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USDA Projects Smaller Ending U.S. Corn Stocks for 2022-23, Higher Soybean Supplies

USDA also expects a drop in 2022-23 global wheat production and supplies.

PF Report Reaction: U.S. corn, wheat ending stocks higher than expected

USDA left U.S. old-crop corn ending stocks unchanged, whereas traders expected a cut. Global corn ending stocks also unexpectedly increased.

PF Report Reaction: Corn, soybean planting intentions shock markets

USDA unexpectedly estimates farmers intend to plant more acres to soybeans than corn in 2022. March 1 stocks were slightly lower than expected, while soybean stocks came in higher than anticipated.

PF Report Reaction: U.S., global wheat ending stocks unexpectedly increased

USDA reflected no expected increase in U.S. wheat exports, despite the Russia/Ukraine conflict. U.S. corn exports were increased to reflect fewer anticipated shipments from Ukraine.

PF Report Reaction: U.S. ending stocks higher than expected

Projected 2021-22 ending stocks for corn, soybeans, wheat and cotton all came in higher than the average pre-report estimates.

PF Report Reaction: USDA report data relatively mild for corn and soybeans

The wheat market had the biggest reaction to the data as winter wheat seedings topped expectations, while U.S. and global wheat ending stocks increased from last month.

USDA Reports Snapshot

The USDA increased U.S. and global wheat and corn carryout numbers above pre-report estimates. Meanwhile, U.S. and global cotton and soybean carryout numbers were under pre-report estimates.

PF Reaction: Bigger-than-expected corn, bean crops drive ending stocks higher than anticipated

Your editors highlight the main takeaways from today's WASDE and Crop Production Reports.