USDA Grain Supply/Demand Summary
USDA Grain Supply/Demand Summary
MattZeller
[email protected]
March 10. 2014
March-14 U.S. Corn Supplv/Demand (mb)
Planted
World Corn Supplv/Demand Immt)
Mar
Mar
Feb
Mar
Mar
Mar
Feb
Mar
USDA
USDA
USDA
USDA
USDA
USDA
USDA
USDA
11/12
12/13
13/14
13/14
11/12
12/13
13/14
13/14
91.9
97.2
95.4
95.4
Harvested
84.0
87.4
87.7
87.7
Yield
147.2
123.4
158.8
158.8
Carryin
1128
989
821
821
129.30
132.75
134.00
134.67
Production
12360
10780
13925
13925
885.99
863.42
966.63
967.52
Supply
13517
11932
14781
14781
1015.29
996.17
1100.63
1102.19
507.05
515.58
573.53
574.93
882.53
861.50
943.33
943.72
134.67
157.30
158.47
0.156
0.167
0.168
Feed
4557
4335
5300
5300
Exports
1543
731
1600
1625
Ethanol
5000
4648
5000
5000
Other Ind
1428
1396
1400
1400
Demand
12528
11111
13300
13325
Carryout
989
821
1481
1456
132.75'
CO/Use
0.079
0.074
0.111
0.109
0.150
Price
$6.22
S6.89
S4.20
$4.25 $4.75
range
S4.80
ARG Production: 13/14
24.0; unch
China Production: 13/14
217.73;+.73
U.S Sovbea n Supplv/D emand (mb)
Planted
World Sovbean Su Dplv/Demand (mmtl
Mar
Mar
Feb
Mar
Mar
Mar
Feb
Mar
USDA
USDA
USDA
USDA
USDA
USDA
USDA
USDA
11/12
12/13
13/14
13/14
11/12
12/13
13/14
13/14
75.0
77.2
76.5
76.5
Harvested
73.8
76.2
75.9
75.9
Yield
41.9
39.8
43.3
43.3
Carryin
215
169
141
141
70.36
53.51
58.65
57.79
Production
3094
3034
3289
3289
239.57
267.47
287.69
285.43
Supply
3325
3239
3459
3464
309.93
320.98
346.34
343.22
228.02
229.10
238.75
239.04
Crush
1703
1689
1700
1690
Exports
1362
1320
1510
1530
Seed
90
89
87
87
Residual
1
1
12
11
Demand
3155
3099
3309
3319
257.58
258.77
269.34
269.70
Carryout
169
141
150
145
53.51
57.79
73.01
70.64
CO/Use
0.054
0.045
0.045
0.044
0.208
0.223
0.271
0.262
Price
$12.50
S14.40
$11.95
$12.20 $13.70
range
$13.45
Brazil Production: 13/14
Ar jentina Produc;tion: 13/14
88.5;-1.5 54.0; unch
!!B This material should be construed as market commentary, merelyobserving economic, political and/or market conditions, and not Intended to refer to any particular trading strategy, promotional elomont or quality of servico provided by FCStono. LLC. FCStone.LLC is notresponsibleforany rodiilnbution of this matonol bytnirdpartios.orany trading doclsions taKon by porsons notIntendedlo viewthismalenal.Information containedhereinwas oblamodfrom sources boliovod lo bo rodablo. butIs notguaranteed as to its accuracy.ContactFCStonodesignated personnelforspecific trading advicoto meet your trading preferences.These materialsrepresent the opinionsand viewpoints of thoauthor,and do not nocossanlyroflect thoviewpoints and trading strategiesemployedby FCStono, LLC. FCStone Research
GrainSD Report
2829 Westown Parkway. Suite 100 West Des Moines. IA 50266
www.intlfcstone.com
1-800-422-3087
FCStone'
USDA Grain Supply/Demand Summary March 10,2014
March-14 U.S. Wheat Supplv/Demand (mb)
World Wheat Supplv/Demand (mmt)
Mar
Mar
Feb
Mar
Mar
Mar
Feb
Mar
USDA
USDA
USDA
USDA
USDA
USDA
USDA
USDA
11/12
12/13
13/14
13/14
11/12
12/13
13/14
13/14
Planted
54.4
55.7
56.2
56.2
Harvested
45.7
48.9
45.2
45.2
Yield
43.7
46.3
47.2
47.2
Carryin
862
743
718
718
198.98
198.94
175.84!
