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Friday, August 10, 2007

Ahead of the Bell: USDA Crop Report

Wall Street will be watching for the U.S. Department of Agriculture's report on Friday, which estimates the size of the country's corn and soybean crops. Banc of America Securities analyst Eric K. Brown expects substantially higher corn prices in 2008 and 2009, based on sharply higher ethanol capacity. Specifically, Brown forecast corn prices of $3.49 per bushel in 2008 and 2009, versus $3 per bushel in 2007 and 2008. More here. Wheat production will also be up from last year, but will be less than USDA predictions. More here.

Follow Up (08/10): The full text of the World Agricultural Supply and Demand Estimates Report can be found here.

posted by CASFS 2006 @ 6:02 AM

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