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USDA RELEASES 1992-93 ENDING STOCKS AND WORLD CROP PRODUCTION REPORTS PROVIDED BY: MINNEAPOLIS GRAIN EXCHANGE

 MINNEAPOLIS, Oct. 12 /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:
 USDA 1993 U.S. All Wheat production was reported at 2.422 billion bushels. Soybean production was reported at 1.891 billion bushels while the corn production was reported at 6.962 billion bushels.
 1993-94 ending stocks figures for major grains were estimated at: wheat .693 billion bushels, soybeans .205 billion bushels, and corn 1.085 billion bushels.
 USDA World Supply/Demand report for 1993-94 estimates showed former USSR grain crop at 192.3 million tons while former USSR grain imports came in at 29.0 million tonnes.
 Reaction By Futures Traders From The Minneapolis Grain Exchange (Helen Pound, Goldenberg, Hehmeyer & Co. 612-332-6473):
 Cuts in crop production estimates for corn, beans, and wheat were the feature of the USDA October Supply/Demand report. For the last several weeks there has been much discussion among traders about how much the government would lower production estimates. Lower than anticipated cuts in the corn and wheat numbers initially lead analysts to characterize the report as bullish on corn and wheat prices. But the reduction in wheat supplies was matched by a reduction in demand. Crop report impact should be neutral on wheat and beans, and bullish on corn.
 -0- 10/12/93
 /CONTACT: Albert Maruggi, marketing and public relations director of Minneapolis Grain Exchange, 612-338-6212/


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

CP-DB -- MN014 -- 1364 10/12/93 18:11 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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