As expected, the U.S. Department of Agriculture released bullish information in a number of reports published this morning.

2010 corn and soybean production and ending stocks were further reduced, with most of the numbers coming in at the lower end or even below trade estimates.

Corn production is pegged at 12.447 billion bushels, down from the December estimate of 12.54 billion. Soybean production comes in at 3.329 billion bushels, down from 3.375 billion in December, as the average soybean yield was decreased.

U.S. corn ending stocks are estimated at 745 million bushels, with soybean ending stocks at 140 million bushels. All-wheat ending stocks are projected at 818 million bushels.

Meanwhile, the U.S.D.A. says 40.99 million acres of winter wheat were seeded in the U.S. last fall, up 9.8 percent from last year.

~ Wednesday, January 12, 2011 ~