Report snapshot: higher U.S. and global corn ending stocks

USDA’s March WASDE showed corn domestic and global ending stocks above pre-report estimates, while soybeans and wheat were each slightly lower than expectations.

usda
usda
(USDA)

Expectations for
U.S. Carryover

Corn – billion bushels

2022-23

USDA

1.342

Average est.

1.308

USDA February

1.267

USDA 2021-22

1.377

Soybeans – million bushels

2022-23

USDA

210

Average est.

220

USDA February

225

USDA 2021-22

274

Wheat – million bushels

2022-23

USDA

568

Average est.

573

USDA February

568

USDA 2021-22

600

Cotton – million bales

2022-23

USDA

4.30

Average est.

4.26

USDA February

4.30

USDA 2021-22

3.75

Global Carryover

Corn – MMT

2021-22

2022-23

USDA

305.69

296.46

Average est.

NA

293.17

USDA February

306.28

295.28

Soybeans – MMT

2021-22

2022-23

USDA

99.00

100.01

Average est.

NA

100.28

USDA February

98.83

102.03

Wheat – MMT

2021-22

2022-23

USDA

271.45

267.20

Average est.

NA

269.44

USDA February

276.70

269.34

Cotton – million bales

2021-22

2022-23

USDA

86.11

91.15

Average est.

NA

89.07

USDA February

85.24

89.09