Indiana Grain Company, LLC

Posted: 11/06/11

By: tomgrisafi

Grains analyst Mike Zuzola of Global Commodity Analytics in Lafayette, Indiana, said investors would closely scrutinise demand data in the USDA report, as exports of U.S. soybeans sales had lagged in recent weeks.

* Analysts polled by Reuters expect the USDA to peg the U.S. corn yield at 147.7 bushels per acre, down from its October estimate of 148.1 bushels. Production was expected to be 12.381 billion bushels versus 12.433 billion in October.

* Analysts estimated the soybean yield at 41.4 bushels per acre, down from 41.5 bushels in October. Production was seen at 3.048 billion, compared with 3.060 billion in October.

* U.S. corn ending stocks in the 2011/12 season (Sept/Aug) were expected by traders to be 795 million bushels, down from the USDA's October estimate of 866 million. Soy stocks were seen at 182 million, down from 160 million.

* Commodity brokers in the United States rushed on Friday to finish transferring thousands of customers from bankrupt rival MF Global, shifting their attention to the delicate task of ensuring new clients' margins are topped up.

* Large speculators cut their net long stake in CBOT soybeans by 32 percent as prices fell due to low demand on the export market, according to regulatory data released on Friday. Speculators, including hedge funds, also raised net long stakes in corn and increased their net short position in CBOT wheat.

Source: Reuters

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