Corn Domestic Stocks and Stocks to Use: 2008/09 end stocks are projected at 1.124 billion bushels vs. October's USDA estimate of 1.154 billion bu. USDA's 2008/09 estimate for end stocks to use is 9% (second tightest dating back to 1980) vs. October's estimated 9.1% with 1995 the lowest at 5% dating back to 1980. 2008/09 end stocks of 1.124 billion bu. are 31% less than 2007/08 end stocks of 1.624 billion bu.
World Stocks and Stocks to Use: 2008/09 world stocks of 110 million tons vs. last months 108 million tons vs. the previous years 109 million tons. USDA 2008/09. 110 million tons of world end stocks would represent the third smallest dating back to 1990. 2008/09 End stocks to use at 12.5% vs. 12.2% last month. At 12.5% end stocks to use, it represents the lowest on record dating back to 1990. 2007/08 end stocks to use are estimated at 14.5%.
Season Average Farm Price: USDA estimates the November 2008/09 Season Average Farm price at $4.40/bushel vs. its October estimate of $4.70 bushel. The SAFP for 2007/08 is $4.20 and 2006/07 was $3.04/bu.
Wheat Domestic Stocks and Stocks to Use: 2008/09 end stocks are projected at 603 mil bu. via the November WASDE vs. 601 million bushels estimate in the October WASDE. 2008/09 end stocks to use projections are 26.2% for the November WASDE report vs. 26.1% for the October WASDE and compares to 2007/08 of 13.1.
World Stocks and Stocks to Use: 2008/09 world end stocks are projected at 145 million tons vs. the October WASDE estimate of 144 million tons, and compares to the 2007/08 level of 119 million tons. 2008/09 world end stocks to use for November is estimated at 18.6% vs. 18.5% estimated in the month of October vs. 16.3% for the 2007/08 marketing year. At 18.6% end stocks to use, it represents the third tightest level dating back to 1990.
Season Average Farm Price: The SAFP for 2008/09 at $6.85 per bushel for the November estimate vs. October's estimate of $7 per bushel.
Soybean Domestic Stocks and Stocks to Use: 2008/09 November end stocks are estimated at 205 million bushels vs. the October 10th estimate of 220 million bushels. The 205 million bushels compare to 2007/08 end stocks of 205 million bushels and the most recent five year average of 319 million bushels. 2008/09 end stocks to use for November are projected at 7% (5th lowest dating back to 1990) vs. an October 10th estimate of 7.4%.
World Stocks and Stocks to Use: USDA's world 2008/09 end stocks for soybeans for the month of November is estimated at 54 million tons vs. 55 million tons the previous month. 2008/09 end stocks to use are estimated at 17.3% vs. October’s 17.6%.
Season Average Farm Price: USDA's projected 2008/09 SAFP for November is projected at $9.85 per bushel vs. its Oct estimate of $10.35 per bushel vs. 2007/08's $10.10/bu.
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