USDA estimates of corn, soybean, and wheat stocks as of Dec. 1 were all a bit lower than forecasts ahead of yesterday’s Grain Stocks report: Corn stocks were 3 percent lower than expected, soybeans 2.5 percent lower, and wheat 1 percent.
For corn and soybeans, the smaller stocks values were due to 2022/23 production being lower than projected during the fall. USDA reduced harvested acreage for corn and soybeans and cut yield for soybeans.
Wheat used for feed has been higher than earlier forecasts, contributing to the slightly lower stocks value.
Quarterly stocks: Corn, soybeans, & wheat
Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.