Market News & Headlines >> World Soybean and Wheat Stocks Seen Up
USDA is expected to make only modest changes to its estimates of 2016/17 world corn, soybean and wheat ending stocks in Wednesday morning’s monthly supply/demand update.
Pre-report trade estimates of the 2016/17 world corn carryout average 218.32 million metric tons in a range from 208.00-225.30 million, compared with USDA’s September forecast of 219.46 million tons, according to a survey of 15 analysts.
On average, trade expectations are for USDA to raise its estimate of this year’s world soybean carryout to 73.28 million tons from 72.17 million tons in September. Pre-report estimates of soybean stocks range from 71.15-74.90 million tons.
Trade estimates of the world wheat carryout average 249.72 million tons in a range from 246.00-252.70 million tons compared with USDA’s September estimate of 249.07 million.