World Corn, Wheat Reserves to Drop, Soybeans May Rise, According to Survey

World inventories of corn before the 2011 harvest probably will fall to the lowest level since 2008, and wheat reserves may slip to a two-year low, according to a survey of as many as 13 analysts by Bloomberg News. While the U.S. Department of Agriculture probably will cut its estimate for global soybean stockpiles, the total will still be higher than a year earlier, according to the survey. The USDA is scheduled to release its estimates for the 2010-2011 season on Sept. 10 at 8:30 a.m. in Washington.

                   Analysts Estimates            USDA Estimates
                  Average        Range          2011     2010
Corn               135.00      129.0-140.0     139.20   139.03
Soybeans            63.86       60.0-67.26      64.73    63.52
Wheat              171.09      167.5-175.0     174.76   193.97

Global Inventories Before 2011 Harvests

Corn Soybeans Wheat FIRM ESTIMATES ================================================================ ABN Amro Clearing 138.00 65.00 175.00 A/C Trading Inc. 137.00 66.00 170.00 ADM Investor Services 135.50 64.70 170.90 Allendale Inc. 136.50 67.26 168.97 Brugler Marketing 131.00 63.50 172.00 Farm Futures 138.30 64.12 173.10 JPMorgan Chase & Co 130.00 60.50 171.00 Kropf & Love 135.00 60.00 170.00 Newedge n/a n/a 171.20 Northstar Commodity 129.00 63.50 167.50 Penson GHCO 137.90 62.85 n/a Prime Ag Consultants 140.00 65.00 175.00 Prudential Bache 135.00 n/a 170.00 Rabobank 131.75 63.86 169.50

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To contact the reporter on this story:
Jeff Wilson in Chicago at 
jwilson29@bloomberg.net.

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