Market News & Headlines >> USDA Seen Raising Grain, Soy Ending Stocks Slightly
USDA is expected to raise its forecasts for 2022/23 U.S. corn, soybean and wheat ending stocks slightly in Wednesday’s monthly Supply/Demand report due to slower-than-expected demand.
Pre-report trade estimates of the 2022/23 U.S. corn carryout average 1.207 billion bushels in a range from 1.050-1.390 billion compared with USDA’s October estimate of 1.172 billion bushels. USDA could potentially lower projected U.S. corn exports for a second straight month due to the current slow pace of export sales and shipments.
Trade expectations for the U.S. soybean carryout average 212 million bushels in a range from 185-295 million bushels compared with USDA’s October estimate of 200 million bushels.
Trade estimates of the U.S. wheat carryout average 578 million bushels, just 2 million above USDA’s October forecast, in a range from 541-606 million bushels.