Report Snapshot: U.S. Carryover Pegs Top Expectations

Posted on 05/10/2019 11:36 AM

U.S. Carryover

Corn – billion bushels

Marketing year

2018-19

2019-20

USDA

2.095

2.485

Average est.

2.055

2.131

USDA April

2.035

NA

 

Soybeans – million bushels

Marketing year

2018-19

2019-20

USDA

995

970

Average est.

920

910

USDA April

895

NA

 

Wheat – billion bushels

Marketing year

2018-19

2019-20

USDA

1.127

1.141

Average est.

1.097

1.060

USDA April

1.087

NA

 

Cotton – million bales

Marketing year

2018-19

2019-20

USDA

4.65

6.40

Average est.*

NA

6.33

USDA April

4.40

NA

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

 

Global Carryover

Corn – MMT

 

2018-19

2019-20

USDA

325.94

314.71

Without China

116.11

122.90

Average est.

316.00

304.71

USDA April

314.01

NA

 

Soybeans – MMT

Marketing year

2018-19

2019-20

USDA

113.18

113.09

Without China

90.99

90.72

Average est.

108.50

109.55

USDA April

107.36

NA

 

Wheat – MMT

 

2018-19

2019-20

USDA

274.98

293.01

Without China

134.99

146.82

Average est.

275.89

277.42

USDA April

275.61

NA

 

Cotton – million bales

 

2018-19

2019-20

USDA

76.47

75.69

Without China

42.85

44.94

Average est. *

NA

76.36

USDA April

76.44

NA

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

 

Global Production Highlights

Corn – MMT

 

2018-19

May (April)

2019-20

 

 

U.S.

366.29 (366.29)

381.78

 

Argentina

49.00 (47.00)

49.00

 

Brazil

100.00 (96.00)

101.00

 

South Africa

11.00 (11.00)

14.00

 

Ukraine

35.81 (35.81)

33.00

 

China

257.33 (257.33)

254.00

 

Soybeans – MMT

 

2018-19

May (April)

2019-20

 

 

U.S.

123.66 (123.66)

112.95

 

Argentina

56.00 (55.00)

53.00

 

Brazil

117.00 (117.00)

123.00

 

Paraguay

9.00 (9.00)

10.20

 

China

15.90 (15.90)

17.00

 

Wheat – MMT

 

2018-19

May (April)

2019-20

 

 

U.S.

51.29 (51.29)

51.62

 

Argentina

19.50 (19.50)

20.00

 

Australia

17.30 (17.30)

22.50

 

Canada

31.80 (31.80)

34.50

 

EU

137.22 (137.60)

153.80

 

Russia

71.69 (71.69)

77.00

 

Ukraine

25.06 (25.06)

29.00

 

Cotton – million bales

 

2018-19

May (April)

2019-20

 

 

U.S.

18.37 (18.39)

22.00

 

Australia

2.50 (2.50)

2.20

 

Brazil

12.80 (11.80)

12.00

 

India

25.50 (27.00)

28.50

 

China

27.75 (27.75)

27.75

 

 

Expectations for 2019-20
U.S. Wheat Production

All wheat – billion bu.

USDA

1.897

Average est.

1.909

USDA 2018-19

1.884

 

Winter wheat – billion bu.

USDA

1.268

Average est.

1.277

USDA 2018-19

1.184

 

HRW wheat – million bu.

USDA

780

Average est.

767

USDA 2018-19

662

 

SRW wheat – million bu.

USDA

265

Average est.

277

USDA 2018-19

286

 

White winter wheat – million bu.

USDA

224

Average est.

232

USDA 2018-19

236

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