Market News & Headlines >> September 1 wheat stocks seen up 12.7% from 2014
Wednesday morning’s quarterly USDA Grain Stocks report should peg Sept. 1 corn, wheat and soybean stocks significantly above a year earlier, however, the grain trade is expecting soybean stocks to come in slightly below USDA’s current 2014-15 carryout estimates and corn stocks to come in slightly higher.
Trade estimates of Sept. 1 corn stocks average 1.739 billion bushels in a range from 1.647-1.850 billion bushels versus Sept. 1, 2014 stocks of 1.232 billion, according to a Reuters News Service survey. The average of trade estimates is a marginal 7 million bushels above USDA’s current 2015-16 ending stocks forecast.
September 1 soybean stocks estimates average 205 million bushels in a range from 165-250 million bushels. The average of trade estimates is 5 million bushels below USDA’s current 2015-16 carryout estimate, but 113 million above the Sept. 1, 2014 stocks level.
USDA is expected to peg Sept. 1 wheat stocks 12.7% above a year earlier at the highest level in five years. Trade estimates of wheat stocks average 2.149 billion bushels in a range from 1.987-2.285 billion compared with Sept. 1 2014 stocks of 1.907 billion.