175.92
Production
1999
2266
2130
2130
697,27
656.42
711.89
712.72
Supply
2974
3131
3018
3018
896.25
855.36
887.73
888.64
Food
941
945
960
960
Exports
1048
1007
1175
1175
Seed
76
73
74
74
Feed/Res
166
388
250
250
Demand
2231
2414
2459
2459
697.31
679.44
703.99
704.82
Carryout
743
718
558
558
198.94
175.92
183.73
183.81
CO/Use
0.333
0.297
0.227
0.227
0.285
0.259
0.261
0.261
Price
$7.24
$7.77
$6.65
$6.75 $6.95
range
AUS Production: 13/14
27.0; +0.5
CAN Production: 13/14
37.5; unch
MattZeller
[email protected]
March 10. 2014
March-14 U.S. Corn Supplv/Demand (mb)
Planted
World Corn Supplv/Demand Immt)
Mar
Mar
Feb
Mar
Mar
Mar
Feb
Mar
USDA
USDA
USDA
USDA
USDA
USDA
USDA
USDA
11/12
12/13
13/14
13/14
11/12
12/13
13/14
13/14
91.9
97.2
95.4
95.4
Harvested
84.0
87.4
87.7
87.7
Yield
147.2
123.4
158.8
158.8
Carryin
1128
989
821
821
129.30
132.75
134.00
134.67
Production
12360
10780
13925
13925
885.99
863.42
966.63
967.52
Supply
13517
11932
14781
14781
1015.29
996.17
1100.63
1102.19
507.05
515.58
573.53
574.93
882.53
861.50
943.33
943.72
134.67
157.30
158.47
0.156
0.167
0.168
Feed
4557
4335
5300
5300
Exports
1543
731
1600
1625
Ethanol
5000
4648
5000
5000
Other Ind
1428
1396
1400
1400
Demand
12528
11111
13300
13325
Carryout
989
821
1481
1456
132.75'
CO/Use
0.079
0.074
0.111
0.109
0.150
Price
$6.22
S6.89
S4.20
$4.25 $4.75
range
S4.80
ARG Production: 13/14
24.0; unch
China Production: 13/14
217.73;+.73
U.S Sovbea n Supplv/D emand (mb)
Planted
World Sovbean Su Dplv/Demand (mmtl
Mar
Mar
Feb
Mar
Mar
Mar
Feb
Mar
USDA
USDA
USDA
USDA
USDA
USDA
USDA
USDA
11/12
12/13
13/14
13/14
11/12
12/13
13/14
13/14
75.0
77.2
76.5
76.5
Harvested
73.8
76.2
75.9
75.9
Yield
41.9
39.8
43.3
43.3
Carryin
215
169
141
141
70.36
53.51
58.65
57.79
Production
3094
3034
3289
3289
239.57
267.47
287.69
285.43
Supply
3325
3239
3459
3464
309.93
320.98
346.34
343.22
228.02
229.10
238.75
239.04
Crush
1703
1689
1700
1690
Exports
1362
1320
1510
1530
Seed
90
89
87
87
Residual
1
1
12
11
Demand
3155
3099
3309
3319
257.58
258.77
269.34
269.70
Carryout
169
141
150
145
53.51
57.79
73.01
70.64
CO/Use
0.054
0.045
0.045
0.044
0.208
0.223
0.271
0.262
Price
$12.50
S14.40
$11.95
$12.20 $13.70
range
$13.45
Brazil Production: 13/14
Ar jentina Produc;tion: 13/14
88.5;-1.5 54.0; unch
!!B This material should be construed as market commentary, merelyobserving economic, political and/or market conditions, and not Intended to refer to any particular trading strategy, promotional elomont or quality of servico provided by FCStono. LLC. FCStone.LLC is notresponsibleforany rodiilnbution of this matonol bytnirdpartios.orany trading doclsions taKon by porsons notIntendedlo viewthismalenal.Information containedhereinwas oblamodfrom sources boliovod lo bo rodablo. butIs notguaranteed as to its accuracy.ContactFCStonodesignated personnelforspecific trading advicoto meet your trading preferences.These materialsrepresent the opinionsand viewpoints of thoauthor,and do not nocossanlyroflect thoviewpoints and trading strategiesemployedby FCStono, LLC. FCStone Research
GrainSD Report
2829 Westown Parkway. Suite 100 West Des Moines. IA 50266
www.intlfcstone.com
1-800-422-3087
FCStone'
USDA Grain Supply/Demand Summary March 10,2014
March-14 U.S. Wheat Supplv/Demand (mb)
World Wheat Supplv/Demand (mmt)
Mar
Mar
Feb
Mar
Mar
Mar
Feb
Mar
USDA
USDA
USDA
USDA
USDA
USDA
USDA
USDA
11/12
12/13
13/14
13/14
11/12
12/13
13/14
13/14
Planted
54.4
55.7
56.2
56.2
Harvested
45.7
48.9
45.2
45.2
Yield
43.7
46.3
47.2
47.2
Carryin
862
743
718
718
198.98
198.94
175.84!
175.92
Production
1999
2266
2130
2130
697,27
656.42
711.89
712.72
Supply
2974
3131
3018
3018
896.25
855.36
887.73
888.64
Food
941
945
960
960
Exports
1048
1007
1175
1175
Seed
76
73
74
74
Feed/Res
166
388
250
250
Demand
2231
2414
2459
2459
697.31
679.44
703.99
704.82
Carryout
743
718
558
558
198.94
175.92
183.73
183.81
CO/Use
0.333
0.297
0.227
0.227
0.285
0.259
0.261
0.261
Price
$7.24
$7.77
$6.65
$6.75 $6.95
range
AUS Production: 13/14
27.0; +0.5
CAN Production: 13/14
37.5; unch
