Allendale Inc. Releases Supply & Demand Pre-Report Estimates
08 April 2013
ANALYSIS – Allendale, Inc., an agricultural brokerage and consulting firm in the Chicago area, predicts USDA will lower corn feed and residual use in their release of the World Agricultural Supply & Demand Estimates on April 10, 2013 at 11:00 am CST, writes Sarah Mikesell, TheCropSite senior editor.
Allendale analysts expect feed and residual use will be lowered from 200 to 400 million bushels in this report in reaction to the recent negative Grain Stocks report. Argentina corn production is estimated at 26 million tonnes (USDA 26.5 mt) and Brazil corn at 72.5 (USDA’s 72.50 mt).
Allendale predicts feed, seed, and residual to be lowered in the report, but it will be partially offset by an increase in exports. Argentina soybean production is estimated at 51.0 million tonnes (USDA 51.5 mt) and Brazil is estimated at 83.5 mt (USDA latest 83.5 mt).
Allendale estimates feed use may be slightly lowered on this report. Source Crop Site News Desk