date:Nov 13, 2012
s are now estimated to be 647 million bushels only 5.8% of total usage. That figure is the third lowest ever slightly higher than last years 5.6% and the 5.0% of 95-96.
USDA lowered its estimated price range by 15 cents on the bottom and 25 cents on the top to bring the mid-point down to $7.60 per bushels. That compares to $7.80 last month.
USDA increased the estimated yield to 39.3 bushels per acre, over 1 bushel higher than was expected by analysts. The increase drove estimated productio