USDA Releases Domestic and World Ending Stocks NumbersTue, 11 Dec 2012 08:45:47 CST
In the December 11, 2012 Ending Stocks report, USDA showed a larger than expected increase to the domestic wheat ending stocks estimate, soybeans were slightly more than expected with corn mostly unchanged.
USDA projections show wheat ending stocks for the 2012/13 marketing year at 754 million bushels, compared to 704 million a month ago. The average estimate was 718 million bushels and a year ago, wheat ending stocks were at 743 million bushels.
Corn ending stocks were 647 million bushels, which was unchanged from a month ago but below the 988 million this time last year. The pre-report estimate was for an increase of 666 million bushels.
Soybean ending stocks came in at 130 million bushels. The pre-report estimates were 135 million bushels. This time last year, soybean ending stocks were seen at 169 million bushels.
As far as world numbers, USDA tightened the balance sheets for corn, soybeans and wheat. World wheat production increased by a little less than 4 million tons.
The global corn crop estimate was raised by nearly 10 million tons but came in at 117.61, just slightly less than November. USDA raised the global soybean production outlook only slightly.
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