Market News & Headlines >> USDA expected to forecast continued tight corn, soybean stocks
USDA is expected to forecast that U.S. corn and soybean ending stocks will remain very tight at the end of the upcoming marketing year, and project wheat stocks will be tighter, when it releases its first monthly supply/demand estimates for 2021/2 on Wednesday morning.
Trade expectations for 2021/22 U.S. corn ending stocks average 1.344 billion bushels in a range from 1.100-1.622 billion bushels, according to a Reuters News Service survey. Pre-report expectations for 2020/21 ending stocks average 1.275 billion bushels in a range from 1.135-1.361 billion compared with USDA’s April estimate of 2020/21 ending stock at 1.352 billion bushels.
Pre-report expectations for 2021/22 U.S. soybean ending stocks average 138 million bushels in a range from 110-230 million bushels. Trade expectations for 2020/21 ending stocks average 117 million bushels in a range from 105-120 million compared with USDA’s April forecast of 120 million bushels.
On average, the trade expects USDA to peg 2021/22 U.S. wheat ending stocks at 730 million bushels, with estimates ranging from 644-837 million bushels. USDA is expected to peg 2020/21 wheat ending stocks at 846 million bushels, with pre-report estimates ranging from 827-862 million bushels.