Reuters Polls Analysts for Pre-Stocks Report Guesses

Reuters has polled 17 analysts ahead of the Quarterly Grain Stocks report due out Friday. The analysts expect USDA’s report will show stocks as of September 1 – also the ending stocks for the 2011-12 marketing year – at 1.113-billion bushels. That would mark the lowest supply of corn on that date in eight years. USDA pegged 2011-12 ending stocks at 1.181 in the World Agricultural Supply and Demand Estimates released earlier this month.

Jefferies Bache analyst Shawn McCambridge provided the highest estimate to Reuters at 1.261-billion bushels. With the quick maturity and fast harvest – McCambridge believes more than a billion bushels went to market before the end of the crop year. He says that is going to complicate things. The lowest estimate Reuters saw from analysts was 887-million. That would fall below the 958-million bushel figure of 2003-04. The estimate comes from Roy Huckabay of the Linn Group – who said he was not accounting for any of the early harvested corn.

The Reuters poll showed U.S. wheat stocks on September 1 at 2.278-billion bushels – up from 2.147-billion a year ago – and soybean stocks at 131-million – down from 215-million a year ago. is dedicated to serving the agricultural industry in the Carolinas and Virginia with the latest ag news, exclusive regional weather station readings, and key crop market information. The website is a companion of the Southern Farm Network, provider of daily agricultural radio programming to the Carolinas since 1974. presents radio programs, interviews and news relevant to crop and livestock production and research throughout the mid-Atlantic agricultural community.