Market News & Headlines >> Grain, Soy Ending Stocks Seen Up
Thursday’s monthly supply/demand update from USDA is expected to raise projected 2014-15 U.S. ending stocks for corn, soybeans and wheat.
This year’s corn and soybean carryout stocks are expected to rise primarily because of large production, while U.S. wheat stocks could be raised slightly due to poor export demand.
Trade estimates of 2014-15 corn ending stocks average 2.012 billion bushels in a range from 1.811-2.421 billion compared with USDA’s August estimate of 1.808 billion bushels, according to a survey of 19 analysts by Reuters News Service.
USDA is also expected to raise its old-crop corn carryout slightly, with estimates of 2013-14 ending stocks averaging 1.191 billion bushels, 10 million above USDA’s August forecast, in a range from 1.136-1.231 billion bushels.
Pre-report estimated of 2014-15 soybean ending stocks average 453 million bushels in a range from 353-495 million, versus USDA’s August forecast of 430 million bushels. A small decline in old-crop soybean stocks is anticipated with estimates of the 2013-14 carryout averaging 136 million bushels, 4 million below USDA’s August estimate, in a range from 119-142 million bushels.
Trade expectations for 2014-15 wheat ending stocks average 667 million bushels, a modest 4 million above USDA’s August forecast, in a range from 625-716 million bushels.