lower production estimates were also made for the EU (136 million tonnes) and Canada (25 mt).

U.S. Ending Stocks (in million bushels)

2010/11 Corn (USDA):  730

2010/11 Corn (Allendale):  708

2010/11 Beans (USDA):  170

2010/11 Beans (Allendale):  185

2010/11 Wheat (USDA):  839

2010/11 Wheat (Allendale):  834

2011/12 Corn (USDA):  900

2011/12 Corn (Allendale):  848

2011/12 Beans (USDA):  160

2011/12 Beans (Allendale):  186

2011/12 Wheat (USDA):  702

2011/12 Wheat (Allendale):  722

World Ending Stocks (in million metric tonnes)

2010/11 Corn (USDA):  122.19

2010/11 Corn (Allendale):  121.88

2010/11 Beans (USDA):  63.81

2010/11 Beans (Allendale):  63.99

2010/11 Wheat (USDA):  182.20

2010/11 Wheat (Allendale):  182.22

2011/12 Corn (USDA):  129.14

2011/12 Corn (Allendale):  129.89

2011/12 Beans (USDA):  61.85

2011/12 Beans (Allendale):  62.55

2011/12 Wheat (USDA):  181.26

2011/12 Wheat (Allendale):  179.32

Commodity trading is risky. Allendale, Inc. assumes no liability for the use of any information contained herein. Past financial results are not necessarily indicative of future performance. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Any examples given are strictly hypothetical and no representation is being made that any person will or is likely to achieve profits or losses similar to those examples.

Source:  Allendale, Inc.

Posted by Haylie Shipp


Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x