USDA: Quarterly US Soybean, Wheat Stocks Above Expectations
Wheat
Grains, Cereal & Legumes
United States
Market & Price Trends
Published Mar 29, 2024
Tridge summary
The USDA's quarterly grain stocks report for March 1, 2024, shows mixed results for major crops compared to market expectations. Soybean and wheat stocks have surpassed forecasts, with soybeans at 50.35 million tons and wheat at 29.66 million tons. However, corn stocks did not meet anticipated levels, coming in at 212.1 million tons, below the expected 214.06 million tons. This report underscores a significant year-over-year growth in the stock levels of these key agricultural commodities, indicating shifts in supply dynamics.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
This Thursday (28), the USDA (United States Department of Agriculture) brought its quarterly grain stocks report as of March 1, 2024, bringing soybean and wheat numbers above average expectations and those of corn, below. Soybean stocks were reported by the department at 50.35 million tons, against the average market projections of 49.75 million tons. In March 2023, the number was 45.91 million tons. Of corn, stocks are 212.1 million tons. Market expectations had an average of 214.06 million tons and, a year ago, the number was 187.87 ...
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