Report Snapshot: U.S. Carryover Cuts Offer Plenty of Fodder for Bulls

Posted on 06/12/2018 11:07 AM

U.S. Carryover

Corn – billion bushels

 

2017-18

2018-19

USDA

2.102

1.577

Average est.

2.166

1.663

USDA May

2.182

1.682

 

Soybeans – million bushels

 

2017-18

2018-19

USDA

505

385

Average est.

522

417

USDA May

530

415

 

Wheat – billion bushels

 

2017-18

2018-19

USDA

1.080

0.946

Average est.

1.079

0.958

USDA May

1.070

0.955

 

Cotton – million bales

 

2017-18

2018-19

USDA

4.20

4.70

Average est.

NA

4.80

USDA May

4.70

5.20

 

Global Carryover

Corn – MMT

 

2017-18

2018-19

USDA

192.69

154.69

Average est.

193.39

157.56

USDA May

194.85

159.15

 

Soybeans – MMT

 

2017-18

2018-19

USDA

92.49

87.02

Average est.

91.35

86.74

USDA May

92.16

86.70

 

Wheat – MMT

 

2017-18

2018-19

USDA

272.37

266.16

Average est.

269.99

263.00

USDA May

270.46

264.33

 

 

Cotton – million bales

 

2017-18

2018-19

USDA

88.21

83.02

Average est.

NA

83.11

USDA May

88.21

83.75

 

Global Production Highlights

Corn – MMT

 

2017-18

June (May)

2018-19

June (May)

U.S.

370.96 (370.96)

356.63 (356.63)

Argentina

33.00 (33.00)

41.00 (41.00)

Brazil

85.00 (87.00)

96.00 (96.00)

South Africa

13.50 (13.50)

14.00 (14.00)

China

215.89 (215.89)

225.00 (225.00)

Soybeans – MMT

 

2017-18

June (May)

2018-19

June (May)

U.S.

119.52 (119.52)

116.48 (116.48)

Argentina

37.00 (39.00)

56.00 (56.00)

Brazil

119.00 (117.00)

118.00 (117.00)

Paraguay

10.00 (10.00)

9.80 (9.80)

China

14.20 (14.20)

14.10 (14.10)

Wheat – MMT

 

2017-18

June (May)

2018-19

June (May)

U.S.

47.37 (47.37)

49.74 (49.57)

Argentina

18.00 (18.00)

19.50 (19.50)

Australia

21.50 (21.50)

24.00 (24.00)

Canada

30.00 (30.00)

32.50 (32.50)

EU

151.58 (151.58)

149.40 (150.40)

Cotton – million bales

 

2017-18

June (May)

2018-19

June (May)

U.S.

20.92 (20.92)

19.50 (19.50)

Australia

4.90 (4.80)

3.80 (4.00)

Brazil

8.90 (8.70)

9.00 (8.80)

India

28.50 (28.50)

28.50 (28.50)

China

27.50 (27.50)

26.50 (27.00)

 

U.S. Wheat Production

All wheat – billion bu.

USDA

1.827

Average est.

1.822

USDA May

1.821

Winter wheat– billion bu.

USDA

1.198

Average est.

1.190

USDA May

1.192

HRW wheat – million bu.

USDA

650.373

Average est.

645.000

USDA May

647.028

SRW wheat – million bu.

USDA

315.500

Average est.

318.000

USDA May

315.194

White winter wheat – million bu.

USDA

231.843

Average est.

228.000

USDA May

229.320

 

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