date:Jul 25, 2012
the projection, leading to slightly smaller stocks at the end of the current marketing year than now being projected.
What about production? In the July 11 WASDE report, the USDA judged the U.S. average yield potential at 40.5 bushels and production at 3.05 billion bushels, about equal to last years crop. Crop conditions have declined sharply during July, but there is still a perception that average yields could still be decent if weather turned more favorable from now through August. In the