Grain Stocks Report Due Monday
The USDA Quarterly Grain Stocks in All Positions report due to be released next Monday (9/30) morning is expected to contain little fresh news for the corn and soybean markets. Traders may be watching the wheat stocks estimate mostly closely due to this year's production problems and tight world supplies.
Trade estimates of Sept. 1 U.S. wheat stocks average 1.759 billion bushels, in a range from 1.716-1.800 billion. The trade average is 18.4% below the year-earlier stocks estimate of 2.156 billion bushels.
Trade estimates of Sept. 1 U.S. soybean stocks average 190 million bushels, in a range from 176-202 million bushels. That compares with USDA's current 2001-2002 ending stocks estimate of 195 million bushels.
Trade estimates of Sept. 1 corn stocks average 1.632 billion bushels in a range from 1.614-1.667 billion bushels. That compares with USDA's current 2001-2002 ending stocks estimate of 1.631 billion bushels.
Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.
To see more market perspectives, visit Brock's Web site at www.brockreport.com.