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FEBRUARY 10 USDA CROP REPORT REACTION PROVIDED BY: MINNEAPOLIS GRAIN EXCHANGE

 MINNEAPOLIS, Feb. 10 /PRNewswire/ -- Following the close of futures trading this afternoon, the United States Department of Agriculture released its 1992-93 ending stocks and world crop production reports.
 1992-93 ending stocks figures for major grains were estimated at: soybean 355 million bushels, corn 2.237 billion bushels and wheat 506 million bushels. January 92-93 carryout stood at: soybeans 355 million bushels, corn 2.247 billion bushels and wheat 506 million bushels.
 The former USSR grain production was estimated at 185.0 million tons, while former USSR grain imports came in at 29.6 million tons for 1992-93. The USDA also reported Australia wheat production is estimated at 15.0 million tons and Argentina wheat is estimated to be 9.2 million tons.
 Minneapolis Grain Exchange futures traders reaction:
 Wes Oja, Country Hedging, 612-641-1550
 "Today's USDA report offered a bit of a surprise to the trade. The increase in wheat imports and the decrease in food use were the factors to the 20 million bushel increase in carryout. The trade has been anticipating a decrease in exports rather than anything else. The general consensus is for the next month's report to decrease the export figure and further increase carryout. Expectations are for a lower open tomorrow.
 The wheat supply situation should continue to become more clear as far as the new crop is concerned. Given the present situation of zero percent set-aside, an excellent start for the winter wheat crop, and ample moisture in both the DNS and SWW growing areas, we should see price rallies in the new crop contracts remain limited.
 Helen Pound, Goldenberg, Hehmeyer & Co., 612-333-6473
 Lack of aggressive wheat export interest is probably a bigger market factor than news in this crop report.
 Analyst's reactions to today's USDA Supply/Demand Report are focusing more on international factors than on changes in the United States scenario. Analysts expect soybean and wheat futures to trade lower on Thursday's futures session. Corn futures are expected to be unchanged.
 The USDA increased wheat production estimates for Australia and Argentina almost two million tons. In addition, the former-USSR grain crop was increased 2.5 million tons, this resulted in a 00.5 million ton decrease in expected exports to the former-USSR.
 Carryover in the United States wheat crop was increased 20 million bushels. Hard Red winter wheat exports decreased 10 million bushels, while Hard Red Spring wheat and Durum wheat production was increased.
 -0- 2/10/93
 /CONTACT: Colleen Smith, public relation director of the Minneapolis Grain Exchange, 612-338-6212/


CO: Minneapolis Grain Exchange ST: Minnesota IN: SU:

TM-LD -- NY115 -- 5443 02/10/93 19:53 EST
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Date:Feb 10, 1993
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