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| Morning Highlights
June 10, 2010
800-328-6530
www.countryhedging.com
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The information contained in this document is taken from sources which we believe to be reliable, but is not guaranteed by
us as to accuracy or completeness and is sent to you for information purposes only. There is risk of loss when trading
commodity futures and options. Country Hedging Inc. bases its recommendations solely on the judgment of Country
Hedging Inc. personnel.
USDA Winter Wheat Crop Production (in billion bushels)
June 2010-11 Average Range May 2010-11 2009 Final
Total winter wheat 1.482 1.439 1.379-1.485 1.458 1.523
Hard red winter wheat 0.979 0.939 0.850-0.984 0.960 0.919
Soft red winter wheat 0.284 0.286 0.278-0.318 0.283 0.404
White winter wheat 0.219 0.214 0.200-0.240 0.215 0.200
All Wheat 2.067 2.037 1.990-2.161 2.043 2.216
USDA US Grain Carryout (in billion bushels)
June 2010-11 Average Range May 2010-11 June 2009-10 May 2009-10
Wheat 0.991 0.976 1.172 0.997 0.930 0.950
Corn 1.573 1.806 1.601-2.075 1.818 1.603 1.738
Soybeans 0.360 0.354 0.235-0.469 0.365 0.185 0.190
USDA World Carryout (in million tonnes)
June 2010-11 May 2010-11 June 2009-10 May 2009-10 May 2008-09
Wheat 193.93 198.09 192.90 193.37 165.06
Corn 147.32 154.21 143.41 147.04 147.35
Soybeans 66.99 66.09 65.47 63.76 43.04
USDA World Grain Production (in million tonnes)
June 2010-11 May 2010-11 June 2009-10 May 2009-10
Argentina Wheat 12.00 12.00 9.60 9.60
Australia Wheat 22.00 22.00 22.50 22.50
China Wheat 112.00 112.00 114.50 114.50
EU 27 Wheat 142.97 145.07 138.88 138.88
Canada Wheat 24.50 24.50 26.50 26.50
Argentina Corn 21.00 21.00 22.50 21.00
South Africa Corn 12.50 12.50 14.00 14.00
China Corn 166.00 166.00 155.00 155.00
Brazil Corn 51.00 51.00 53.00 53.50
China Soybeans 14.60 15.20 14.70 14.50
Argentina Soybeans 50.00 50.00 54.00 54.00
Brazil Soybeans 65.00 65.00 69.00 68.00
Early Call:
Corn- 5 to 10 higher
Soybeans- 3 to 5 cents higher
Wheat- steady to 2 cents higher
Vivian M. Hamilton
[email protected]
7:15am CN SN SMN BON WN KWN MWN
CT HIGH 7.14 ¼ 15.50 323.50 42.66 11.13 ½ 11.12 8.51
CLOSE 3.38 ¼ 9.43 ½ 285.50 36.75 4.28 4.58 4.86 ¼
E-CBOT 3.36 9.47 ½ 287.50 36.85 4.29 ¼ 4.60 4.85 ½
CT LOW 3.33 ¾ 8.21 ¼ 244.00 32.25 4.25 ½ 4.56 ¼ 4.85
Est. FF Pos. 11,400 (14,100) 34,900 (24,100) (73,900) --- --- | |
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morning report from Country hedging
