The USDA released the latest WASDR report.
For corn, the USDA pegged the U.S. 2022-23 projected ending stocks at 1.219 billion bushels. This is above the trade estimate of 1.180 billion bushels but a far cry from USDA’s August estimate of 1.388 billion bushels.
For soybeans, the U.S. ending stocks were 200 million bushels, far below trade’s expectation of 240 million bushels and USDA’s August estimate of 245 million bushels.
For corn, the USDA pegged the U.S. 2021-22 projected ending stocks at 1.525 billion bushels vs. the trade estimate of 1.537 billion bushels and the August USDA estimate of 1.530 billion bushels.
For soybeans, the U.S. ending stocks were 240 million bushels vs. the trade that expected the USDA to print 233 million bushels today. In August, the USDA’s estimate was 225 million bushels.
USDA estimates wheat ending stocks will be 660 million bushels.
