Market News & Headlines >> USDA Seen Raising Stocks Estimates
The grain trade is expecting higher 2105/16 U.S. carryout estimates for corn, soybeans and wheat from USDA when the agency releases its monthly supply/demand report on Wednesday morning.
Sluggish corn and wheat export sales could lead to further reductions in USDA’s forecasts for 2015/16 exports.
Trade estimates of the U.S. corn carryout average 1.854 billion bushels, 17 million above USDA’s February estimate, in a range from 1.812-1.887 billion bushels, according to a survey of 15 analysts by Reuters News Service.
Pre-report expectations for the U.S. wheat carryout average 975 million bushels, 9 million above USDA’s February forecast, in a range from 951-991 million.
Trade estimates of the U.S. soybean carryout average 452 million bushels, only 2 million above USDA’s February estimate in a range from 440-466 million.