Market News & Headlines >> Grain, Soybean Stocks Seen Larger
Tuesday morning’s quarterly USDA Grain Stocks report is expected to show Dec. 1 soybean and wheat stocks up significantly from a year earlier, with corn stocks up slightly despite a smaller corn crop in 2015.
Trade estimates of Dec. 1 soybean stocks average 2.720 billion bushels, 7.6% above the Dec. 1, 2014 stocks of 2.528 billion, in a range from 2.590-2.850 billion bushels. If Dec. 1 soybean stocks were to come in at 2.720 billion bushels, they would be record large for the date, surpassing the previous high of 2.701 billion bushels recorded in 2006.
Pre-report estimates of Dec. 1 all-wheat stocks average 1.698 billion bushels, 11% above the Dec. 1, 2014 stocks of 1.530 billion, in a range from 1.670-1.732 billion bushels. If Dec. 1 wheat stocks were to come in at 1.698 billion bushels, they would be the largest for the date since 2010, when stocks were 1.933 billion bushels.
Trade expectations for Dec. 1 corn stocks average 11.237 billion bushels, 0.02% above the Dec. 1, 2014 stocks of 11.211 billion, in a range from 11.073-11.440 billion bushels. If Dec. 1 corn stocks top last year’s level, they would be the largest on record for the date.