Market News

Trade sees increase in corn, soybean ending stocks

Ahead of Wednesday’s USDA supply and demand update, analysts see bigger supplies of corn and soybeans against a tighter balance sheet for wheat.

The average guess for corn ending stocks is 795 million bushels, compared to 672 million last month, following the recent much larger than expected quarterly stocks estimate. Expectations run from 646 million to 989 million bushels.

Soybean ending stocks are pegged at 181 million bushels, compared to 165 million a month ago, due to a larger quarterly figure and a potential increase in the crop estimate. The range of estimates is 153 million to 255 million bushels.

Wheat ending stocks are seen at 747 million bushels, compared to 761 million in September’s update, with projections ranging from 674 million to 810 million bushels.

The numbers are out Wednesday at 7:30 AM Central.