USDA Lowers Grain Stocks Predictions
global corn stocks will end year at lowest since 2006-07
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November 10, 2010
Blackburn Agri-Media
The USDA says global ending wheat stocks will be down by 2.2 million tons.
US stocks are projected at 5 million bushels lower stocks in China are projected at 3.4 million tons lower and Russian year-ending stocks are down by 1 million tons.
The USDA says those drops will be partly offset by higher projected ending wheat stocks for Australia, Egypt, Argentina and Paraguay.
Global coarse grain supplies are projected 3.3 million tons lower. That includes a 75 million bushel cut in corn stocks in the US. The USDA says world corn stocks will end the year at their lowest since 2006-07.
And soybean ending stocks are projected at 185 million bushels – down 80 million from last month. Global oilseed production for 2010-11 is projected to be up about .1 million bushels. That includes increases for Brazil, Argentina, India and South Africa partly offsetting the US reduction.
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