USDA made no changes to the 2020/21 U.S. corn balance sheet in the March WASDE. Ending stocks remain forecast at a multiyear low of 1.502 billion bushels, exports at record 2.600 billion bushels, and domestic use at 12.025 billion bushels, a five-year low.
Globally, 2020/21 corn ending stocks rose by about 1.1 MMT on higher output from India, South Africa, and Bangladesh, partly offset by a smaller Mexican crop.
For U.S. soybeans, there were no changes to 2020/21 ending stocks, production, export, or domestic use. Ending stocks are still seen at a multiyear low of 120 million bushels, and exports at a record2.250 billion bushels.
World 2020/21 soybean ending stocks were raised by 380,000 MT as carry-in was increased by almost 1.2 MMT and 2020/21 production by 740,000 MT. The increases to 2020/21 carry-in and production were partially offset by slightly higher 2020/21 usage.
U.S. corn demand by category, by season
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.