USDA February World Agricultural Supply and Demand Estimates

Watch for potential volatility in

Agriculture equipment manufacturers (DE, AG, CNH)
Ethanol (ADM, ANDE, PEIX, VSE, AVR, USBE, BIOF, XNL)
Secondary ethanol plays (VRNM, MGPI and OTD)
Fertilizer (TRA, CF, POT, AGU, SYT, MOS)
Livestock (TSN, SFD, HRL)
Seed (MON).

In its February report, the USDA narrowed their corn price forecast for the 2007/08 crop season to $3.75-4.25 per bushel from $3.70-4.30 in January. March corn futures closed yesterday at $4.99 1/2. Wheat price forecast was unchanged at $6.45-6.85. March futures closed yesterday at $10.63. Soybeans price forecast was narrowed to $10.00-10.80 from $9.90-10.90. March soybeans futures yesterday closed at $13.34 1/4.