Market News & Headlines >> March 1 Corn, Soy Stocks Seen Higher than Last Year

Thursday morning’s USDA’s quarterly Grain Stocks report is expected to peg June 1 U.S. corn and soybean stocks above a year earlier, while June 1 wheat stocks are expected to be down more than 22%.

Pre-report trade estimates of June 1 U.S. corn stocks average 4.345 billion bushels in a range from 4.072-4.500 billion compared with June 1, 2021 stocks of 4.111 billion bushels and March 1, 2022 stocks of 7.850 billion, according to a Bloomberg News survey of 25 analysts. The average of trade estimates implies March-May corn disappearance of 3.505 billion bushels down 2.4% from 3.593 billion during the same period in 2020/21.

Trade expectations of June 1 soybean stocks average 954 million bushels in a range from 740 million-1.100 billion compared with June 1, 2021 stocks of 769 million bushels and March 1, 2022 stocks of 1.931 billion bushels. The average of trade expectations implies March-May soybean disappearance of 977 million bushels up 27% from 769 million bushels during the same period in 2020/21.

Trade estimates of June 1 U.S. wheat stocks average 655 million bushels in a range from 635-375 million compared with year-earlier stocks of 845 million bushels and March 1, 2022 stocks of 1.025 billion bushels. The average of trade estimates implies March-May wheat disappearance of 370 million bushels, down 23.9% from 486 million bushels during the same period of 2020/21.