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USDA Reports Flash- Higher New Corn, Soybean Ending Stocks Projected

USDA Reports Flash- Higher New Corn, Soybean Ending Stocks Projected

OMAHA — In one of the first supply and demand forecasts for crops that largely still need a window for planting, USDA projected 2.485 billion bushels of ending stocks for corn and 970 million bushels of soybeans ending stocks in the 2019-20 crops.

USDA released its monthly World Agricultural Supply and Demand estimates on Friday. The report offered early estimates at the 2019-20 new-crop production and ending stocks estimates for corn, soybeans and wheat.

USDA also has made some modifications to the new report. Under price forecasts for crops, USDA will no longer forecast a price range, but a single mid-point price. In world ending stocks, USDA will provide a new line forecasting ending stocks “World less China.” The list of major exports also eliminates the “Former Soviet Union” designation of countries.

You can also access the full reports here:

— Crop Production: https://www.nass.usda.gov/…

— World Agricultural Supply and Demand Estimates (WASDE): http://www.usda.gov/…

U.S. ENDING STOCKS (Million Bushels) 2018-2019
May Avg High Low Apr 2017-18
Corn 2,095 2,061 2,216 1,935 2,035 2,140
Soybeans 995 925 1,038 880 895 438
Wheat 1,127 1,100 1,187 1,086 1,087 1,099
U.S. ENDING STOCKS (Million Bushels) 2019-20
May Average High Low Outlook
Corn 2,485 2,142 2,506 1,694 1,650
Soybeans 970 943 1,524 786 845
Wheat 1,141 1,073 1,173 980 944
WORLD ENDING STOCKS (Million metric tons) 2018-2019
May Avg High Low Apr 2017-18
Corn 325.9 315.5 318.0 313.4 314.0 340.4
Soybeans 113.2 109.0 115.7 107.0 107.4 99.1
Wheat 275.0 276.1 277.5 274.1 275.6 281.9
WORLD ENDING STOCKS (million metric tons) 2019-20
May Avg. High Low
Corn 314.7 304.00 329.00 271.20
Soybeans 113.1 113.00 143.10 100.00
Wheat 293.0 272.80 285.00 230.00
WORLD PRODUCTION (million metric tons) 2018-19
May Avg High Low Apr 2017-18
CORN
Argentina 49.0 48.2 50.0 46.5 47.0 32.0
Brazil 100.0 96.6 98.5 95.0 96.0 82.0
SOYBEANS
Argentina 56.0 55.8 57.0 55.0 55.0 37.8
Brazil 117.0 116.9 116.0 118.0 117.0 120.8
WHEAT PRODUCTION (million bushels) 2019-20
M ay Avg. High Low 2018-19
All Wheat 1,884 1,920 2,044 1,821 1,884
All Winter 1,270 1,287 1,400 1,194 1,184
Hard Red 780 779 905 662 662
Soft Red 265 277 302 250 286
White 22 236 270 201 236
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