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

Source: USDA
Posted by: Information Services
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