Ending stocks for corn up since March report
By Diego Flammini, Farms.com
Now that the United States Department of Agriculture (USDA) released its World Agricultural Supply and Demand Estimates Report (WASDE), farmers and other ag-producers have a better understanding of how the markets could behave going forward.
Did you miss the April WASDE preview? If so, you can find it here.
The focus here will be on soybeans, wheat and corn.
Corn
When looking at corn, the April WASDE reported ending stocks at 1.827 billion bushels, up from March’s number of 1.777 billion bushels. Global corn ending stocks also saw an increase. April shows 188.5 million metric tons (MMT), up from 185.3 MMT reported in March.
Corn is projected to sell for between $3.55 and $3.85 per bushel. It’s currently selling for around $3.78 per bushel.
Soybeans
Soybeans in the April WASDE report are estimated at a 0.37 billion bushels ending stock, that’s a 15 million bushel dip from the March number of 0.385 billion bushels. Global ending stocks for soybeans are at 89.6 MMT in April, a small decrease from March’s 89.5 MMT.
The USDA estimates soybeans will sell for between $9.60 and $10.60 per bushel. Soybeans are currently selling for about $9.54 per bushel.
Wheat
Wheat’s ending stocks according to the April WASDE is expected to be somewhere in the 0.684 billion bushel range – down from March’s 0.691 billion bushel estimate. The global ending stocks is estimated at 197.2 MMT, a small decline from 197.7 MMT in March.
Wheat is expected to sell for between $6.00 and $6.10 per bushel. It currently sits around $5.18 per bushel.
The next WASDE report is scheduled for release on Tuesday, May 12th, 2015.
Join the conversation and tell us how the April WASDE report impacted your operation going forward.