USDA released today the latest World Agricultural Supply and Demand Estimates (WASDE) report.
2022/2023 U.S. ENDING STOCKS
The WASDE report pegged the U.S. 2022/2023 corn ending stocks at 1.267 billion bushels. This is above the trade’s estimate of 1.266 billion bushels and USDA's January estimate of 1.242 billion bushels.
For soybeans, the U.S. ending stocks were 225 million bushels, exceeding both the trade’s expectation of 211 million bushels and USDA’s January estimate of 210 million bushels.
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USDA pegged the U.S. wheat ending stocks at 568 million bushels, slightly above January’s estimate of 567 million bushels but below the trade’s expectation of 576 million bushels.
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