Market News & Headlines >> USDA Expected to Lower Corn, Soy Carryout Estimates

USDA is expected to lower its estimates of 2022/23 U.S. corn and soybean ending stocks in Tuesday’s monthly Supply/Demand report based on lower-than-expected March 1 stocks, while raising its estimate of U.S. wheat ending stocks slightly.

On average, the grain trade expects USDA to peg the 2022-23 U.S. corn carryout at 1.319 billion bushels, down 23 million from its March carryout forecast of 1.342 billion, according to a Reuters News Service survey of 20 analysts. Trade estimates range from 1.242-1.392 billion bushels.

The trade on average expects USDA to peg the 2022-23 U.S. soybean carryout at only 198 million bushels, 12 million below USDA's March estimate. Trade expectations range from 170-225 million bushels.

On average, the trade expects USDA to peg the 2022-23 U.S. wheat carryout at 574 million bushels, 6 million above the agency’s March estimate. Trade expectations range from 553-598 million bushels.