U.S. 2011 wheat, corn, soybean carryover down

by Ron Sterk
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WASHINGTON — U.S. 2011 carryover of wheat, corn and soybeans were reduced from December projections, while Dec. 1, 2010, stocks of corn and soybeans were estimated below year-ago levels and 2010 corn and soybean production estimates were reduced from previous estimates, the U.S. Department of Agriculture said in a bevy of reports this morning.

U.S. wheat carryover on June 1, 2011, was projected at 818 million bus, down 40 million bus, or 5%, from 858 million bus forecast in December and down 158 million bus, or 16%, from 976 million bus in 2010, the U.S.D.A. said in its Jan. 12 World Agricultural Supply and Demand Estimates.

U.S. corn carryover on Sept. 1, 2011, was projected at 745 million bus, down 87 million bus, or 10%, from 832 million bus in December, and down 963 million bus, or 56%, from 1,708 million bus in 2010.

U.S. soybean carryover on Sept. 1, 2011, was projected at 140 million bus, down 25 million bus, or 15%, from 165 million bus in December, and down 11 million bus, or 7%, from 151 million bus in 2010.

Wheat stored in all positions on Dec. 1, 2010, totaled 1,927,755,000 bus, up 8% from Dec. 1, 2009, the U.S.D.A. said in its latest Grain Stocks report. Dec. 1 corn stocks were down 8% from a year ago at 10,039,877,000 bus, and soybean stocks were down 3% at 2,276,860,000 bus, the U.S.D.A. said.

U.S. 2010 corn production was revised to 12,447 million bus, down 1% from 12,540 million bus forecast in November and down 5% from a record 13,092 million bus in 2009, and soybean production was estimated at 3,329 million bus, also down 1% from 3,375 million bus forecast in November and down 1% from 3,359 million bus last year, the U.S.D.A. said in its annual Crop Production report.

Check back later on FoodBusinessNews.net and BakingBusiness.com for the full stories on these U.S.D.A. reports.

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