Corn futures are called 15 to 20 cents higher with 2011/12 ending stocks extremely tight, Brugler Marketing said Thursday morning. The monthly WASDE report put corn ending stocks for 2010/11 at 940 m/bu. compared to the average trade estimate of 922 m/bu. and 2011/12 ending stocks at 714 m/bu. compared to 751 m/bu. for the average trade estimate.
Soybean futures are expected to open 10 to 15 cents higher, Brugler Marketing said. The USDA put soybean ending stocks for 2010/11 at 230 m/bu.. Trade estimates were 218 m/bu. for 2010/11. The USDA projects 2011/12 ending stocks at 155 m/bu. compared to the average trade guess of 168 m/bu. and down from 175 m/bu. in the July report.
As seen on marketwatchonline.com
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