Record production and total supply and record off take with a modest increase in carry out stocks. The crop will be near 2.8 billion bushels and total supply will exceed 3.1 billion bushels. On the use side of the ledger, increased domestic crush will more than off set a slight reduction in exports providing a total use level of nearly 2.75 billion bushels. The market has most likely posted its seasonal low and a slow grinding uptrend should evolve. Consider claiming the POP or LDP soon.
Current market carry in the deferred futures contracts make storage attractive.
Back to Soybean Outlook Wheat Market Outlook - New crop July 2001 wheat futures provide little incentive for Georgia farmers to get excited about growing wheat this winter. Futures prices have remained within a 30 cent range since June but have traded with more volatility over the last two months. While the world wheat stocks are declining, the U.S. stocks remain stubbornly high and that will limit upside potential unless traders sense a weather problem with the crop. Back to Wheat Outlook Dairy Outlook. While there is no relief in sight for higher milk prices, there is some help on the way.