Market News & Headlines >> Dec. 1 Grain Stocks Seen Down on Smaller Crop Production

USDA’s quarterly Grain Stocks report due out Thursday morning at 11:00 a.m. CT is expected to peg Dec. 1 U.S. corn, soybean and wheat stocks below a year earlier after adverse weather cut U.S. production levels in 2022.

Trade estimates of Dec. 1 corn stocks average 11.153 billion bushels in a range from 10.737-11.937 billion bushels compared with Dec. 1, 2021 corn stocks of 11.642 billion bushels, according to a Reuters News Service survey of 20 analysts. At the average of trade expectations, corn stocks would be down 4.2% from a year earlier.

Pre-report estimates of Dec. 1 soybean stocks average 3.132 billion bushels in a range from 3.000-3.220 billion compared with Dec. 1, 2021 stocks of 3.152 billion bushels. At the average of trade estimates soybean stocks would be down 0.6% from a year earlier.

Pre-report expectations for Dec. 1 U.S. wheat stocks average 1.344 billion bushels in a range from 1.295-1.429 billion bushels compared with Dec. 1, 2021 stocks of 1.378 billion bushels. At the average of estimates, wheat stocks would be down 2.5% from a year earlier.