PF Analysts: USDA Cuts Cotton Carryover to Record-Low Level
From Pro Farmer
Note: Pro Farmer Members can see Pro Farmer's full report reaction on the Pro Farmer page under "Top Stories." To become a member, call 1-800-772-0023 for more information.
Following is a condensed version of the Pro Farmer report reaction:
** 2010-11 U.S. CARRYOVER **
- CORN: 675 million bu.; unch from Mar. proj. of 675 million bu.
-- compares to 1.708 billion bu. in 2009-10 - BEANS: 140 million bu.; unch from Mar. proj. of 140 million bu.
-- compares to 151 million bu. in 2009-10 - WHEAT: 839 million bu.; down from Mar. proj. of 843 million bu.
-- compares to 976 million bu. in 2009-10 - COTTON: 1.6 million bales; down from Mar. proj. of 1.9 mil. bales
-- compares to 2.95 million bales in 2009-10
** GLOBAL CARRYOVER **
- CORN: 122.43 MMT; down from 123.14 MMT in March
-- 145.80 MMT in 2009-10 - BEANS: 60.94 MMT; up from 58.33 MMT in March
-- 58.88 MMT in 2009-10 - WHEAT: 182.83 MMT; up from 181.90 MMT in March
-- 197.91 MMT in 2009-10 - COTTON: 41.55 mil. bales; down from 42.33 mil. bales in March
-- 43.99 mil. bales in 2009-10
** GLOBAL PRODUCTION HIGHLIGHTS **
- ARGENTINA BEANS: 49.5 MMT; compares to 49.5 MMT in March
-- 54.5 MMT in 2009-10 - BRAZIL BEANS: 72.0 MMT; compares to 70.0 MMT in March
-- 69.0 MMT in 2009-10 - ARGENTINA WHEAT: 15.0 MMT; compares to 15.0 MMT in March
-- 11.0 MMT in 2009-10 - AUSTRALIA WHEAT: 26.0 MMT; compares to 26.0 MMT in March
-- 21.92 MMT in 2009-10 - CHINA WHEAT: 114.5 MMT; compares to 114.5 MMT in March
-- 115.12 MMT in 2009-10 - CANADA WHEAT: 23.17 MMT; compares to 23.17 MMT in March
-- 26.85 MMT in 2009-10 - EU-27 WHEAT: 136.08 MMT; compares to 136.08 MMT in March
-- 138.05 MMT in 2009-10 - RUSSIA WHEAT: 41.51 MMT; compares to 41.50 MMT in March
-- 61.77 MMT in 2009-10 - FSU-12 WHEAT: 80.97 MMT; compares to 80.97 MMT in March
-- 113.93 MMT in 2009-10 - CHINA CORN: 168.0 MMT; compares to 168.0 MMT in March
-- 158.0 MMT in 2009-10 - ARGENTINA CORN: 22.0 MMT; compares to 22.0 MMT in March
-- 22.8 MMT in 2009-10 - SOUTH AFRICA CORN: 12.0 MMT; compares to 12.5 MMT in March
-- 13.42 MMT in 2009-10 - BRAZIL CORN: 55.0 MMT; compares to 53.0 MMT in March
-- 56.1 MMT in 2009-10 - CHINA COTTON: 29.5 mil. bales; compares to 29.5 mil. bales in March
-- 32.0 mil. bales in 2009-10
Copyright 2011 Professional Farmers of America.
