(Brownfield) – Ahead of Friday’s USDA supply and demand update, analysts on average see month to month rises in ending stocks for U.S. soybeans and wheat against a smaller supply of corn.
According to Dow Jones Newswires, on average, the 16 analysts surveyed see corn stocks at 838 million bushels, compared to 843 million in November’s update and 1.128 billion this time last year. Estimates range from 712 million to 899 million bushels.
Soybeans are pegged at 213 million bushels, compared to 195 million a month ago and 215 million a year ago. Pre-report expectations run from 195 million to 247 million bushels.
For wheat, 15 analysts see ending stocks at 830 million bushels, compared to 828 million last month and 862 million last year. Projections range from 731 million to 867 million bushels.
The estimates will largely be dependent on how USDA views export demand, with corn also watching feed demand and soybeans keeping an eye on crush projections. USDA will also be updating global supply, demand, and production numbers.
The numbers are out Friday, December 9 at 7:30 AM Central.