Market News & Headlines >> Only Minor Adjustments to World Grain/Soy Stocks Likely

USDA is expected to make only minor adjustments to its forecasts of 2019/20 world corn, soybean and wheat ending stocks in Tuesday morning’s monthly supply/demand report. 

Trade estimates of the 2019/20 world corn carryout average 297.19 million metric tons in a range from 295.00-299.50 million tons, compared with USDA’s January estimate of 297.81 million tons, according to a Reuters News Service survey of 17 analysts. 

Pre-report estimates of the world soybean carryout average 96.90 million metric tons in a range from 94.20-99.30 million, compared with USDA’s January projection of 96.67 million. 

Trade expectations for the world wheat carryout average 287.44 million metric tons in a range from 285.00-288.80 million tons, compared with USDA’s January forecast of 288.08 million. 

USDA could potentially raise its estimate of Brazil’s soybean crop slightly based on strong early harvest results. Trade estimates of Brazilian soybean production average 123.65 million metric tons in a range from 122.50-125.00 million tons compared with USDA’s January estimate of 123.00 million.