1/12/15 USDA report recap
Monday, January 12, 2015, 11:01 AM
Submitted by: Jon Setterdahl
USDA monthly S/D and quarterly grain stocks report just released at 11am. Here’s the quick highlights:
CORN -- Production at 14.216Bln with yield of 171bpa. Demand sectors tweaked a little net down 75mln, so resulting carryout is 1.877Bln. Dec 1 stocks 11.203Bln.
BEANS -- Production at 3.969Bln with yield of 47.8bpa. Demand not much change at all, so resulting carryout is 410Mln. Dec 1 stocks 2.524Bln.
Most numbers are within expected trade ranges, with beans more bearish. Corn largely neutral.
The bull did not get fed with these numbers, resulting market action is beans down 25-30 and corn down 2-4.