Just Tweaks to Carryover Expected Next Week

Posted on Fri, 12/06/2019 - 14:33

USDA will not update its corn and soybean crop estimates in the Dec. 10 crop reports, but there will be fresh usage and ending stocks projections. Attention will be on any changes to global production and demand forecasts. Look for coverage on our website and via e-mail soon after the 11:00 a.m. CT release on Tuesday.  The following are expectations based on a Reuters survey of analysts (Bloomberg for cotton).

Expectations for
U.S. Carryover

Corn – billion bushels

 

2019-20

Average est.

1.919

Range

1.890-1.960

USDA November

1.910

 

Soybeans – million bushels

Marketing year

2019-20

Average est.

476

Range

455-500

USDA November

475

 

Wheat – billion bushels

Marketing year

2019-20

Average est.

1.010

Range

0.989-1.025

USDA November

1.014

 

Cotton – million bales

Marketing year

2019-20

Average est.*

6.01

Range

5.70-6.90

USDA November

6.10

 

Expectations for
Global Carryover

Corn – MMT

 

2019-20

Average est.

295.52

Range

292.00-298.20

USDA November

295.96

 

Soybeans – MMT

 

2019-20

Average est.

95.46

Range

93.90-96.80

USDA November

95.42

 

Wheat – MMT

 

2018-19

Average est.

286.18

Range

283.90-288.50

USDA November

288.28

 

Cotton – million bales

 

2018-19

Average est. *

80.62

Range*

80.10-81.30

USDA November

80.80


*Based on the results of a survey by Bloomberg news.