prime reazioni sui dati dell'USDA, proiezioni sull'apertura dei grains: bearish mood sul frumento , neutral su mais e soia
DJ Traders Find USDA Data Bearish For Wheat, Neutral Corn, Soy
By Lisa Kallal
CHICAGO (Dow Jones)--Outside of some higher-than-expected wheat production
figures, traders on the Chicago Board of Trade poring over fresh U.S.
Department of Agriculture data found little to be excited about.
The Sept. 1 quarterly stocks report showed as expected corn and soybean
supplies, but higher-than-anticipated wheat stocks. The increased wheat
supplies came from an upward adjustment to 2004 wheat output.
Early opening calls were 3-5 cents per bushel lower for wheat, down 1/2-1
cent for corn and mostly steady for soybeans.
"For corn and soybeans is was a pretty boring report," said one CBOT floor
trader.
For wheat, the USDA now projects the 2004 U.S. crop at 2.164 billion
bushels, up from the August forecast of 2.123 billion. This is the opposite of
the average analyst estimate that had projected a decline to 2.105 billion.
Primarily, the increase came from the other spring wheat class, which the
USDA now projects at 574 million bushels, up from the August estimate of 545
million. Trade estimates had called for a decrease.
The USDA then projected first-quarter U.S. wheat stocks at 1.942 billion
bushels, up from the average trade guess of 1.874 billion, but still down from
2.039 billion for the same quarter last year.
The USDA put Sept. 1 soybean stocks at 112 million bushels, down from the
average guess of 119 million, but up from the August ending stocks forecast of
105 million.
Sept. 1 U.S. corn stocks came in at 958 million bushels, up slightly from
the average trade estimate of 953 million and the August carryout estimate of
954 million.
OK!
