Ahead of Friday’s USDA quarterly grain stocks update, analysts, on average, expect tighter year to year supplies of corn and soybeans against a slight increase in wheat.
Via Dow Jones Newswires, U.S. corn stocks as of December 1 are estimated at 8.210 billion bushels, compared to 988 million on September 1, 2012 and 9.647 billion on December 1, 2011. Analysts’ expectations range from 8.050 billion to 8.450 billion bushels.
Soybean stocks in all positions are pegged at 1.984 billion bushels, compared to 169 million the previous quarter and 2.370 billion a year ago. Projections run from 1.915 billion to 2.056 billion bushels.
Wheat stocks are seen at 1.674 billion bushels, compared to 2.104 billion last quarter and 1.663 billion last year. Estimates range from 1.553 billion to 1.721 billion bushels.
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