Wednesday, January 10, 2007

USDA to release Crop numbers on Friday

The USDA is set to release it's latest crop estimate report on Friday. Some analysts are predicting this report could have a big effect on the market as clear picture is given on the stocks of corn, beans and wheat along with the wheat acres planted.

In an article in Agri-News :
Jason Ward, North Star Commodity Investment Co., said a lower-than-expected corn crop size would move the market. With a current national corn yield average of
151.2 bushels per acre, anything below 150 bushels would be shocking, Ward
said.
"If we stay above 150 bushels per acre, the market will not be
extremely bullish. Any number that comes down a bushel per acre or more would be considered bullish," Ward said.

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