Early Corn Stock for 2012/13 are 193 million bushels Lose

October 11, 2012
WASDE Report

Coarse grain: U.S. feed grain supplies for 2012/13 are projected lower with reduced carryin stocks and production of this early month.Corn for 2012/13 lowered 193 million bushels based on 1 share of stock early September estimate.Sorghum lowered 4 million bushels also on 1 September stocks.Forecast corn production for 2012/13 islowered 21 million bushels higher with an area of ​​more than offset by a lower yield UScorn yields.
The estimated at 122.0 bushels per acre, down 0.8 bushels from the previous month.Lower results in Illinois is only partially offset by an increase for Minnesota and North Dakota.Forecast sorghum production is raised 6 million bushels with higher yields for Texas and Arkansas.For 2012/13, corn supplies are projected 214 million bushels lower supply and sorghum are projected 2 million higher.Barley bushels stock down 6 million bushels with a small decrease in the production of reports Grain

Oat inventories decreased by reduction of 3-million-bushel in the output, as well as from the Small Grains report. U.S. corn use for 2012/13 is lowered by reduction of 100-million-bushel projected in export exports.Corn derived based on the slow pace of sales to date and strong competition from Brazil.Corn ending stocks for 2012/13 are projected 114 million bushels lower at 619 million.Projected ending stocks are raised slightly to sorghum, but was downgraded to end oats.Barley stocks are projected 19 million bushels higher reflecting the 25 million bushel reduction in expected feed and residual use based on indications from the price of 1 September stocks.

The season-average farm to corn down 10 cents on both ends of the range to $ 7.10 to $ 8.50 per bushel by early in the season and the cash price and the futures price is available for delivery to the front until early 2013. Global coarse grain supplies for 2012/13 are projected 11.0 million tons lower mostly reflecting reduced corn beginning stocks in the United States and the initial stock Brazil.Brazil reduced by 2011/12 exports increased 4.5 million tons. Global corn production for 2012/13 lowered 2.0 million tons with reductions for EU-27, Serbia, and the United States.

Global sorghum production raised 0.7 million tons with a small increase for Australia, the United States and some African countries. Global wheat production is raised 0.5 million tons with an increase for EU-27.Offsetting this increase is a reduction of 1.8 million tonnes of barley in world output, especially at smaller plants in Australia and Canada, and decreased 0.5 million tons to wheat with smaller plants in Australia.

Global 2012/13 corn exports down 1.1 million tons this month with the U.S. reductions were partially offset by a gain of 1.0-million-ton increases for Brazil and 0.5-million-ton to India.Imports for EU -27 raised 2 , 0 million tons with smaller plants. Global corn meal down 1.4 million tons. Corn and sorghum using food raised this month for a number of African countries in which the grains remain a staple food. Eating barley global lowered by reductions for Australia, Canada, EU-27, and increased to U.S. States.Barley eat coarse grain ending stocks for Saudi Arabia.Global 2012/13 is lowered by corn ending stocks are projected down 6.7 million tons in reductions for Brazil and the United States. Source: USDA