Ahead of the Bell: Crop report (AP)

Friday October 10, 6:02 am ET Analysts expect USDA to report higher wheat, corn, soybean stockpiles; may help limit prices WASHINGTON (AP) -- Analysts expect the Agriculture Department to increase its estimate of wheat, corn and soybean stockpiles for this year, potentially keeping a lid on prices. The department will likely boost its forecast of wheat stockpiles to 600 million bushels, up from 574 million in September, according to Joe Victor, vice president for marketing at Allendale Inc., a commodities broker based in McHenry, Ill. The department's October estimate of corn stocks will likely increase to 1.1 billion bushels from 1.01 billion, while soybean stocks are expected to rise to 197 million from 135 million, he said. The report is to be released Friday at 8:30 a.m. EDT. The department also is expected to slightly... [read full story]