USDA December crop reports

 USDA Reports
The United States Department of Agriculture compiles statical information in November on crop production and in December on supply and demand for those crops.  Here is a short summary on both.  Corn in the u.s. totaled 12.3 billion bushels and is projected to average $5.90-$6.90 per bushel on the farm. Soybeans in the u.s. totaled 3.05 billion bushels and is projected to average $10.70 to $12.70 per bushel.  My current farm prices would be $5.70 corn and $10.95 Soybeans. Changes made by these reports show projections of less exports and feed usage.  World production was up being the factor of less exports while chicken and beef production looks to use less feed with pork stable.  Another report will be issued in January that may revise those numbers and in March there will be a planting intention report that estimates acres planted to each crop.  It seems that most farmers are optimistic on grains going higher than today's prices with interest in what the march planted acres will show.  2011 had unusually high number of acres not planted or not harvested as a result of wet soils in the spring.  Planted acreage for 2012 should be larger with those going into production along with some acres that had been set aside for conservation now returning to crops.  Although we have enough grains produced for this year the markets will begin to focus on possible supplies for next year in the coming months and farmers will be deciding what acres to plant to which crops.