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USDA Numbers Off Trade's Mark
CHICAGO - Aug 11/06 - SNS -- The USDA released its crops production estimates Friday, with the soybean numbers coming in below trade expectations; while estimates for corn and all wheat were above the average pre-report survey results for the trade.
All wheat production in the United States is expected to come in at 1.80 billion bushels, down slightly from the July forecast and down 14% from 2005. The number is above the average pre-report trade guess of 1.762 billion bushels, with predictions of the USDA number ranging between 1.724 and 1.802 billion.
Winter wheat production in the United States is forecast at 1.28 billion bushels, up slightly from last month but 14% below 2005. Durum wheat production is forecast at 54.7 million bushels in the United States, down 9% from last month and down 46% from 2005; while other spring wheat is expected to total 464 million bushels, down slightly from last month and 8% below 2005.
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