Market News & Headlines >> Dec. 1 Wheat Stocks Seen Down; Corn, Soy Stocks Up
USDA’s quarterly Grain Stocks report due out Wednesday morning is expected to peg Dec. 1 U.S wheat stocks nearly 17% below a year earlier, while showing larger corn and soybean stocks.
Pre-report trade estimates of Dec. 1 wheat stocks average 1.415 billion bushels, 16.9% below the year-earlier stocks of 1.703 billion, in a range from 1.315-1.680 billion bushels, according to a Bloomberg News survey of 25 analysts.
Trade expectations for Dec. 1 corn stocks average 11.607 billion bushels, 2.8% above the year-earlier stocks of 11.294 billion, in a range from 11.200-11.951 billion bushels.
Pre-report expectations for Dec. 1 soybean stocks average 3.128 billion bushels, 6.1% above the year-earlier stocks of 2.947 billion bushels.