Market News & Headlines >> Dec. 1 Corn, Wheat Stocks Seen Up From 2022

USDA is expected to peg Dec. 1 corn and wheat stocks above a year earlier and report a modest drop in soybean stocks when it releases its quarterly Grain Stocks report on Friday morning.

Pre-report trade estimates of Dec. 1 corn stocks average 12.013 billion bushels in a range from 11.070-12.250 billion bushels, according to a Bloomberg News survey of 25 analysts. At the average of trade estimates, Dec. 1 corn stocks would be up 11.0% from the Dec. 1, 2022 stocks of 10.821 billion bushels.

Trade estimates of U.S. Dec. 1 soybean stocks average 2.977 billion bushels in a range from 2.900-3.039 billion. At the average of trade estimated, Dec. 1 soybean stocks would be down 1.5% from the Dec. 1 2022 stocks of 3.021 billion bushels.

Pre-report expectations for U.S. Dec. 1 wheat stocks average 1.391 billion bushels in a range from 1.272-1.466 billion. At the average of expectations, wheat stocks would be up 6.0% from the Dec. 1 2022 stocks of 1.312 billion bushels.