U.S. corn supplies, crops, surprising Bestandsbonituren - numbers of the USDA
The inventory of U.S. corn stocks as of June 1, 2014 has revealed surprisingly high corn supplies. the amounts on the farms (+ 48% compared to the previous time) were almost to the half or found in other warehouses in the marketing track (+ 32% compared to previous year).
Market experts were surprised. The USDA results are above the expectations clearly. The explanation for the previous miscalculation is considered in 2013 in the classified to low crop yield of last year. Another option is to lower use due to the increased pork and bovine herds. An increase in the poultry flocks but faces the.
The second surprise was that to 4% lower corn acreage compared to the previous year. That less corn would be grown, was indicated in the report of the March, but the extent of the reduction called surprise out. the numbers with the weather-related delay, which benefited of late-sowing friendly soya bean are explainable. Crucial should, however, the lingering for months cheap soy-corn price ratio of 2.8 to 1 have been. The undistorted price ratio is 2.2 to 1.
The stock animal muster has opposed all those last Sunday, suspected already considerable damage as a result of the heavy rainfall of in recent weeks. Indeed, some regions such as Kansas, Minnesota, N.Dakota are affected, however, the rains in other areas have led to a significant improvement of the seed stand. The corn stocks with 75% in the category were "good to excellent" in the US average slightly better than in the last week. classified. the forecasts were exactly the other way around.
The stock prices reacted abundant sensitive stock increases. The price decline was close to the limit-down border. In compliance with the lower estimate of the acreage was modest. The favorable stock assessment could have participated while offsetting.
