US - Allendale Inc estimates end of the marketing year corn, at 1.194 billion bushels, which is higher than USDA's September 11 estimate of 1.181.
Allendale's estimate of end of the marketing year stocks for soybeans, at 125 million bushels, is lower than USDA's September 11 estimate of 130 million bushels. This was made with a 45 million bushel increase to the Fall 2013 harvest.
Wheat production has been revised slightly lower than USDA's September 11 estimate. First quarter wheat usage, at 879 million bushels, was 13 per cent under last year. First quarter exports, of 259 million bushels, were 28 per cent under last year.
The Allendale team discussed expectations for the report at their September 23rd webinar. If you missed it, you can view the recording here.
TheCropSite News Desk