USA: 24/25 soybean ending stocks up, wheat down, corn steady

Published Jun 13, 2024

Tridge summary

The USDA has updated its crop projections, increasing the ending stocks for soybeans for the 2024/25 crop to 455 million bushels, a 10 million bushel rise, while reducing wheat ending stocks to 758 million bushels. Corn projections remained the same. Global changes include a slight reduction in Brazil's soybean production forecast by 1 million tons to 153 million, but no changes to South American corn or Black Sea wheat production. The USDA will release new supply and demand estimates on July 12th.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA raised the new crop ending stocks projection for soybeans, while lowering wheat and leaving corn unchanged.The 10 million bushel month-to-month rise for the 2024/25 soybean carryout to 455 million bushels followed a 10 million bushel reduction in 2023/24 crush to 2.29 billion bushels, with no other changes to either balance sheet.2024/25 wheat ending stocks were down 8 million bushels to 758 million with an increase for export demand, up 25 million bushels to 800 million, canceling out a higher winter wheat production guess, with the total crop now seen at 1.875 billion bushels, compared to 1.858 billion a month ago.Old and new crop corn ending stocks had no adjustments, holding at 2.022 billion for 2023/24 and 2.102 ...
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