谷物Lower as Traders Prepare for Planting Intentions Report

The grains are trading slightly lower today with corn down 2 cents, soybeans down 4 1/4 cents and wheat down 5 cents going into this morning’s pause in trade. Today at 11 AM CST the USDA will release its Prospective Plantings report as well as the Quarterly Grain stocks figures. Traders are looking for decreased corn acreage and increased soybean acres in this year’s report.

Here are the analyst expectations for this year’s prospective plantings report:

Corn Soybean

Last Year 90.6 83.7

Reuters Poll 88.7 85.9

Lanworth 88.2 85.5

Informa经济学88.5 87.5

农场期货杂志88.34 87.25

Above table is in Million Acres

The expectations for the quarterly grain stocks as of March 1st are as follows. For corn the average analyst guess pegs quarterly grain stocks at 7.609 billion bushels with the highest estimate at 7.8 billion and the lowest estimate at 7.459 billion bushels. Wheat stocks are expected to be around 1.140 billion bushels with a range of analyst guesses from 1.2 billion bushels to 1.083 billion bushels. Soybean stocks are expected to be around 1.346 billion bushels with a range of guesses from 1.404 - 1.273 billion bushels.

Winter wheat crop conditions were released today, showing Kansas wheat in good to excellent condition fell to 39 percent down from 41 percent last week. South Dakota wheat rated good to excellent fell to 35 percent from 49 percent a month ago and Nebraska wheat fell to 34 percent from 62 percent last month. Of the states that released their wheat crop conditions report Colorado, Montana, Arkansas, North Carolina and Illinois all saw improved conditions. Illinois wheat conditions improved to 52 percent from 47 a week a month ago, while Colorado conditions increased to 58 percent from 47 percent a week ago.

昨天发布的出口检查显示，本周检查了762,276吨玉米，这是分析师预期为800,000-950,000公吨的次数。与400,000-550,000公吨的预期相比，经过322,016公吨检查的小麦还没有达到分析师的预期。大豆是唯一的谷物，与仅450,000-600,000公吨的预期相比，具有655,720公吨的分析师预期。

—Cody Bills