News

USDA to adjust production, stocks estimates on the 10th

The USDA’s next set of supply, demand, and production numbers Tuesday could show lowered projections for U.S. corn and soybean production and tighter ending stocks.

On average, most analysts are expecting at least some reduction in this year’s corn and soybean production and yield estimates as harvest results continue to come in ahead of the official USDA totals in January.

Those lower production estimates along with continued strong domestic and export demand for corn and soybeans are expected to draw down the carryover projections, which are already well below the initial estimates from only a few months ago.

U.S. wheat ending stocks are expected to be about steady with October.

The USDA could also adjust several key international supply and demand numbers, including South American corn and soybean production, global wheat production, and import estimates for China.

The numbers are out November 10th at Noon Eastern/11 Central.