Market News & Headlines >> Lower Corn, Soybean, Wheat Stocks Expected

USDA is expected to peg June 1 U.S. stocks of corn, soybeans and wheat below a year ago despite coronavirus-related demand disruptions this spring, when it releases its latest quarterly Grain Stocks report on Tuesday morning. 

Pre-report trade estimates of March 1 corn stocks average 4.959 billion bushels in a range from 4,795-5.250 billion compared with year-earlier stocks of 5.202 billion and March 1, 2020 stocks of 7.953 billion bushels, according to a Bloomberg News survey of 29 analysts. 

The average of trade corn stocks estimates implies March-May corn disappearance of 3.002 billion bushels, 415 million bushels or 12.1% below a year earlier. 

Trade estimates of March 1 soybean stocks average 1.391 billion bushels in a range from 1.160-1.725 billion bushels compared with year-earlier stocks of 1.783 billion and March 1, 2020 stocks of 2.253 billion bushels. 

The average of trade soybean stocks estimates implies March-May soybean disappearance of 866 million bushels, 82 million bushels or 8.6% below a year earlier. 

Pre-report expectations for March 1 wheat stocks average 987 million bushels in a range from 963 million-1.085 billion bushels compared with year-earlier stocks of 1.080 billion and March 1, 2020 stocks of 1.412 billion bushels. 

The average of trade wheat stocks estimates implies March-May wheat disappearance of 456 million bushels, 88 million bushels or 16.2% below a year earlier.