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

 MINNEAPOLIS, June 10 /PRNewswire/ -- Following the close of the futures trading this afternoon, the United States Department of Agriculture released its 1992-93 ending stocks and world crop production reports:
 USDA 1993 US winter wheat production for all winter was reported at 1.824 billion bushels: Hard Red Winter 1.143 billion bushels, Soft Red Winter .4289 billion bushels and White Winter .2521 billion bushels.
 1993-94 ending stocks figures for major grains were estimated at: soybeans 265 million bushels, corn 2.188 billion bushels and wheat 660 million bushels. May 92-93 carryout stood at: soybeans 325 million bushels, corn 2.113 billion bushels and wheat 510 million bushels.
 Minneapolis Grain Exchange futures traders reaction:
 Helen Pound, Goldenberg, Hehmeyer & Co. 612-332-6473
 There were very few changes in this month's USDA Supply/Demand report. As expected, bean carryover declined 15 million bushels and corn stocks were left unchanged. While there were several end-of-season adjustments in 1993 wheat usage resulting in an 11 million cut in wheat carryover stocks, carryover for the 1993-94 crop was almost unchanged. Stocks for 1993-94 reflect a relatively burdensome wheat supply. Carryover is at 27 percent of usage. I expect drier, warmer weather promoting winter wheat harvest activity and slow export demand to have a bigger negative impact on wheat prices than this crop report.
 David Baxter, Country Hedging, Inc. 612-333-6231
 Today's USDA report offerd few surprises. The USDA's Winter Wheat crop estimate was below the average trade guess but still an increase from last month and last year. The estimate of the Soft Red Winter wheat crop was lowered while the estimates for the Hard Red Winter and Soft Red Winter crops were increased. Supplies of wheat, either domestic or world-wide are more than adequate to meet demand. Expect to see exporting nations very aggressive as the northern hemisphere harvest expands.
 -0- 6/10/93
 /CONTACT: Albert Maruggi, marketing and public relations director, 612-338-6212, of Minneapolis Grain Exchange/


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

DB -- MN026 -- 0863 06/10/93 17:58 EST
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Date:Jun 10, 1993
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